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How New Niche Segments Are Emerging With the Help of the Tech Industry
BW Businessworld
|April 06, 2024
Fuelled by the harmonious integration of technological advancements and entrepreneurial ingenuity, niche domains such as astro tech, climate tech, pet care tech, and legal tech are experiencing rapid growth within the startup arena
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In recent years, India’s venture capital (VC) landscape has undergone a significant transformation, marked by a notable shift towards emerging, specialised sectors alongside the conventional ones. Fuelled by the harmonious integration of technological advancements and entrepreneurial ingenuity, niche domains such as astro tech, climate tech, pet care tech, and legal tech are experiencing rapid growth within the startup arena.
In the dynamic technological environment of India, innovation stands as the primary driver, facilitating exponential expansion. At the core of this evolution are VCs, playing a pivotal role by providing essential funding and support to these burgeoning sectors. Their contributions are crucial in fostering a vibrant and multifaceted entrepreneurial ecosystem, driving the progress of India’s technology industry. This article explores the significant role of venture capital in shaping the trajectory of these four exciting niche sectors, capturing the attention and interest of investors and entrepreneurs alike.
Climate Tech
In India, the growing acknowledgment of climate change is not just a conversation but a catalyst for the emergence of niche segments within the tech industry, particularly from the venture capital perspective. Climate tech startups are experiencing a surge, propelled by substantial investments from venture capital firms. This trend is underscored by the shared recognition of the urgency to address climate challenges among the Indian government, corporations, and consumers alike. In response to investor directives, venture capital firms are actively backing these startups, resulting in a remarkable increase in climate tech investment, which soared to $1.29 billion in 2023.
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