Many investors are rethinking their strategies, after having been extremely generous over the past two years. If technology can extend their freshness by two or three weeks, it could result in substantial savings in the agricultural sector.Īpart from the challenges that Shankar mentioned, there is also the broad shortage and slowdown of funding that industries across the board are witnessing now. In India and across the world, a significant amount of produce goes to waste before reaching the end consumer. For instance, the company recently evaluated a venture that extends the shelf life of fruits and vegetables. Java is also interested in ventures that may outperform existing options. We are open to investing in projects where IP is a central component, and that is how we define our direction in the deep tech space." This process involves significant technology in image stitching, efficient classification, and more. "They can combine thousands of images to produce a digital twin of a city's infrastructure.
"For example, one of our recent investments was in a company called Pre-Image, which creates 3D models of physical infrastructure," Shankar said. The technology can even be software-based, but the presence of IP is essential. If there is no intellectual property, they are less inclined to invest. Shankar explained that they focus on projects with strong fundamental IP. The company also invested in an electric flying taxi technology. Java has invested in various deep technology ventures, including a machine vision company, a water pollution remediation enterprise, and an Industry 4.0 startup, all of which exhibit innovation. Innovations in areas such as renewable energy, batteries, and material sciences present numerous opportunities for progress in this field. There is a strong synergy observed between deep technology and climate control, as addressing climate change often involves hardware innovations and the manipulation of the physical world to reverse or mitigate its effects. Java Capital's investment thesis focuses on three key areas: deep tech, SaaS, and climate sustainability. Early-stage investment interest from VCs and investors is also notable." At present, there is a considerable amount of interest, particularly at the seed stage, in supporting deep technology companies. "It seems we are in the early stages of a potential deep tech wave, following the initial consumer internet wave. "Numerous deep technology and hardware players have emerged, and fundamental IP is improving, with significant innovation occurring in fundamental and applied sciences, as well as material sciences," Shankar said. But this changed now, with a lot of companies in the venture side and startups, according to Shankar. This was worse for hardware companies, which had had to prove themselves a lot more than other sectors. Prior to 2017, there was little investor interest in the Indian deep tech sector. Addressing the challenges will be crucial for the continued growth of the deep technology industry in India. Initiatives like incubators established across IITs are promoting positive change.
This has begun to happen, with a few companies gaining traction and encouragement from various sources.
This differs from the typical investment process, especially in India."ĭespite these challenges, the ecosystem must improve to support Indian technology companies in proving their potential. "Sometimes, funds may need to be provided for longer durations due to the nature of the technology involved. "The source of capital is also crucial, as more patient funding is often required," Shankar continued.
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Technologies, particularly hardware, require more time to be proven, necessitating greater patience from investors compared to traditional consumer internet or software investments. Another aspect to consider is that these companies often take longer to grow compared to those in consumer or B2B spaces. This is one of the major challenges faced by technology companies. This difficulty in obtaining capital has been a persistent challenge for the past few years."īetween 2016-17, there was some growth in seed and pre-seed investments, but post-Series A investments have not kept pace.
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"Pre-seed and Series A funding is available in India, but for deep technology companies, it's uncertain whether there is adequate funding in the later stages such as Series B, C, and D. "For many investors, this is still a nascent area," Shankar said. He emphasized that while there are more opportunities and entrepreneurs keen on establishing companies in areas such as deep tech and climate than ever before, the challenge of obtaining investments persists. In a recent interview with DIGITIMES Asia, Vinod Shankar, Co-founder and Partner of Java Capital, shared his thoughts regarding this issue.
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