Vijay Chattha is on the hunt for out-of-the-box ideas, mostly in climate-tech or robotics, that have the potential to change the world and create new markets. The co-founder and general partner of VSC Ventures, a San Francisco-based venture capital firm, is keen to invest in Indian companies looking to break into the US.
VSC Ventures has raised its first fund of $21 million in 2022, and is ready to cut cheques of a minimum of $250,000 and up to $300,000 per investment. The firm, which would stay invested for at least a decade, will also co-invest with other investors.
“My job is to look for stuff that’s a little crazy. India has a lot of talent in robotics, and this makes me excited about the country. We think there are a lot of companies that need automation, backed by innovative technologies, to do jobs such as sewage cleaning,” Chattha, who is meeting startups in Mumbai and Bengaluru this week, told FE.
Chattha said he was fascinated by the Municipal Corporation of Chandigarh commissioning sewer cleaning robots that eliminate the dirty work humans would have to do otherwise.
His confidence in India’s technological prowess stems from the fact that the public relations firm, VSC, which he founded 20 years ago has supported more than 800 start-ups in Silicon Valley to tell their story.
Equally important is automation in climate technology to contain global warming. In the US, utility sectors account for 25% of emissions, but there is a shortage of more than 100,000 electricians. Manufacturing accounts for over 20% of carbon emissions, while the average age of a telephone pole technician is 59 years.
“This is where automation and innovation have their role to play,” Chattha added.
VSC Ventures has already invested in automation firms such as Paintjet, Homemade, Goodcall and climate-tech firms such as Glacier, Concrete.ai, Presso, Gaeastar, and wellness biotech firms such as Pepper Bio, Dynomics and Enara.
“We are yet to find an interesting Indian founder, but we are meeting a lot of companies in India. The best ideas in the US, basically on the environment, are based on Indian culture and nature such as using clay cups for drinking tea, and this culture is exportable,” he added.
