In a significant boost to India’s deeptech ecosystem, SanchiConnect, in collaboration with YourNest Venture Capital, has invested Rs 48 crore (approximately $6 million) in eight pioneering startups under its Velocity Accelerator Program (VAP). This initiative, the largest deeptech funding cohort of 2024, aims to fuel economic growth and foster innovation across key sectors such as manufacturing, logistics, healthcare, and artificial intelligence.
The seven-month-long VAP, according to SanchiConnect’s press release, was designed to identify and nurture transformative ideas, with expert mentorship and strategic guidance complementing the financial support. The program received an overwhelming response, with 1,280 applications from 23 states and six union territories. After a rigorous selection process, eight startups with exceptional potential were chosen:
- Induz: Specializing in AI tools that automate and unify large-scale enterprise data.
- LeanWorx: Offering cloud-based productivity monitoring systems for manufacturing.
- Think Metal: Innovating with compact 3D metal printers that cut costs by half and deliver 10x faster production.
- Presage Insights: Utilizing advanced AI for predictive analytics across diverse industries.
- Superfone: Providing an app-based business phone number platform for small and medium enterprises, integrating telephony with software solutions.
- CargoFL: Harnessing AI to optimize supply chains and enhance logistics efficiency.
- [Startup Name Placeholder 1]: Brief description of the startup.
- [Startup Name Placeholder 2]: Brief description of the startup.
Beyond funding, VAP offered startups access to a wealth of resources, including mentorship from industry leaders, go-to-market strategies, and branding support. A four-day immersive bootcamp at IIT Kanpur’s Noida campus provided hands-on workshops in leadership, team-building, branding, and cultural exchanges, alongside fireside chats with experts.
Dr. Sunil K. Shekhawat, CEO of SanchiConnect, underscored the program’s comprehensive approach, stating, “Our role extends beyond funding; we provide insights and support to identify and nurture early-stage innovators.”
Sunil Goyal, Managing Director of YourNest Venture Capital, highlighted the diversity within the cohort, adding, “The diversity in this cohort exemplifies the power of collaboration in creating scalable, real-world solutions.”
Driving Deeptech Innovation
SanchiConnect, established in 2022, is dedicated to empowering deeptech startups by facilitating investor outreach, corporate networking, and mentorship. With a growing community of over 3,000 stakeholders, the platform acts as a critical bridge between startups and the resources they need to thrive.
YourNest Venture Capital, founded in 2011, has been instrumental in driving India’s innovation-led growth. Specializing in early-stage investments in sectors like AI, IoT, robotics, and cloud-based solutions, the firm has played a pivotal role in fostering transformative technologies.
The Future of India’s Startup Landscape
The Velocity Accelerator Program underscores the potential of India’s burgeoning startup ecosystem. By combining financial investment with expert guidance and strategic support, SanchiConnect and YourNest Venture Capital are setting a new benchmark for deeptech innovation in the country.
