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Applied Ventures selects seven deeptech startups during ASTRA 2023; Know about them
IndianStartupNews
·
1y ago
Medial
Applied Ventures, in partnership with Applied Materials India, has chosen seven deeptech startups for the fourth cohort of its ASTRA program in Bengaluru. The startups, including Lightspeed Photonics, Portkey, and Sungreen H2, were selected based on their innovative solutions in areas such as optoelectronic interconnects, green hydrogen production, and generative AI. The selected startups will receive mentorship, potential collaboration opportunities, and investment from Applied Ventures, along with access to product development expertise and a strong ecosystem network. The goal is to accelerate the growth and development of the startup ecosystem in India.
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India with 3,600 deeptech startups ranks 6th globally: Nasscom
Inshorts
·
1y ago
Medial
India, with more than 3,600 deeptech startups, ranked 6th among the top nine deeptech ecosystems in the world (excluding China) in 2023, a Nasscom report said. Of the 3,600 startups, 480 were founded last year. The Indian deeptech startups cumulatively raised $10 billion in the last five years, of which $850 million was raised in 2023 itself.
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Amazon selects 7 Indian startups for global accelerator program
Entrackr
·
10m ago
Medial
Amazon Web Services (AWS) has selected seven Indian startups which are specialized in generative AI for its global accelerator programme. Seven Indian companies out of the 80 global companies have been chosen by AWS for its global AI programme namely Convrse, House of Models, Neural Garage, Orbo.ai, Phot.ai, Unscript AI, and Zocket. According to the AWS, the selected startups will receive up to $1 million in AWS credits to develop, train, test, and deploy their generative AI solutions. The credits can be applied to Amazon SageMaker and Amazon Bedrock, tools for developing and deploying generative AI applications. To further their use of ML & AI technologies, the startups can also leverage a score of AWS services to support their growth, including AWS compute, storage and database technologies, along with AI chips like AWS Trainium and AWS. AWS had previously announced a corpus of $230 million in June this year to accelerate generative AI-driven applications worldwide. The fund aimed to focus on supporting startups to develop, build and scale their unique ideas using generative AI. Synopsis about startups which have been selected: Convrse was founded in 2021 by Anshul Padyal, Vishesh Khatri and Vikrant Singh. It is an AI-based tool which optimises complex 3D objects or scenes and makes them web or real-time ready. The startup, which serves companies in sectors like gaming, architecture, manufacturing, healthcare and simulations. Bengaluru-based House of Models leverages large language models (LLMs) and diffuser models to generate digital content for brands and businesses, including images, videos, and product descriptions. Co-founded in 2021 by Mandar Natekar, Subhabrata Debnath, Anjan Banerjee, and Subhashish Saha, Neural Garage operates as a deep technology company that leverages artificial intelligence technology to streamline content creation by lip-syncing videos. Orbo, which was co-founded in 2019 by Manoj Shinde, Danish Jamil and Abhit Sinha, uses GenAI to cater hyper-personalisation and contextual search solutions for beauty and personal care industries. The Mumbai-based startup provides data insights on facial attributes, skin tone and abnormalities to yield customized results. Led by Akshit Raja and Venus Dhuria, Phot.ai is an AI-powered platform that simplifies photo editing and graphic design through a variety of tools designed to help ecommerce sellers optimize their workflows. Unscript AI, which was launched in 2021 by Ritwika Chowdhury, is a SaaS marketing tool that uses generative AI to create studio-quality videos with real or virtual actors, without the cost or time involved with physical shooting. It aims to empower companies to create more personalized and impactful customer experiences. Co-founded in 2021 by Karthik Venkateswaran, Mukund Srivathsan, Nandha Kumar Ravi and Sundar Natesan, Zocket simplifies digital advertising using generative AI for ad creation, targeting, and analytics, making it easy for businesses of all sizes to manage and optimize campaigns.
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How Pi Ventures’ Funding Focus Shifted To Bolster ‘Disruption’
Inc42
·
1y ago
Medial
Pi Ventures, an Indian venture capital firm, has shifted its investment focus to deeptech ventures. The firm, which launched in 2016 with a focus on AI, now targets disruptive deeptech startups, such as Agnikul Cosmos and Niramai. Pi Ventures operates with a $115 million corpus across two funds and aims to solve hard, disruptive problems through innovative technologies. The firm differentiates itself by being an operator-led fund, with team members who have experience leading product and tech development. Pi Ventures expects deeptech startups to face challenges in converting technologies into scalable products.
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Flipkart Ventures selects five startups for its accelerator programme
Economic Times
·
4m ago
Medial
Flipkart Ventures has chosen five startups for its Flipkart Leap Ahead accelerator programme, offering each up to $500,000 in equity investments and mentorship. Selected startups include Xportel, Factors.ai, Expertia.ai, Bharat Krushi Seva, and Visa2Fly. Participants will receive guidance on business, product, technology, and finance from Flipkart leaders. This initiative aims to support India's startup ecosystem by fostering innovation and providing strategic networks. Since its start, Flipkart Ventures has supported over 20 startups.
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AWS selects seven Indian Gen AI startups for global accelerator
YourStory
·
10m ago
Medial
Amazon Web Services (AWS) has chosen seven Indian Gen AI startups to participate in its AWS Global Generative AI Accelerator program. The selected companies are Convrse, House of Models, NeuralGarage, Orbo.ai, Phot.ai, Unscript AI, and Zocket. These startups have been recognized for their use of artificial intelligence and their potential for global expansion. They will have the opportunity to present their solutions at AWS' re:Invent event in Las Vegas. AWS has invested $230 million to support startups worldwide in developing generative AI applications. In India, AWS has supported generative AI startups through initiatives like the AWS GenAI Loft in Bengaluru.
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Solinas Backer 8X Ventures Hits First Close Of INR 200 Cr Fund
Inc42
·
1y ago
Medial
8X Ventures, a deeptech-focused VC firm, has raised over INR 60 Cr in commitments for its fund. The firm plans to invest the funds in 18-20 early-stage startups in the deeptech sector. Each startup will receive an initial investment of INR 2-5 Cr, with the possibility of total investments of up to INR 20 Cr in select startups. 8X Ventures was founded in 2021 and aims to invest in startups that create sustainable value.
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Tech startup funding rose 23% in 2024, deeptech saw 78% boost: Nasscom report
Economic Times
·
3m ago
Medial
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.
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‘Invested in 18 deeptech cos over the past 5 years’: Info Edge's Bikhchandani on India’s deeptech debate
YourStory
·
3m ago
Medial
Info Edge founder Sanjeev Bikhchandani highlights the firm's investments in 18 deeptech companies over five years, underscoring the need for Indian startups to focus more on deeptech and AI. Through subsidiaries, the company supports ventures in diverse fields like drug discovery and spacetech. Bikhchandani stresses the strategic importance of deeptech for national progress and suggests large conglomerates and government participation to bridge funding gaps, as these ventures require extended timelines and significant resources.
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IIM Bangalore incubator floats accelerator fund for deep-tech startups
VCCircle
·
1y ago
Medial
The Nadathur S. Raghavan Centre for Entrepreneurial Learning (NSRCEL), the startup incubator of IIM Bangalore, has partnered with Small Industries Development Bank of India (SIDBI) to launch a deeptech-focused pre-seed startup accelerator fund. The corpus of the fund has not been disclosed. NSRCEL aims to support and invest in deeptech and emerging ventures, expanding its role beyond just supporting startups. SIDBI manages a Rs 10,000 crore fund-of-funds for startups and has previously backed VC firms like Blume Ventures and Chiratae Ventures.
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Japan's BeyondNext Ventures sets sights on Indian startups with $50 million fund
Livemint
·
26d ago
Medial
Japanese venture capital firm BeyondNext Ventures plans to raise a $50 million fund to support Indian startups in deeptech, AI, and semiconductors sectors. The strategy focuses on investing in companies with strong market potential, supporting Indian entrepreneurs globally, and connecting these ventures with Japanese conglomerate distribution partners. BeyondNext is particularly optimistic about the semiconductor industry and aims to foster innovation that could disrupt the sector's value chain.
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