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Lenskart makes a strategic investment in deep-tech XR startup Ajna Lens

YourStory

YourStory · 16h ago

Lenskart makes a strategic investment in deep-tech XR startup Ajna Lens

Lenskart has strategically invested in Mumbai-based deep-tech startup Ajna Lens, known for AI-powered XR glasses, to bolster innovation in the smart glasses segment. Details of the deal are undisclosed. Ajna Lens gained recognition after winning the CES Innovation Award 2023 for its mixed reality headset, AjnaXR. Lenskart plans to leverage Ajna's technology with its design and retail strengths to create smart, stylish, and functional glasses, marking a new chapter in its smart eyewear journey.

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Lenskart Invests In AjnaLens To Develop AI-Powered Smart Glasses Lenskart Invests In AjnaLens To Develop AI-Powered Smart Glasses

Inc42 · 17h ago

Lenskart Invests In AjnaLens To Develop AI-Powered Smart Glasses Lenskart Invests In AjnaLens To Develop AI-Powered Smart Glasses

Lenskart has invested in Mumbai-based deeptech startup AjnaLens to develop AI-powered smart glasses. This partnership aims to leverage Lenskart's frame design expertise alongside AjnaLens' advanced XR technology. Founded in 2014, AjnaLens specializes in hardware and software solutions for various sectors, including defense and enterprises. Lenskart cofounder Peyush Bansal emphasized the company's commitment to innovation in eyewear, building on their recent launch of audio eyewear named ‘Phonic’. Financial details of the deal were not disclosed.

Startup debate: Food apps meet today's needs, deep-tech will define future, says marketing guru

Economic Times

Economic Times · 2m ago

Startup debate: Food apps meet today's needs, deep-tech will define future, says marketing guru

India's startup ecosystem, credited for thriving consumer-tech apps, is urged to pivot toward deep-tech sectors like AI, EVs, and semiconductors, requiring long-term investment and policy consistency, says marketing expert Rajendra Srivastava. Unlike quick-service apps, these areas demand patient funding and extended development periods. While India excels in digital consumer platforms, strategic focus and collaboration are essential to make India a true tech powerhouse, aligning with global trends in advanced manufacturing and clean energy.

Cyber security firm QNu Labs bags Rs 60 crore from govt's NQM, others

Economic Times

Economic Times · 2m ago

Cyber security firm QNu Labs bags Rs 60 crore from govt's NQM, others

Bengaluru-based QNu Labs, a quantum cybersecurity startup, raised Rs 60 crore in a Series A round led by the National Quantum Mission (NQM), marking the government's first strategic investment in a private deep tech startup focused on quantum communications. The startup, incubated at IIT-Madras, offers quantum key distribution (QKD) systems and post-quantum cryptography (PQC) tools to secure sensitive data against potential quantum computer threats. Total funding for QNu Labs now amounts to $20 million.

Yali Capital taps key LP for maiden VC fund to back deep-tech startups

VCCircle

VCCircle · 2m ago

Yali Capital taps key LP for maiden VC fund to back deep-tech startups

Yali Capital, a venture capital firm founded by Ganapathy Subramaniam and Mathew Cyriac, is preparing its first fund to invest in deep-tech startups. The Bengaluru-based firm has secured a significant limited partner (LP) for this fund, which aims to bolster India's deep-tech sector. Subramaniam's background with Cosmic Circuits and Cyriac's experience with Blackstone contribute to Yali Capital's early-stage investment focus and strategic approach in nurturing innovative technologies.

Tata, Adani have funds for deep tech R&D in India: Bikhchandani

Inshorts · 2m ago

Tata, Adani have funds for deep tech R&D in India: Bikhchandani

Info Edge Founder Sanjeev Bikhchandani said deep tech development in India needs huge investment and years of patience. He suggested tapping into India's biggest companies, like Reliance Industries, Tata Group and Adani Group, to invest in deep tech startups' R&D. "These are points to be pondered. It can't just be…responsibility of startup world to build deep tech," he said.

IFC teams up with PE firm Solcon Capital for deeptech bets in India, South Africa

VCCircle

VCCircle · 1y ago

IFC teams up with PE firm Solcon Capital for deeptech bets in India, South Africa

The International Finance Corporation (IFC) has partnered with Solcon Capital, a private equity firm, to establish a co-investment platform targeting deep-tech companies in India and South Africa. The platform will focus on sectors such as 5G, artificial intelligence, internet of things, big data, and cybersecurity. The financial details of the partnership were not disclosed. The strategic partnership aims to identify and nurture investment opportunities in the deep-tech sector in these emerging markets, supporting the growth of the digital economy. The collaboration will also explore co-investment opportunities globally, with a specific focus on India and South Africa.

Lenskart launches free lens replacement program at over 2,000 stores

Economic Times

Economic Times · 2m ago

Lenskart launches free lens replacement program at over 2,000 stores

Lenskart has launched a free lens replacement program across over 2,000 stores to improve vision care accessibility. Customers can receive new lenses, fitted professionally, for Rs 199 by bringing in their current frames. This initiative addresses the issue of outdated prescriptions due to perceived costs and inconvenience. Eye health experts warn that postponing lens updates can lead to eye strain and reduced productivity. The program is popular among students and professionals.

Equirus InnovateX Fund Announces Successful First Close

IndianStartupNews

IndianStartupNews · 1y ago

Equirus InnovateX Fund Announces Successful First Close

Equirus InnovateX Fund (EIF), an early-stage venture fund focused on supporting tech companies, has announced its first close after securing an AIF Category-I license from SEBI. The fund aims to invest in two companies within the next month and nurture innovation in the tech startup ecosystem. EIF plans to make 15-18 strategic investments this year, focusing on sectors like SaaS, Deep Tech, and Fintech, with investment sizes ranging from Rs 4 to 8 crore. Additionally, the fund aims to reserve a portion of its capital for follow-on rounds to support portfolio companies.

Budget 2024: Deep Tech Sector Seeks Policy Support, Ethical AI Guidelines

OutlookIndia

OutlookIndia · 7m ago

Budget 2024: Deep Tech Sector Seeks Policy Support, Ethical AI Guidelines

The upcoming Union Budget in India, to be presented by Finance Minister Nirmala Sitharaman, is highly anticipated as it will be the first budget after the general elections. The deep-tech sector received a boost in the previous interim budget, with a significant investment announced for sunrise technology. The Ministry of Commerce and Industry is also considering specialized policies to foster innovation in deep tech startups. The National Deep Tech Startup Policy is in its final stage of consultation. Expectations are high for measures to support AI development and address the need for ethical guidelines and reskilling initiatives in this budget.

Mayank Bidawatka, who built India’s Twitter rival Koo, raises $4M for his new startup Billion Hearts

Financial Express

Financial Express · 7m ago

Mayank Bidawatka, who built India’s Twitter rival Koo, raises $4M for his new startup Billion Hearts

Mayank Bidawatka, co-founder of Koo, has raised $4M in seed funding for his new venture, Billion Hearts Software Technologies. Led by Blume Ventures with support from General Catalyst and others, the startup focuses on a global 'digital consumer product' using deep tech. A beta launch is planned soon. Billion Hearts emphasizes team ESOPs and strategic investor alignment.

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