Micromax Informatics has launched a family office with a corpus of ₹250 crore to support deeptech startups in India and global markets. The new investment vehicle will focus on young companies that build difficult technology and have the potential to grow into large, global businesses.
The family office will focus on areas such as artificial intelligence, semiconductors, defence technology, space technology and robotics. These are sectors where new technology can have a major effect on industries, national security and the wider economy.
Micromax plans to invest mainly at the Pre-Series A to Series B stages. At these stages, startups often have a working product or strong technology but still need capital, industry support and access to customers to reach a larger market.
The average initial investment will be between ₹10 crore and ₹20 crore. This gives the family office room to support several companies while also making meaningful investments in selected businesses.
The focus is more than just money
One of the most important parts of the new family office is its plan to offer more than financial support.
Deeptech companies can face very different problems from software startups. A company that builds a new chip, robot, defence system or space product may need factories, specialised suppliers, testing facilities and industry partners. It may take years before the product reaches a large number of customers.
Micromax wants to use its own industry experience to help such companies deal with these challenges. The family office aims to help startups with product commercialisation, manufacturing scale-up, supply chains, industry partnerships and access to wider technology networks.
This approach could be important for founders who have strong technical skills but do not yet have a large industrial network.
Why deeptech needs a different kind of support
Deeptech startups usually deal with hard engineering or scientific problems. Their products can require years of research, testing and product development before they become ready for mass use.
A software company can sometimes build a first version of its product with a small team and limited equipment. A semiconductor or robotics company may need expensive equipment, specialist talent and manufacturing partners even before it can sell its first product.
This makes access to capital only one part of the problem.
For such startups, an investor with direct knowledge of manufacturing and electronics can offer a different type of value. Micromax believes its experience can help founders move from a technical idea to a product that customers can buy and use at scale.
The family office is therefore designed to support the journey from innovation to commercial scale. This includes product development, manufacturing, market access and, where suitable, global expansion.
AI, chips, defence, space and robotics
The investment plan covers several technology areas that are becoming more important around the world.
Artificial intelligence is one of the biggest areas of interest. While much of the AI market is built around software, there is also a growing need for specialised hardware, computing systems and AI tools for industries.
Semiconductors are another key area. Chips sit at the heart of smartphones, computers, cars, industrial machines and many defence systems. Building a strong semiconductor ecosystem can also reduce dependence on overseas suppliers.
Defence technology has a similar strategic value. Startups in this area can work on advanced systems, sensors, communication technology and other products with both commercial and national importance.
Space technology is also moving beyond traditional government-led programmes. Private companies now have opportunities across satellites, communication systems, launch technology and other space-related products.
Robotics is another area where deep engineering can create new businesses. Robots can serve factories, warehouses, healthcare, defence and many other industries.
Micromax has chosen these areas because they combine technology, engineering and large potential markets.
Micromax can offer an industrial advantage
Micromax is not entering deeptech investment as a company with no technology or manufacturing background.
Founded in 2000, the company has built businesses across electronics, technology and manufacturing. It has also expanded its interests into semiconductors and other emerging technology areas.
That background could help the family office stand apart from a traditional financial investor.
The company plans to use the wider Micromax ecosystem to give portfolio companies access to technology networks, manufacturing capabilities and industry relationships.
Two names are especially important here: MiPhi Semiconductors and Bhagwati Products.
MiPhi Semiconductors can provide access to a semiconductor technology network and global partnerships. Bhagwati Products can bring manufacturing capabilities and supply-chain experience. Together, these resources can help startups move closer to commercial production.
For a deeptech founder, this type of support can be valuable because the path from prototype to mass production can be difficult.
Rahul Sharma sees a larger opportunity
Micromax Informatics co-founder Rahul Sharma said deeptech startups are at the centre of a technology-led change that could shape the economic and strategic future for decades.
His point is that founders need more than money to build globally competitive deeptech companies. They also need resources, partnerships and industry knowledge.
That view appears to be at the heart of the new family office.
Micromax wants to help founders turn strong technical ideas into useful products and sustainable businesses. The goal is not simply to invest in a startup and wait for its value to rise. Instead, the company wants to use its own industrial experience to help selected businesses grow.
What Aakil Garg says about the strategy
Micromax Informatics Investment Head Aakil Garg said the family office will look for founders who are building companies with scale in mind.
The planned initial cheque size is ₹10 crore to ₹20 crore, with flexibility to back both Indian and global startups where the technology has strong long-term strategic potential.
The family office will look for companies that solve complex engineering and technology problems while also showing clear commercial potential.
This is an important point. A strong piece of technology alone may not create a large company. The product must solve a real problem, reach customers and have a path to scale.
Micromax says it wants to find founders where its industry, manufacturing and technology ecosystem can add value beyond the money it invests.
Capital deployment has already started
The family office has already begun to deploy capital under its deeptech investment plan. However, Micromax has not disclosed details of the startups that have received funding so far.
This means the market will have to wait for more information about the first portfolio companies.
The early investments will also give Micromax a chance to test its model. If the company can combine capital with manufacturing, technology and market access, it could create a useful model for other industrial groups and family offices.
A growing role for family offices
Micromax’s move also comes at a time when family offices are taking a larger interest in startups.
Family offices have traditionally focused on areas such as real estate, public markets and fixed-income assets. Many are now looking at private companies and technology startups as another way to put capital to work.
According to Inc42 data cited in reports on the Micromax announcement, more than 230 family offices have backed Indian startups, with these investors taking part in more than 1,300 funding rounds since 2014. Mumbai and Delhi NCR account for a large share of this activity.
The rise of deeptech could make this trend even more important. Such companies can need patient capital because their products often take longer to reach the market.
What this means for Indian founders
For Indian deeptech founders, the arrival of another ₹250 crore pool of capital can create a fresh source of funding.
More importantly, the family office promises access to industrial resources that a normal financial investor may not have.
A startup that needs help with manufacturing, suppliers, semiconductor networks or industry partnerships could potentially gain from Micromax’s existing ecosystem.
The bigger question will be how effectively these resources are used.
Deeptech is difficult, and investment alone cannot guarantee success. Startups still need strong founders, good technology, clear customer demand and sound business models.
But when financial capital is paired with practical industry support, the path from laboratory or prototype to a real commercial product can become easier.
A strategic move for Micromax
The ₹250 crore family office marks a new chapter for Micromax Informatics.
The company is using its experience in electronics, manufacturing and technology to enter the investment side of the deeptech ecosystem. Its target areas include some of the most important technology fields of the coming years, from AI and chips to robotics, defence and space.
The strategy also reflects a simple idea: the next generation of technology companies may need investors who understand how products are actually built.
With an average initial cheque of ₹10 crore to ₹20 crore, a focus on Pre-Series A to Series B, and a total corpus of ₹250 crore, Micromax now has a clear platform to pursue that goal.
The success of the family office will depend on the quality of the companies it selects and the value it can add after the investment. If its industrial network helps promising startups move faster from technology to commercial scale, the initiative could become more than a source of funding.
It could become a bridge between India’s deeptech ideas and the factories, markets and global partnerships needed to turn those ideas into large technology businesses.
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