DSA Holding signs $2 Bn LoI for Innogress Ventures–led quantum, deep-tech ecosystem

European deep-tech investor DSA Holding AS has signed a letter of intent (LoI) to invest up to $2 billion in India’s emerging quantum and deep-tech ecosystem led by Innogress Ventures. This is one of the largest private investment commitments in the country’s quantum technology sector. 

The LoI and a memorandum of understanding (MoU) were signed on December 22 at JSS University, Noida.

The Norway-based firm, along with its sister company Norwegian Green Solutions (NGS) AS, plans to back Innogress-led projects across quantum computing, artificial intelligence, robotics and advanced data infrastructure. These include the Greater Karnavati Quantum Computing Technology Park, Greater Noida Robotics Technology Park and the Indraprastha Quantum Data Center, among others. The proposed investment will also support partner institutions and startups such as IIT Gandhinagar, JSS University Noida and several early-stage deep-tech ventures.

NGS AS separately signed an MoU with Innogress Ventures to collaborate on green technology initiatives, including renewable energy solutions to support data centres and technology parks in India. The partnership aims to align deep-tech innovation with sustainable energy infrastructure.

At the event, representatives from DSA Holding and NGS spoke about India’s rising demand for quantum, AI and clean-tech solutions and pointed to the country’s ability to scale advanced technologies for domestic and global markets. Innogress founder Sumant Parimal spoke about the need for overseas capital in India’s deep-tech sector and referred to limited domestic funding despite strong innovation activity.

The signing ceremony was attended by senior leaders from academia, industry and the European delegation. From Innogress Ventures, Kalyan Upadhyay, Partner and Advisor, was present alongside strategic and institutional stakeholders and reflected the firm’s leadership role in shaping the proposed investment and collaboration framework.

The development signals increasing international interest in India’s quantum and deep-tech ambitions, particularly at the intersection of advanced computing and sustainable technology.