Capital at The Frontier of
Indian Capability

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Purus commits proprietary capital to Indian deep technology where scientific moats and strategic criticality reinforce one another.

₹47-66 lakh crore
($500 - $700 billion), investments required for building India’s deep tech stack (Purus Research estimate)
₹4.26 lakh crore
($45 billion), Union capital committed since 2020 to frontier technologies’ value chains (Purus Research compilation of Cabinet and Budget approvals)
59%
Share of security-motivated industrial policy measures since 2020 in export barriers or unconventional controls, against 12% before (IMF Working Paper 25/222)
3/4
Share of American subsidy actions now aimed at dual use and advanced technologies, up from 1 in 3 before 2017. China exceeds 9 in 10 (Global Trade Alert, January 2026)
5x
Rise in export restrictions on critical raw materials from 2009 to 2023 (OECD Inventory of Export Restrictions on Industrial Raw Materials, 2025)
4x
Rise in Indian deep tech exit value, 18 exits worth $600 million in 2025 against 7 worth $152 million in 2024
157%
Rise in Indian deep tech equity funding (Tracxn)
8,842
Startups, 373 past Series A, a deepening pipeline, even as 62% of funds cite exit visibility as their biggest challenge and a Series B and C gap persists (IVCA Bharat DeepTech Report 2026)
INDIA DEEP TECH CONTEXT

First-of-a-Kind Is a National Project.
Nth-of-a-Kind Is a Market

Commercial Volume is How Sovereign Capability Amortises
ABOUT PURUS RESEARCH

Purus Research is a principal investment firm committing the proprietary capital of its founding principals to early stage critical and emerging technology companies in India, across venture and listed markets. The firm is founded on a geoindustrial thesis, which holds that technology sovereignty, supply-chain resilience, and economic statecraft now determine the transformational reach of frontier science as decisively as first-of-kind intellectual property embedded in hardware, physics, chemistry, biology, and advanced materials, or as the engineering complexity that itself constitutes the moat.

Integrating Indian national-security and geoeconomic analysis with exacting technical and financial diligence, Purus backs founders who convert India's scientific talent and free enterprise into compounding sovereign capability.

Amaravati Quantum Valley
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AMARAVATI QUANTUM VALLEY

India’s first dedicated quantum
computing ecosystem

Space & Launch
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SPACE & LAUNCH

Building sovereign capabilities for
global missions

Semiconductor Ecosystem
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SEMICONDUCTOR ECOSYSTEM

From design to fabs, India is building the stack

AI & Data Infrastructure
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AI & DATA INFRASTRUCTURE

Powering intelligence at scale

Advanced Manufacturing
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ADVANCED MANUFACTURING

Engineering the future of global industry

INDUSTRIAL FRONTIERS

Frontier Sciences Moves the Physical Limit

Six domains where scientific discovery and cumulative process learning compound into industrial diffusion, making sovereign capability affordable rather than subsidised

01 ── 06
Semi conductors and Advance compute
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Semi conductors and Advance
compute

Reconfigurable and open-ISA silicon,
immune to instruction-set leverage

EXPLORE
Space and Launch Systems
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Space and
Launch Systems

Capability per kilogram for all weather
sensing and more

EXPLORE
Defense and Dual Use Systems
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Defense and
Dual Use Systems

Collaborative autonomy stacks to
saturation-capable munitions

EXPLORE
Biotechnology and Bio-manufacturing
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Biotechnology and
Bio-manufacturing

Engineered biology replacing
petrochemical feedstocks

EXPLORE
Advanced Materials and Critical Minerals
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Advanced Materials and
Critical Minerals

Secondary supply beyond separation
chokepoints

EXPLORE
Clean and Strategic Energy
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Clean and Strategic
Energy

Rare-earth-free electrolysis, sodium-ion,
perovskite tandems

EXPLORE
PHILOSOPHY

Economics Inside the Physics

A breakthrough at the level of physics, chemistry or biology alters the production function of an entire industry. Capability of this order is defended by the cumulative process knowledge required to reproduce it, and it is increasingly governed by states through export control regimes, licensing chokepoints and restrictions on the transfer of process technology itself. India, approaching the position of third largest economy, is arriving at scientific maturity in the same period in which these instruments of technological containment are proliferating, so the capacity to build such technologies domestically has become a determinant of national security prior to any consideration of return.

The economics of a frontier technology cannot be read apart from the science that sets its cost curve, and the science cannot be read apart from the states that decide where it may be built and to whom it may be sold. Purus therefore assesses science, engineering and geoeconomics in a single act of judgement, not in sequence, and commits proprietary capital where that judgement finds Indian founders turning discovery into capability the country would otherwise import on another power's terms.

Economics Inside the Physics
Capital at The Frontier of Indian Capability
METHODOLOGY

Capital at The Frontier of Indian Capability

Purus underwrites a frontier technology for whether the science is real and reproducible, then for whether the capability can be built in India under the dependencies, controls, and sovereign demand that govern it.

OUR METHOD MOVES THROUGH FOUR LAYERS
  • I.Ingestion: The Purus intelligence stack reads India’s frontier verticals at source, from preprints and patents to grant awards, procurement contracts, and trade flows, and classifies each signal for routing.
  • II.Scientific underwriting: Each claim is rebuilt from the paper and the patent, its readiness verified against the domain’s own framework, and its moat located in process knowledge, integration, or the substance of the claims.
  • III.Geoindustrial modelling: The bill of materials (BOM) to the component level, exposure across multilateral regimes, procurement pathways, and where sovereign demand carries early volume.
  • IV.Price: Unit economics against cumulative volume cost curves, then the value chain mapped to wherever value accrues as the technology scales, in a venture or a listed company.
INDIA AT AN INFLECTION POINT

A Question of Capability and Cost

Design holds over half a chip’s value, and a fifth of the world’s designers are Indian. Sixteen tape-outs and 140 domestic IP cores have since followed.

Cell therapy made here treats at ₹30 lakh against imported crores. Turbine magnets are ninety percent imported, though India’s rare earth reserves rank third. Deep tech costs fall with cumulative volume, which makes a market of India’s size a manufacturing instrument, and technologies proved at Indian prices become affordable to countries that would otherwise go without them.

A Question of Capability and Cost
UPDATES

What is going on?

Recent notes, press mentions and portfolio activity from Purus Research on frontier industries.

EQT Plans $50 Billion India Investment, Including Adani Connex

EQT Plans $50 Billion India Investment, Including Adani Connex

EQT is planning a $50 billion spending spree in India by 2030 that will include a significant investment in billionaire Gautam Adani’s data center business.

READ ARTICLE
India needs up to Rs 172 trillion infrastructure investment by FY31

India Needs Up to Rs 172 Trillion Infra Investment by FY31

India needs up to Rs 172 trillion infrastructure investment by FY31 to turn demand into financeable projects: NaBFID-BCG Report.

READ ARTICLE
CAREERS

Careers & Fellowship

The Purus Research Fellowship is a paid, part time program of six to twelve months for graduate students and early career researchers. The mandate is technical and demanding, spanning scientific, geoindustrial, and financial diligence on frontier industries and conducted on the firm's AI assisted intelligence stack, where fellows build applied fluency in structured signal classification, primary literature and patent analysis, technical readiness and architecture assessment, supply and value chain mapping, geoeconomic and export control modelling, and quantitative scenario modelling.

Purus Research Fellowship