Deeptech investing comes with its share of challenges, especially the long gestation period required to validate new technologies and gain market acceptance. But for Vishesh Rajaram and Arjun Rao, co-founders of Speciale Invest, this challenge is an opportunity.
“The biggest risk in deeptech is the time it takes to prove technological efficacy and commercial viability,” says Rajaram. “But the positive shift is that more venture capital investors are beginning to see India’s potential in deep science and technology. It’s an exciting time to invest in this space.”
Since launching Speciale Invest in 2017, the duo has built a strong portfolio of nearly 40 companies, backing groundbreaking startups in aerospace, semiconductors, quantum security, renewable water, green hydrogen, electric vehicles (EVs), and enterprise software. Operating from Chennai, Speciale focuses on pre-seed and seed-stage investments, providing critical early-stage funding for deep science and enterprise technology ventures.
Today, the firm manages over $70 million in assets, cementing its position as a leading deeptech investor in India.
A New Approach to Risk in Deeptech
Unlike traditional venture investments, where risk is often assessed based on customer traction and revenue, deeptech startups require a different approach. These companies typically go through long R&D cycles before commercialization, making it harder to measure success using conventional metrics.
To address this, Speciale Invest encourages founders to take a bottom-up approach to risk assessment—breaking down challenges into phases and demonstrating proof of technological efficacy at each stage. This structured validation not only builds investor confidence but also expands access to a broader pool of capital.
As India’s deeptech ecosystem gains momentum, firms like Speciale Invest are playing a pivotal role in shaping its future. With a growing appetite for complex, high-impact technologies, they are betting on a new wave of innovation that could redefine India’s position in the global technology landscape.
