The New Face of Indian Innovation Is Deep-Tech

India's deep-tech sector is reshaping the nation’s innovation landscape as it emerges as a low-cost alternative to China.

News reports show that India’s deep-tech market has grown 2.5 times in the last five years and is poised to reach US$30 billion in size by 2030. In fact, in the nine months of 2025, deep-tech companies in India have raised US$7.7 billion in equity funding, while the sector ranks 3rd globally.

Over the past decade, Indian tech companies have come a long way, transitioning from building software layers atop existing global technologies to architecting the technologies themselves.

Increasingly, the country’s brightest minds are turning toward ideas rooted in frontier research like rocket propulsion systems, advanced materials, autonomous robotics, underwater drones, quantum algorithms, precision manufacturing, next-gen batteries, and more.

This evolution didn’t happen in isolation.

India has always been a centre of engineering talent. But in recent years, that talent has found more structured pathways to thrive. Backers like university-affiliated research parks, deep-tech incubators, and risk-tolerant investors have consistently championed the sector.

And global giants are starting to see the potential as well.

Recently, global tech giant NVIDIA made a big bet on India’s deep-tech potential. The company, along with Qualcomm Ventures, Activate AI and others, joined India Deep Tech Alliance, which has a fund size of over US$1.8 billion to back companies in space, semiconductors, artificial intelligence and robotics.

The government, too, has been nudging the ecosystem forward. India has begun to meaningfully prioritize R&D-heavy sectors through mission-oriented initiatives like the Research, Development and Innovation (RDI) scheme. With a budget of INR 1 trillion, the scheme’s intention is to support innovation by providing risk capital to early scientific ventures.

India still has a long road ahead as it needs more patient capital, deeper industry–academia collaboration, and stronger regulatory scaffolding.

In this month’s edition of Hedwig by The Content House, we’re shining a light on six deep-tech companies that capture this shift — Agnikul Cosmos, LightSpeed Photonics, Morphing Machines, EyeROV, Garuda Aerospace, and Noccarc Robotics.

Each of them is distinct, ambitious, and contributes to India’s growing reputation as a global deep-tech powerhouse.

Agnikul Cosmos

If there’s one company that perfectly embodies the audacity of India’s emerging deep-tech confidence, it’s Agnikul Cosmos.

Founded by Srinath Ravichandran and Moin SPM in 2017 out of IIT Madras’ deep-tech incubation ecosystem, Agnikul began with a simple question: What if launching a satellite could be as routine as booking freight?

From creating the world's first single-piece 3D-printed rocket engine to developing a reusable launch vehicle, the company’s approach is refreshingly modular. Instead of designing rockets around rigid payload classes, Agnikul offers a “configure-your-rocket” model where customers can adjust the number of engines or mission specs according to payload requirements.

For satellite startups navigating tight launch windows and high costs, this flexibility is liberating. And because Agnikul’s rockets are designed for vertical takeoff from India’s own mobile launchpad, missions can be executed from geographically strategic points.

What sets Agnikul apart is not just the hardware but the philosophy.

In an era where space exploration is often synonymous with billion-dollar budgets, Agnikul is building an accessible launch ecosystem that places affordability at the center. Their tech stack is deeply indigenous, from propulsion to avionics, it's a competitive advantage that grants them full control over supply chains and iteration speed.

While still early in its journey, Agnikul has already placed India in rare company. Only a handful of private startups worldwide are building end-to-end orbital-class launch vehicles. 

And that is precisely why investors are backing it. The company recently raised US$17 million at a valuation of US$500 million.

With each successful engine test, regulatory clearance, and upcoming commercial launch, Agnikul is expanding the boundaries of what Indian deep-tech companies can dare to attempt.

LightSpeed Photonics

Lightspeed Photonics sits right in the middle of the AI data center crunch, trying to move information inside servers using pulses of light rather than traditional copper lines.

Started by Rohin Y and Ramana Pamidighantam, the Singapore-based company was founded in 2021 in Hyderabad.

LightSpeed builds compact optical interconnects that sit close to processors and push data through lasers directly into the chips. The idea is to help AI and high performance computing data centers break out of today’s bandwidth and power ceilings while keeping systems small and modular.

Its products include LightKonnect, a small component that uses light instead of metal lines to help chips pass data to one another on the same board, and LightKonnect Fiber, which stretches that connection over fiber so information can travel quickly across longer distances.

Building on these pieces, Lightspeed is developing LightSiP, a compact module that packs computing chips and light-based connections into a single unit, designed for servers that need to handle heavy AI and data workloads without growing in size or power use.

The company has raised about US$8.5 million so far, including grants, with a recent US$6.5 million pre Series A led by pi Ventures, along with participation from 500 Global, Indian Accelerator, 8X Ventures, Java Capital and several Bay Area angels. The new capital is earmarked for R&D, pilot deployments with data center partners and setting up a larger engineering base.

LightSpeed is now looking to convert lab results and pilots into qualified, production scale design in a conservative, global data center market.

If light based interconnections become standard in AI infrastructure, this young company will have helped redraw the basic blueprint of how servers are built.

Morphing Machines

Morphing Machines is a chip company that reflects India’s long-game approach to deep-tech.

The company has a strong pedigree, as it was incubated at the Indian Institute of Science in Bengaluru around 2005. The venture grew out of Prof. S. K. Nandy’s research in reconfigurable computing. Later, Dr. Ranjani Narayan joined the company along with Deepak Shapeti, who now leads the company as co-founder and CEO.

From that academic origin came REDEFINE, a new kind of processor that can change its internal layout depending on the task at hand.

Instead of locking customers into one fixed design, it lets the same chip be tuned for different heavy workloads like AI, analytics or networking, so companies get more speed for every watt of power they spend.

Morphing Machines licenses this chip design to hardware makers rather than manufacturing the chips itself.

It is aiming at places where data moves fast and delays are costly: cloud data centers, telecom networks, aircraft systems and emerging autonomous platforms. The idea is to let customers run demanding software on smaller, more efficient machines that cut energy use and floor space while staying adaptable as needs evolve.

Morphing Machines has raised about US$7.2 million across three rounds, including a ₹38.36 crore Series A in October 2025 led by IAN Alpha Fund, with participation from Speciale Invest, IvyCap Ventures, Navam Capital and others.

The fresh capital is earmarked to tape out and test its first production chip, deepen the software stack and expand the team.

The company’s core challenge is steep but clear. It must turn two decades of chip architecture ideas into real, high-performance products that can beat entrenched global incumbents, while managing the cost, risk, and long sales cycles of this industry.

EyeROV

In a world where everyone looks to the skies, EyeROV decided to explore the opposite direction, that is the mysterious, murky world beneath the water’s surface. 

Founded in 2016 by two young entrepreneurs from IIT Madras, EyeROV builds remotely operated underwater vehicles (ROVs), essentially drones for underwater inspection. Their creation, EyeROV TUNA, is India’s first commercial ROV designed for industrial use.

What makes EyeROV especially compelling is their philosophy of democratizing underwater intelligence. Traditional marine ROVs cost upwards of US$50,000 to US$100,000. EyeROV’s models come at a fraction of that price, making them accessible not only to oil and gas giants but also to ports, fish farms, hydropower stations, and research bodies.

The company’s ROVs have already been deployed by organizations like Kochi Metro, DRDO-affiliated labs, and major maritime infrastructure firms. It recently signed a contract worth ₹47 crore with the Indian Navy to supply advanced indigenous underwater drones.

In August 2024, the company raised US$1.2 million in a pre-Series A round led by Unicorn India Ventures.

Looking ahead, EyeROV is gearing up for autonomous underwater vehicles (AUVs), a natural evolution from remotely operated systems. The potential is enormous. India’s underwater mapping is still in its infancy, with thousands of kilometers of coastline yet to be surveyed with modern tools. Applications range from environmental monitoring and port management to national security and deep-sea research.

EyeROV is a rare deep-tech company operating in a domain that is both underexplored and geopolitically significant. Their work makes India a pioneer in the growing global conversation around underwater autonomy, maritime intelligence, and ocean infrastructure robotics.

Garuda Aerospace

Founded in 2015 with a vision of becoming the “Drone King of India,” Garuda Aerospace has grown into a company that operates one of the country’s largest drone fleets.

But the real magic of Garuda Aerospace lies in how it blends serious engineering with genuine social impact.

Over the years, they’ve designed and manufactured scores of drone models used for agriculture, surveying, surveillance, disaster management, infrastructure inspection, and even food delivery pilots. Their Kisan Drone, in particular, has earned national attention for its ability to spray pesticides and fertilizers with precision.

The company’s rise coincides with India’s push for drone-led modernization in agriculture. Government subsidies, certification frameworks, and drone-friendly policies have helped Garuda embed itself deeply in the rural tech ecosystem.

Earlier this year, the company raised ₹100 crore in its Series B round of funding from Venture Catalysts.

Today, the company’s drones fly across farmlands in Punjab, Gujarat, Tamil Nadu, and Karnataka, enabling precision agriculture at a scale unimaginable even five years ago.

Future-wise, the company is moving toward deeper autonomy. They’re experimenting with BVLOS (Beyond Visual Line of Sight) delivery systems, farming analytics, and AI-driven image processing.

As India pushes forward with smart agriculture, Garuda stands at the sweet spot where deep-tech meets mass-scale impact. Their evolution reflects how drones, once considered toys, are becoming integral to national infrastructure.

Noccarc Robotics

Noccarc Robotics might be best known for something they didn’t originally set out to build, that is a world-class ventilator.

Founded in 2017 in IIT Kanpur’s innovation ecosystem, Noccarc started as a clean-tech robotics company building autonomous solar panel cleaning systems. They developed robots that navigated large solar farms, removing dust efficiently and improving power output.

Then came the COVID-19 pandemic.

In just 90 days, they developed the Noccarc V310, a highly reliable ICU-grade ventilator that received rapid approvals and was deployed across hospitals nationwide.

Today, the company has expanded its scope into med-tech with products like respiratory support devices, critical-care monitoring systems, and diagnostic tools. But what binds all these efforts is their methodical approach to engineering.

Noccarc stands out among other deep-tech companies due to its ability to move across sectors without diluting its core competency. It blends mechanical engineers, embedded-systems experts, medical device specialists, and software developers into a tightly integrated R&D engine.

The company raised US$2 million in 2024 from the likes of Indian Angel Network, IIT Kanpur, SIDBI, and Sunil Munjal, the Chairman of Hero Enterprises.

With such heavyweights backing the company, Noccarc is pushing into the global med-tech market with the same discipline that earned them recognition during the pandemic.

India’s deep-tech landscape is no longer a quiet frontier. It’s bold, experimental, and increasingly global in its ambition. The six companies we spotlighted are building capabilities that strengthen national competitiveness and inspire a generation of founders to attempt solving harder problems.

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