NVIDIA Corporation (NASDAQ:NVDA) will join the India Deep Tech Alliance– a group of private equity and venture capital investors that will invest in and mentor Indian tech startups, the group said in a statement on Wednesday.
The chipmaker will join the group as an “advisory founding member,” the IDTA said in a statement, and will offer technical resources and training through its Nvidia Deep Learning Institute to emerging startups in India.
“Deep tech” is a term used to refer to fields such as artificial intelligence, quantum computing and biotechnology, which require substantial scientific research and engineering.
The IDTA, in a separate statement, said it had received an additional $850 million in capital commitments, adding to its backing after receiving $1 billion in commitments when it launched in September.
Other members in the alliance include Qualcomm Ventures, Celesta Capital, and Blume Ventures.
