The initiative aims to equip startups with essential resources and insights to overcome obstacles, achieve growth, and harness international prospects. SanchiConnect, a network that supports deep-tech initiatives, has partnered with YourNest Venture Capital to invest Rs 48 crore in eight startups through its Velocity Accelerator Program. This collaboration signifies 2024’s most substantial funding initiative in the deeptech sector.
In a remarkable seven-month span, the program garnered over 1,280 applications from 23 states and six union territories, as per company reports. Startups were selected based on their innovative capabilities across various sectors, including manufacturing, logistics, agriculture, healthcare, enterprise technology, and artificial intelligence.
The selected startups include:
– Induz: Leverages AI to automate comprehensive enterprise data management.
– LeanWorx: Provides a cloud-based productivity tracking solution tailored for manufacturers.
– Think Metal: Has designed a compact, cost-effective 3D metal printer that operates at production speeds up to ten times faster and at half the cost.
– Presage Insights: Utilizes advanced AI for predictive analytics, enhancing decision-making across multiple industries.
– Superfone: Delivers an app-based business phone service for small and medium enterprises (SMEs), integrating telephony with business applications.
– CargoFL: Utilises AI-driven logistics solutions to improve supply chain efficiency.
In addition to financial backing, the Velocity Accelerator Program provides expert mentorship, strategies for entering the market, and networking opportunities with industry leaders. “Our pledge exceeds simply providing funding; we leverage our business expertise and program management capabilities to furnish venture capitalists (VCs) and investors with essential tools, insights, and support required to discover promising early-stage firms,” stated Dr. Sunil K Shekhawat, Founder and CEO of SanchiConnect.
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Moreover, a four-day immersive bootcamp is taking place at IIT Kanpur’s Noida Campus, featuring workshops on branding strategies, leadership development, and team-building activities, all supplemented by cultural events like fireside chats that encourage both professional and personal development.
“The Velocity program is vital for unlocking India’s potential in the deeptech arena. The diverse makeup of this cohort—backed by SanchiConnect’s technological resources—illustrates how collaborative efforts can drive scalable real-world innovations,” remarked Sunil Goyal, Managing Director of YourNest Venture Capital.