Deep‑Tech Gains Momentum
India’s deep‑tech scene has moved from a struggle to attract a handful of investors to a period of heightened interest from both domestic and international venture capital. The Moneycontrol Startup Conclave 2026, held in Mumbai, brought together founders from a range of sectors—satellite imaging, aerospace, electric mobility and more—to discuss the next phase of growth.
Seed Funding and the Next Hurdle
Satya Chakravarthy, CEO of ePlane Company, noted that seed rounds are now more accessible. His startup, which is developing “flying taxis”, has raised a cumulative $30.5 million in VC money. However, Chakravarthy cautioned that once a company secures early capital, the pressure shifts toward proving revenue streams. “We could become intoxicated down a path where the next round of funding will require us to show revenues,” he said.
The conversation echoed a broader sentiment: while early‑stage funding is plentiful, deep‑tech firms must prepare for a different set of metrics in subsequent rounds.
Launch Readiness and Technological Proof
Naga Bharath Daka, co‑founder of Skyroot Aerospace, highlighted the importance of technological readiness over first‑flight success. The company’s historic orbital launch was financed on the premise that the rocket was ready to launch, not that it would succeed on the first attempt. Daka explained that “launch readiness itself is 80 % of the problem,” underscoring the need for rigorous pre‑launch testing and ground confidence.
Scaling Manufacturing and Global Ambitions
Pixxel, a hyperspectral satellite maker, recently closed a $100 million round—the largest in India’s space‑tech ecosystem. Co‑founder Kshitij Khandelwal said the firm plans to move from producing a handful of satellites to running “hundreds of missions in parallel.” A full‑scale manufacturing facility is a key investment, and the company is also expanding into high‑resolution imaging to build a comprehensive space‑based intelligence, surveillance and reconnaissance capability.
Khandelwal pointed out that sovereign satellite imaging is becoming a strategic priority for many nations, citing Europe’s reliance on external providers as a cautionary example.
Public Markets as a Benchmark
Swapnil Jain, co‑founder of Ather Energy, offered a perspective from a deep‑tech company that has already gone public. He observed that investors historically struggled to evaluate such businesses, both in private and public markets. Ather’s listing provided audited financials and operating data, giving investors a clearer picture of the company’s performance.
Jain’s comments suggest that transparent reporting can bridge the knowledge gap that has long hindered deep‑tech investment.
Looking Ahead
The panelists agreed that India’s deep‑tech future will depend on deeper capital pools, stronger commercialization pathways and greater domestic technical capabilities. As the ecosystem matures, founders will need to demonstrate not only innovative technology but also the commercial viability that will attract later‑stage investors and sustain long‑term growth.