India’s deeptech ecosystem is gaining attention through two important developments. Space technology startup Sanyark Space has raised $2 million in pre-seed funding to build NAV-COM satellites. At the same time, IIT Madras, IIT Madras Research Park and Unicorn India Ventures have reached the first close of a Rs. 1,000-crore deeptech fund at Rs. 450 crore.

Although both announcements involve technology and investment, their roles are different. Sanyark is building a specific space product, while the IIT Madras-Unicorn fund is designed to support several companies working on difficult engineering problems.

Sanyark Space and its NAV-COM satellite plan

Sanyark Space was co-founded by Raghava Kundrapu and Akhileshwar Reddy. Reddy is a former ISRO scientist, while Kundrapu is associated with Masters’ Union. The company’s cited announcement does not clearly mention its founding year.

The startup raised $2 million in a pre-seed round led by Avaana and AUM Ventures. The money will help Sanyark develop its satellite constellation and the technology needed to operate it.

NAV-COM refers to navigation and communication working together. In simple terms, Sanyark wants to develop a low Earth orbit satellite network that can provide accurate positioning as well as secure communication for connected devices.

The company says its system will use software-defined payloads, electronically controlled antennas and onboard edge AI. These technologies could allow satellites to adjust their functions in orbit and process some information before sending it to the ground.

A practical use could be an autonomous vehicle operating in an area where regular signals are weak or unavailable. Defence systems, smart infrastructure and industrial devices may also need reliable positioning and communication links.

Sanyark is different from rocket manufacturers because its main focus is satellite infrastructure and services. Its challenge will be proving the system in space, completing testing and finding customers in both commercial and defence markets.

What the IIT Madras-Unicorn India fund aims to do

The IITM Unicorn Frontier Fund I has reached a Rs. 450-crore first close against a planned corpus of Rs. 1,000 crore. A first close means this amount has been committed so far. It does not mean that the full fund has already been raised.

The fund has already deployed nearly Rs. 55 crore across four startups working in areas such as space, quantum technology, batteries and carbon capture. Its wider investment focus includes defence, semiconductors, robotics, AI infrastructure, manufacturing and health technology.

The main purpose is to solve a common problem faced by deeptech startups. These companies often spend years developing hardware, testing prototypes and obtaining approvals before they can generate large revenue. Ordinary startup funding may not always be patient enough for this process.

The fund plans to back around 25 engineering-heavy startups. Reported investment cheques are expected to average between Rs. 15 crore and Rs. 25 crore. It will also keep money aside for future funding rounds, allowing promising companies to continue growing after the first investment.

Why these two stories matter

Sanyark’s funding shows how investors are supporting specialized Indian spacetech startups. The IIT Madras-Unicorn fund shows a broader attempt to create a steady capital pipeline for companies developing important technologies.

The fund could support startups similar to Sanyark in the future, although investment decisions will depend on technology readiness, market demand and commercial potential. In this way, the two stories represent both sides of India’s deeptech ecosystem – one company building a product and one fund supporting a larger group of companies.

Conclusion – Key takeaways

• Sanyark Space raised $2 million in pre-seed funding for its NAV-COM satellite programme.
• Its technology combines navigation, communication and satellite-based data services.
• The IITM Unicorn Frontier Fund I has reached a Rs. 450-crore first close.
• The fund targets early-stage companies in space, quantum, batteries, defence and other deeptech sectors.
• Both developments point to growing interest in Indian spacetech startups and deep-tech venture capital.

Facts Input- ET Education, Financial Express

India’s startup funding market is seeing fresh interest in two very different areas. Campus Fund has reserved up to $10 million for young founders who choose to build their companies from India. At the same time, Asiana Fund and Taiwan-based JC Capital have launched a Rs. 1,000 crore fund for advanced manufacturing and deep-tech businesses.

Both announcements focus on Indian opportunities, but their targets are different. Campus Fund is looking for young founders at the earliest stage. The Asiana-JC Capital fund is aimed at companies that have already built a business and are ready to grow.

Campus Fund’s $10 million Build In India plan

Campus Fund has earmarked up to $10 million from its $100 million third fund for its Build In India initiative. The money will support students, recent graduates and college dropouts from any country who want to develop their startups in India. The fund says founders will be considered regardless of their university, nationality or industry. ETEntrepreneur reported that the initiative will provide early pre-seed funding.

Richa Bajpai is the founder and chief executive of Campus Fund.

The firm began its first fund in July 2020 and has focused mainly on student-led startups and young entrepreneurs. Its third fund is expected to invest in around 60 to 80 startups over four years, according to ET.

The purpose is simple. A student founder may have a promising idea but lack money to build a first product, test it with customers or hire a small team. Campus Fund’s investment can help turn that idea into an early business.

The plan also reflects a growing trend of overseas-educated founders returning to India. Some are building products for Indian customers, while others see India as a lower-cost base from which they can expand globally.

Asiana Fund and JC Capital’s Rs. 1,000 crore fund

Asiana Fund and JC Capital have created the Asiana-JCC Advanced Manufacturing and Innovation Fund. The fund has a base corpus of Rs. 600 crore and can grow to Rs. 1,000 crore through an additional greenshoe option. It plans to invest in around 12 to 15 companies, mainly at the Series A and Series B stages. BS reported that the fund will focus on growth-stage Indian companies.

Its target areas include semiconductors, robotics, computing, advanced materials, sustainability, aerospace and defence. These are businesses that usually need more time, equipment and technical expertise than ordinary software startups.

Asiana Fund was founded in 2017 by Jalaj Dani, the co-promoter of Asian Paints. JC Capital was established in Taiwan in 2019 by Jim Chen.

The partnership combines Asiana’s India-focused network with JC Capital’s links to Taiwan’s semiconductor and technology ecosystem. The fund’s official website says it will also help portfolio companies with technology partnerships, supply chains, manufacturing expansion and overseas markets. Asiana Fund lists the fund size at about $105 million.

For example, a company developing industrial robots may use the investment to improve its technology, set up production, work with a large manufacturer and sell in international markets. This is the kind of long-term growth these investors appear to be targeting.

How the two funds differ

The two funds are not direct competitors in the usual sense. Campus Fund works mostly at the idea and pre-seed stage, while Asiana-JC Capital is looking at companies that have reached the Series A or Series B stage.

Campus Fund is built around young founders and early experiments. The Asiana-JC fund is designed for businesses that need larger cheques to scale manufacturing, protect intellectual property and enter global supply chains. Other early-stage venture funds and deep-tech investors may compete for the same founders, but the investment stages are clearly different.

Conclusion and key takeaways

These announcements show that India’s startup funding story is becoming broader. Young founders are receiving support at the idea stage, while engineering-heavy companies are attracting larger growth capital.

Campus Fund’s plan may encourage more students and overseas founders to build from India. The Asiana-JC Capital fund could help Indian deep-tech companies move from research and prototypes to commercial production.

Key takeaways –

• Campus Fund has set aside up to $10 million for its Build In India initiative.
• The initiative targets students, recent graduates and college dropouts.
• Asiana Fund and JC Capital have launched a fund with a potential size of Rs. 1,000 crore.
• The larger fund will focus on semiconductors, manufacturing, robotics, defence and sustainability.
• The two funds serve different stages of the startup journey.