IA focusses on new thesis to go deeper in Robotics, Unmanned & Space startups

In a strategic move to back the burgeoning Robotics and Unmanned startup ecosystem, India Accelerator has made yet another significant announcement to launch a new vertical – RUMS (Robotics, Unmanned & Space) to spur innovation and drive growth for potential startups in the industry.

Recognised as India’s only dedicated accelerator vertical to propel the Robotics and Unmanned ecosystem growth, IA will be focused on providing strategic support to Unmanned Aerial Systems (UAS), Counterdrone System, Ground Robots and Space Startups. In the initial stage of inception, the accelerator projects to inject a 10-15 Mn capital in early-stage startups exhibiting potential in this space through its partner entity Finvolve.

IA will lean on a number of experts to help select and grow the startups, with Lt. Gen Anil Chait, a former Indian Army veteran, who will be leading RUMS with his strategic guidance and support. His 40 years of experience encompassing armoured corps operations, counter-insurgency warfare, and disaster relief missions makes him an invaluable asset for defence startups.

Commenting on the launch announcement of RUMS, Lt. Gen. Anil Chait, Chief Advisor of RUMS at India Accelerator said, “The vertical represents the venture into unchartered territories as Robotics and Unmanned technologies are the forerunners of modern defence, warfare, healthcare accessibility and other critical industries. Excited to lead this endeavour with IA as we look forward to cultivating innovation in revolutionising diverse industries and fortifying national security.”

Elaborating on the agenda of setting up RUMS, Arindam Mukhopadhyay, Partner & Head of Corporate Innovation at India Accelerator said, “As innovation knows no bounds, we are continuing to witness an upsurge in robotics and unmanned startups in defence use cases, but that the same time use of robotics and UAVs have expanded to agriculture, warehousing, healthcare, logistics, and more. Looking at the robust need for agile technology solutions and the proliferation of startups in this segment, we aim to capitalise on the opportunity with the unveiling of our latest endeavour.”

India is aspiring to be a leader in defence production and has set a target to become a leading global hub for drones by 2030. On the back of a slew of developments including the Government of India releasing liberalised drone rules and other initiatives, Indian startups are moving ahead to reduce their dependency on other countries. With RUMS, IA endeavours to be at the forefront in uplifting the robotics and unmanned startups, bolstering the country’s Make in India initiative.

As part of the inception of RUMS, IA invested almost $1mn in a Bengaluru-based deep-tech startup through Finvolve, the premier Micro VC fund. This startup has built advanced air defence aerial systems for rapid deployment, resilient ISR, precision strikes, and countermeasure capabilities in contested environments. The investment deal underlines its vision to foster a robust ecosystem, enabling the business sustainability of Robotics and UAS startups in India.

By January 2024, IA had 225 startups in its cohorts, while two-thirds of them successfully raised follow-on funding. It has exited nearly 33% of these startups and made 6x returns on investments in the past six years.

Apart from this, IA has dedicated verticals to focus on the growth of startups in different niches including – Energy & Mobility, Circular Economy, Sustainable Development, Generative AI and Media Entertainment & Gaming.  The move to set up RUMS as a new wing further showcases a forward-looking agenda to help startups get off the ground and be a growth enabler for them by providing the financial and other resources they need for market acquisition and business sustenance.