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Karnataka announces Rs 1,000 crore Quantum Mission, VC fund for startups - The Economic Times

Economic Times

Economic Times · 28d ago

Karnataka announces Rs 1,000 crore Quantum Mission, VC fund for startups - The Economic Times

The Karnataka government has launched a Rs 1,000 crore Quantum Mission to establish a $20 billion quantum economy by 2035, aiming to make the state the "Quantum Capital of Asia." Initiatives include a Quantum Venture Capital Fund backing over 100 startups, a Quantum Hardware Park, and innovation zones. The mission will create 10,000 jobs, pilot applications in multiple sectors, and develop 1,000-qubit quantum processors, enhancing governance and various industries.

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India's National Quantum Mission, led by Ajai Chowdhry, has received a boost of Rs 6,000 crore. The mission emphasizes the need for quantum readiness and security. The goal is to integrate startups and financial institutions to stay ahead in the global quantum race.

‘Algorithm research to spawn new winners’: IBM’s Crowder - The Economic Times

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Economic Times · 8h ago

‘Algorithm research to spawn new winners’: IBM’s Crowder - The Economic Times

IBM's Scott Crowder emphasizes the importance of algorithm research for economic development and fostering software startups. While India is strong in learning, it lags in application research. IBM is partnering with India’s National Quantum Mission to develop local infrastructure and ecosystems for quantum computing. Collaborations with TCS aim to use quantum computing to solve complex challenges. Crowder advocates for balanced investments in hardware and software, to drive innovation and support growth in the technology sector.

Cedar Capital announces first close of Rs 240 crore Fintech VC fund

Economic Times

Economic Times · 1y ago

Cedar Capital announces first close of Rs 240 crore Fintech VC fund

Cedar Capital, a joint investment venture by Cedar Consulting and IBS Intelligence, has announced the first round of fundraising for its Fintech Venture Capital fund. The fund aims to raise Rs 240 crore ($30 million) and has secured capital within the range of Rs 50 to 75 crore. It plans to invest in around 15 early-stage startups, focusing on banking technology and B2B fintech startups. The limited partners include leading family offices and institutional investors from India and the Middle East. The fund aims to support seasoned entrepreneurs building solutions for BankTech and enterprise fintechs catering to financial services players.

Venture firm Promaft Partners announces inaugural Rs 1,000 crore fund

Economic Times

Economic Times · 1y ago

Venture firm Promaft Partners announces inaugural Rs 1,000 crore fund

Promaft Partners, a venture capital firm led by Raghav Bahl, former head of investments at Alibaba Group, is raising its first fund worth Rs 1,000 crore with a greenshoe option of Rs 200 crore. The firm, which aims to identify startups with strong product-market fit (PMF), plans to invest in 10 to 12 firms after they have achieved PMF. The fund has attracted capital from Indian family offices and founders of prominent companies like Paytm, Zomato, and PharmEasy. The first close of the fund is expected later this year.

Early stage VC IvyCap Ventures announces final close of third fund at Rs 2,100 crore

Economic Times

Economic Times · 1y ago

Early stage VC IvyCap Ventures announces final close of third fund at Rs 2,100 crore

Venture capital firm IvyCap Ventures has closed its third fund at Rs 2,100 crores (~$280 million). The firm plans to invest in 25 early-stage startups, with an average investment amount of Rs 30-50 crore. IvyCap has already invested 40% of the capital from the fund in startups like Dhruva Space, Snitch, Celcius Logistics, GradRight, Eggoz, and Flexifyme. The fund attracted investments primarily from domestic limited partners and local family offices. IvyCap also set aside Rs 100 crore for seed-stage investments. The firm is looking at disruptive sectors like consumer tech, health tech, fintech, and climate tech.

Karnataka eyes $20 billion quantum economy; aims to outpace southern rivals - The Economic Times

Economic Times

Economic Times · 1m ago

Karnataka eyes $20 billion quantum economy; aims to outpace southern rivals - The Economic Times

Karnataka plans to develop a $20 billion quantum economy by 2035 through its 'Quantum Action Plan', focusing on research, manufacturing, education, and industry support. With incentives for startups and researchers, the state aims to leverage its strong tech base and infrastructure to outpace rivals like Andhra Pradesh. Collaborating with institutions like IISc and emphasizing intellectual property and production, Karnataka seeks to integrate quantum technology in sectors like health and education.

Cabinet approves Rs 1,000-crore VC fund for space startups

Money Control

Money Control · 9m ago

Cabinet approves Rs 1,000-crore VC fund for space startups

The Indian government has approved a venture capital (VC) fund worth Rs 1,000 crore to support the growth of space startups. The fund, planned to be deployed over a period of five years, will provide early-stage funding for startups in the space sector. Managed by a professional manager, the fund aims to drive innovation in satellite technology, launch vehicles, and space applications, and support approximately 40 startups. By boosting employment across the space supply chain, the initiative seeks to position India as a leading space economy and foster a vibrant innovation ecosystem.

Early-stage VC firm Atomic Capital closes first fund at Rs 400 crore - The Economic Times

Economic Times

Economic Times · 16d ago

Early-stage VC firm Atomic Capital closes first fund at Rs 400 crore - The Economic Times

Atomic Capital, an early-stage venture capital fund based in Mumbai, closed its debut fund at Rs 400 crore, aiming to invest in 10–12 Indian consumer-focused startups in sectors like beauty, food, and apparel. Founded by Apoorv Gautam in 2024, the fund prioritizes capital-efficient businesses, offering first cheques between Rs 10 crore and Rs 30 crore. It plans to make pre-series A to series A investments, with a portion reserved for follow-on investments.

Mumbai-based venture debt firm Alteria Capital announces final close of Fund III at Rs 1,550Cr

IndianStartupNews

IndianStartupNews · 1y ago

Mumbai-based venture debt firm Alteria Capital announces final close of Fund III at Rs 1,550Cr

Mumbai-based venture debt firm Alteria Capital has closed its third fund at Rs 1,550 crore, exceeding its initial target of Rs 1,000 crore. The firm aims to continue supporting startups across various sectors, including consumer brands, fintech, and emerging areas like Gen AI and spacetech. It has already deployed 50% of the fund's capital to ventures such as OneCard and Renee Cosmetics, with a goal to back around 100-125 companies by December 2026. In addition to its venture debt fund, Alteria has introduced a shorter-duration scheme to address the short-term capital needs of startups in the consumer and fintech sectors.

Hyderabad Angels Fund launches Rs 150 Cr VC fund

Inshorts · 1y ago

Hyderabad Angels Fund launches Rs 150 Cr VC fund

Hyderabad Angels Fund has launched its inaugural venture capital fund, classified as a Category 1 AIF, with an initial investment pool of Rs 100 crore along with an optional additional greenshoe of Rs 50 crore. The fund will be tailored for tech and AI-driven startups prioritising scalability. It aims to invest up to Rs 5 crore each in 20 startups.

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