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VCs flock to Chennai as IIT Madras helps deeptech take root

Economic Times

Economic Times · 3m ago

VCs flock to Chennai as IIT Madras helps deeptech take root

Venture capitalists are increasingly visiting Chennai as it becomes a hub for deep-tech funding, driven by IIT Madras's incubation ecosystem. With success from its manufacturing roots and proximity to Bengaluru, Chennai offers a convenient destination for investors, leading to faster deal closures. In 2024, startups here raised $795.88 million across over 95 funding rounds. Enhanced by the state-supported iTNT Hub's efforts, IIT Madras is recognized for pioneering deep-tech initiatives, attracting constant VC attention.

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Related News

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.

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.

Roha Biotech makes eco-packaging from mushrooms in India

Inshorts · 2m ago

Roha Biotech makes eco-packaging from mushrooms in India

Roha Biotech, a Chennai-based startup, has built India’s first scalable mycelium packaging plant using ₹1.8 crore in grants without VC funding. Incubated at IIT Madras, the team developed a high-performance, biodegradable packaging alternative to styrofoam. With five paid pilots and strong traction, the startup is now raising $1 million to scale production from 4 tons/month to 4 tons/day.

IIT-Madras to provide funds to incubate sports-tech startups

Economic Times

Economic Times · 1y ago

IIT-Madras to provide funds to incubate sports-tech startups

IIT-Madras is offering funding of up to Rs 5 crore to support sports-tech start-ups in India. The focus will be on AI and IoT-based products, including sensors, networks, and controllers. The funding will be provided by the IIT-Madras Pravartak Technologies Foundation and the IIT Madras Centre of Excellence in Sports Science and Analytics. The areas of interest are media and entertainment, fan engagement, athlete performance enhancement, esports, sports data analytics, sports education, sports commerce, and sports communities. Interested start-ups can apply through the provided link, and the shortlisted ones will present their business during the IIT Madras Sports Technology Start-up Conclave in June. The investment support will range from Rs 10 lakh to Rs 50 lakh per start-up, based on business potential.

Deeptech startup Plenome Technologies raises Rs 6.5 crore from Indian, global investors - The Economic Times

Economic Times

Economic Times · 1m ago

Deeptech startup Plenome Technologies raises Rs 6.5 crore from Indian, global investors - The Economic Times

IIT Madras-incubated deeptech startup Plenome Technologies raised Rs 6.5 crore in seed funding from Indian and international investors, including Ovington Capital and AADI. The funds will help scale pilots, accelerate product development, and expand globally. Plenome develops blockchain and AI-powered applications for secure data transfer in sectors like healthcare. Their solutions include BlockVote for voting and OrganEase for managing organ donation databases. The startup focuses on ensuring privacy and security in digital applications.

OpenAI appoints former Coursera executive Raghav Gupta as education vertical head - The Economic Times

Economic Times

Economic Times · 4d ago

OpenAI appoints former Coursera executive Raghav Gupta as education vertical head - The Economic Times

OpenAI has appointed Raghav Gupta, former Asia Pacific MD at Coursera, to lead its education vertical in India and APAC. The company plans to open its first Indian office this year and introduce India-specific educational initiatives, including a learning accelerator with IIT Madras, AICTE, and the Ministry of Education. Additionally, OpenAI announced a $500,000 grant for IIT-Madras to explore AI's classroom applications as part of its expansion efforts in this key market.

Indian Railways and IIT-M join forces for Air Mobility Revolution

Inshorts · 6m ago

Indian Railways and IIT-M join forces for Air Mobility Revolution

Railway minister Ashwini Vaishnaw has reportedly announced that the ministry will collaborate with IIT-Madras to develop vertical take-off and landing vehicles. The project will be funded by the Ministry of Railways and will look to promote innovative means of travel. He made the comments while virtually addressing the closing ceremony of the Global Hyperloop Competition 2025.

IIT Madras partners with Vellon Space for extra-terrestrial manufacturing research

Economic Times

Economic Times · 1y ago

IIT Madras partners with Vellon Space for extra-terrestrial manufacturing research

Indian Institute of Technology, Madras (IIT Madras) has partnered with space startup Vellon Space to advance research and development in extra-terrestrial manufacturing. Vellon Space will receive a technology development fund to demonstrate its miniature space laboratory, AsteriX Lab, in orbit. This collaboration is a significant step in orbital microgravity research and has the potential to revolutionize cell culture and drug development processes in space. The AsteriX Lab will undergo space qualification to conduct biological experiments, particularly in long-duration cell culture, under microgravity. The in-orbit demonstration is expected to take place by 2025.

Hyundai, IIT-M join hands to set up Rs 180 cr hydrogen research hub in TN

Economic Times

Economic Times · 1m ago

Hyundai, IIT-M join hands to set up Rs 180 cr hydrogen research hub in TN

Hyundai Motor India, in collaboration with IIT Madras and the Tamil Nadu government, is establishing the Rs 180-crore 'Hyundai HTWO Innovation Centre' at IIT Madras’ Discovery Campus. Launched by Tamil Nadu Industries Minister T R B Rajaa, the center aims to advance innovation in green hydrogen technology. Scheduled to open in 2026, it will serve as an R&D hub focusing on hydrogen solutions, promoting local innovation, and contributing to India's sustainability goals, aligning with global carbon neutrality efforts.

Planys Raises INR 43 Cr To Offer Underwater Infrastructure Testing Solutions

Inc42 · 1y ago

Planys Raises INR 43 Cr To Offer Underwater Infrastructure Testing Solutions

Deeptech startup Planys Technologies has secured INR 43 crore ($5 million) in funding led by angel investor Ashish Kacholia. The Indian company, founded by IIT Madras alumni and faculty, offers underwater infrastructure testing solutions. The funding will be used to accelerate Planys’ mission to revolutionise infrastructure inspections through advancements in marine robotics, underwater testing, and digital analytics and reporting platforms. Planys already works with industry players including Reliance Industries, IOCL, BPCL, and Indian Railways, and aims to expand globally and diversify into oceanographic and defence use cases.

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