888VC Bets Big On India’s Deeptech With Maiden ₹175 Cr Fund

India’s deeptech dream is beginning to take shape, slowly but steadily. From artificial intelligence to sustainability-driven innovations, startups in this space have long promised groundbreaking solutions but often struggled to find the right early-stage backers. Now, a fresh player is stepping in to fill that gap.

Rohit Bafna-led 888VC, an early-stage accelerator and venture capital firm, has announced the launch of its maiden alternate investment fund (AIF) worth ₹175 Cr (around $19 Mn). The newly launched 888VC Accelerator Fund aims to identify and nurture young startups working in deeptech, AI and sustainability—sectors often overlooked by mainstream capital.

Over the next three years, the firm plans to deploy investments in the range of ₹2 Cr to ₹4 Cr per startup, with a clear focus on ventures that can build from India but scale globally.

888VC Deeptech Fund

888VC is the brainchild of Rohit Bafna, former vice president at 100Unicorn, who set up the firm in 2022. Headquartered in Bengaluru, the platform positions itself as both an accelerator and a venture capital player—giving startups not just capital but also guidance, mentorship and access to networks.

In just three years, the firm claims to have already invested $12 Mn across 20 startups, with its portfolio now valued at over $500 Mn. Some of the startups it has backed include EcoRatings (a cleantech platform), Sanfe (a women’s hygiene-focused D2C brand), and Finly (a SaaS startup).

With the new AIF, 888VC is doubling down on its ambition to be a strong backer of early-stage innovation.

AIF Status & Regulatory Nod

The new fund was formally registered with the Securities and Exchange Board of India (SEBI) in February 2025 as a Category I AIF. This category is specifically designed for funds that back businesses seen as socially or economically desirable—earning them incentives and regulatory concessions.

That categorisation is significant because it positions 888VC as more than just a profit-chasing fund—it signals intent to build ventures that create long-term impact.

The timing of this fund launch is crucial. While India has no shortage of deeptech talent and ideas, the sector has struggled to secure early-stage funding compared to fintech, ecommerce or consumer-focused ventures.

According to Inc42’s Indian Tech Startup Funding Report (H1 2025), advanced hardware and technology startups raised just $311 Mn across 43 deals in the first half of this year—a fraction of what flowed into other hot sectors.

The government too has acknowledged this gap. Earlier this year, commerce minister Piyush Goyal admitted that deeptech funding numbers remain “disturbing,” with many startups unable to move beyond pilot projects. In response, the Union Cabinet in July approved a massive ₹1 Lakh Cr research, development and innovation (RDI) scheme to support advanced tech development.

This is where private players like 888VC can play a catalytic role, bridging the early-stage funding void while complementing policy initiatives.

A Growing Wave Of Deeptech Capital

888VC is not alone in making a deeptech push. In recent months, several funds have doubled down on this high-potential yet under-served sector.

• Speciale Invest closed its third fund at ₹600 Cr.

• Yali Capital raised ₹893 Cr for its maiden deeptech-focused fund.

• The newly formed India Deep Tech Alliance (IDTA), backed by eight marquee India- and US-based VCs, pledged $1 Bn over the next decade to nurture deeptech ventures.

Together, these moves reflect a broader recognition: India cannot afford to miss the deeptech bus if it wants to be at the forefront of global innovation.

With its maiden AIF, 888VC is making a bold statement of intent. By targeting early-stage startups and writing meaningful cheque sizes, it aims to become a go-to platform for entrepreneurs solving complex problems with scalable tech.

If it succeeds, the fund could play a pivotal role in shaping India’s deeptech story—helping entrepreneurs move from promising prototypes to globally competitive businesses.

As capital, policy and ecosystem momentum converge, India’s deeptech sector could finally find its breakout moment. And with its ₹175 Cr fund, 888VC wants to be right at the center of that transformation.