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IIT Bombay's tech incubator platform mulls raising $12 mn foor deeptech bets

VCCircle

VCCircle · 9m ago

IIT Bombay's tech incubator platform mulls raising $12 mn foor deeptech bets

The Society for Innovation & Entrepreneurship (SINE), an incubator at IIT Bombay, plans to establish a $12 million fund to support deeptech start-ups and ventures in areas of national importance. The fund will focus on sectors such as science, biotech, space, and defence to drive innovation. SINE will seek support from IIT Bombay alumni to raise the capital for the fund, which aims to build on the incubator's 20-year track record of supporting start-ups. SINE has partnerships with various government ministries and offers resources like workspaces, labs, and access to funding.

Related News

IIT Bombay incubator to scale startup support, launch Rs 100 Cr VC fund

YourStory

YourStory · 9m ago

IIT Bombay incubator to scale startup support, launch Rs 100 Cr VC fund

The Society for Innovation & Entrepreneurship (SINE), a technology business incubator based at IIT Bombay, plans to expand its support to 1,000 startups over the next 10 years. Currently, SINE has nurtured 245 startups with an impressive 80% survival rate. To fuel its growth, SINE will launch a Rs 100-crore venture capital fund to finance deeptech startups in sectors like biotech, space, defence, and sustainability, with backing from IIT Bombay alumni. SINE has produced successful startups like Gupshup and IdeaForge and aims to become a dominant force in innovation and entrepreneurship in India.

Mahindra hails IIT-Madras startup developing electric flying taxis

Internet

Internet · 1y ago

Mahindra hails IIT-Madras startup developing electric flying taxis

Anand Mahindra was amazed by ePlane, a startup from IIT Madras, developing electric flying taxis for speedy urban commutes. Founder Prof. Sathya Chakravarthy plans to unveil their first vehicle in 2025. Mahindra hailed IIT Madras as a top incubator, celebrating India's tech innovation surge. ePlane aims to democratize flying, backed by investors like Angel List's Naval Ravikant.

Tech startup funding rose 23% in 2024, deeptech saw 78% boost: Nasscom report

Economic Times

Economic Times · 4m ago

Tech startup funding rose 23% in 2024, deeptech saw 78% boost: Nasscom report

In 2024, Indian tech startup funding rose by 23% to $7.4 billion, with deeptech startups seeing a 78% boost, raising $1.6 billion. Over 2,000 new tech startups were founded, including many outside tier-1 cities, fostering a national innovation ecosystem. Challenges include understanding deeptech valuations, better collaboration, and regulatory complexities. The report highlights the need for increased R&D investments and a focus on deeptech commercialization, AI advancements, and scaling beyond major hubs.

Tech startup funding rose 23% in 2024, deeptech saw 78% boost: Nasscom report

Economic Times

Economic Times · 4m ago

Tech startup funding rose 23% in 2024, deeptech saw 78% boost: Nasscom report

In 2024, funding for Indian tech startups rose 23% to $7.4 billion, with deeptech startups appreciating a 78% growth to $1.6 billion, according to a Nasscom-Zinnov report. Over 2,000 new startups emerged, doubling from 2023, with 44% from non-tier-1 cities. Artificial intelligence attracted 87% of deeptech investments. Challenges like talent shortages and complex regulations persist, despite 12 tech IPOs. Future focus will be on deeptech commercialization and expanding beyond tier-1 hubs.

IIT Madras plans to launch Rs 200 crore VC fund to support early-stage startups

IndianStartupNews

IndianStartupNews · 1m ago

IIT Madras plans to launch Rs 200 crore VC fund to support early-stage startups

IIT Madras plans to establish a Rs 200 crore venture capital fund, primarily to support early-stage startups in the deeptech sector. Announced at their annual innovation summit, the "IITM Alumni Fund" seeks to focus on pre-Series A and Series A investments, prioritizing IIT Madras incubated ventures. Funded mostly by alumni, this initiative aims to aid 100 deep-tech startups annually, enhancing the institute's already robust startup ecosystem valued at over Rs 50,000 crore.

IIT Delhi-incubated deeptech startup Green Aero secures 1.6 million from pi Ventures - The Economic Times

Economic Times

Economic Times · 1m ago

IIT Delhi-incubated deeptech startup Green Aero secures 1.6 million from pi Ventures - The Economic Times

Green Aero, a deeptech startup incubated at IIT Delhi, raised $1.6 million in seed funding led by pi Ventures, with Antler participating, to develop next-generation propulsion systems for defense and hydrogen-powered aviation. The funds will support R&D, in-house testing, and team expansion. The startup plans to commercialize its first small-category engine within 12 months and aims to advance indigenous propulsion technologies for aerospace, naval, and civil aircraft, marking a significant step in India’s aerospace innovation.

Microsoft-backed AI4Bharat researchers to raise $12 mn: Report

Inshorts · 2y ago

Microsoft-backed AI4Bharat researchers to raise $12 mn: Report

AI researchers from AI4Bharat, an initiative by IIT Madras, are seeking to secure $12 million in funding from Peak XV Partners and Lightspeed Venture Partners to establish a new AI startup called Sarvam. The startup aims to develop specialized large language models tailored to India-specific applications. AI4Bharat is supported by Microsoft and NVIDIA, providing further backing to the venture.

GVFL’s Seed Stage Fund Marks First Close At INR 100 Cr

Inc42 · 1y ago

GVFL’s Seed Stage Fund Marks First Close At INR 100 Cr

GVFL Ltd's Prarambh Fund is raising INR 200 Cr to support seed-stage tech startups in various sectors such as B2B SaaS, healthtech, agritech, climate tech, and deeptech. The fund plans to invest in 25-30 upcoming startups this year, with an average ticket size ranging from INR 1 Cr to INR 3 Cr. Some of the companies in the fund's portfolio include Amrita Therapeutics, SLTL Group, and Varmora Homeware.

SEBI Mulls Tighter Norms For Such Listings

Inc42 · 1y ago

SEBI Mulls Tighter Norms For Such Listings

SEBI is reportedly considering tightening the norms for SME IPOs in India following complaints of misuse of these platforms. The regulator is considering raising the minimum size of SME public offers to INR 30-50 Crore. Currently, there is no minimum issue size requirement, but companies are required to have a post-issue capital base of INR 25 Crore. The proposed change is aimed at ensuring serious companies have access to the capital markets, safeguarding investors' interests. In recent years, there has been a rise in SME IPOs, with new-age tech companies also opting for such listings.

IIT Guwahati alumni’s startup acquired by US EV charging giant

Internet

Internet · 1y ago

IIT Guwahati alumni’s startup acquired by US EV charging giant

EvyEnergy, an eMobility software platform co-founded by three alumni of the Indian Institute of Technology (IIT) Guwahati, has been acquired by Zemetric, a leading American provider of electric vehicle (EV) charging technologies. EvyEnergy was established in 2021 by Tushar Bohra, Mohit Jain, and Bhabani Mohapatra, who graduated from IIT Guwahati's B. Tech. programme in 2022.

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