Global venture capital firm Riceberg Ventures has unveiled a $20 million fund to support early-stage startups in cutting-edge deeptech sectors such as artificial intelligence (AI), spacetech, cybersecurity, semiconductors, novel energy, and quantum computing. The initiative aims to tackle funding hurdles in research-intensive industries with extended development timelines.

Backed by a consortium of Limited Partners, the fund plans to invest in 25 to 30 startups worldwide, with each receiving an average of $500,000. Alongside financial assistance, Riceberg Ventures will offer hands-on mentorship, leveraging its network of technical and business experts to help startups achieve product-market fit.

Founded in 2023 by Ankit Anand, Mredul Sarda, Shubham Raj, and Lino Gandola, Riceberg Ventures is committed to nurturing startups that are either creating new markets or revolutionizing existing ones. The firm’s portfolio already includes promising ventures like Manastu Space, Signatur Biosciences, EtherealX, and Keyron Medical. Co-founder Ankit Anand emphasized the transformative potential of deeptech, stating, “The goal is to back solutions that redefine industries or create new ones.”

Operating across India, Europe, and the U.S., Riceberg Ventures connects startups with a global network of scientists, investors, and corporate collaborators. Among its notable initiatives is KickSky, a SpaceTech accelerator developed in partnership with E2MC Ventures, which recently launched its second cohort featuring startups specializing in advanced propulsion and orbital technologies.

Further extending its reach, the firm has signed a memorandum of understanding (MoU) with the Hungarian government to foster cross-border innovation, cementing its role as a key player in the global deeptech ecosystem.