Lightspeed's India accelerator bets big on deeptech talent

Lightspeed Venture Partners is boosting support for deeptech through India Ascends, a startup accelerator offering entrepreneurs up to $3 million in seed funding.

- Rwit Ghosh

Lightspeed earlier invested in other deeptech cos like Pixxel.

A Lightspeed partner said the firm plans more investments in the sector next year, as awareness grows around the potential of core IP in areas such as aerospace, defence, robotics, and AI.

"We want to back firms built out of India. We don't want founders eventually leaking out to the US, doing a PhD and starting a great firm there," said Hemant Mohapatra, partner at Lightspeed. "We'd like them to stay back, and give them the opportunity to start a company here."