PanIIT, Andhra Pradesh plan Rs 500 Cr deeptech fund, target 25 AP startups by 2030

PanIIT Alumni India and the Andhra Pradesh government plan to create a ₹500-crore venture fund focused on deeptech companies, as part of a broader effort to channel capital, research and manufacturing activity into the state. The proposed PanIIT Amaravati Venture Fund will seek capital from IIT alumni, industry and institutional investors and is targeting its first close by July 1, 2027, according to plans presented at the PanIIT Andhra Pradesh Summit in Vijayawada on Saturday.