Sanchiconnect to allocate $50 million to back Indian deep-tech startups

News Update

• ByStartupStory     |    October 9, 2022

To promote deep tech innovations in India, Baring Private Equity Partners (BPEP) India and Inflection Point Ventures have established a platform for fundraising and support. Sanchiconnect is a network that seeks to worldwide connect startup tech firms with investors, enterprise customers, talent, and verified business services.

Capital2B (InfoEdge), Pi Ventures, Speciale Invest, Nexus VP, Your nest VC, GrowX, Ankur Capital, Indian Angel Network, Endiya, and Modular Capital are a few of the prestigious venture capital firms and investment networks that have joined the platform, among the 50 investors. In the final week of August, the platform emerged from stealth mode and announced three successful term sheets via its investment partner network.

With deal sizes ranging from $100,000 to $10 million, Sanchiconnect will facilitate investments in early-stage as well as growth-stage businesses involved in AI/ML, Blockchain, Computer Vision, Drone, Renewable Energy, and other deep-tech technologies.

“India has the potential to emerge as a major centre for businesses engaged in deeply disruptive technologies. Sanchiconnect is facilitating this ecosystem’s finance, hiring, customer acquisition, and strategic alliances “the managing partner of BPEP India, Rahul Bhasin, said.

Persistent, Cipla, Mindspace, HDFC, Homelane, and Dabur are just a few of the more than 60 portfolio firms in the technology, healthcare, real estate, financial, industrial, and consumer products sectors that BPEP India actively supports.

Sunil Shekhawat, CEO of Sanchiconnect, said, “Investments in the space remain modest as deep-tech developments take time to produce returns. According to the Nasscom report, despite an exceptional compound annual growth rate of 53% over the past ten years, companies in the sector are still looking for access to seed money and thematic funds to reach potential clients. Sanchiconnect will work to encourage additional investments in the industry. By the end of March 2023, we anticipate 300 international investors and over 1000 businesses.

With Rs 200 crore already funded and lucrative exits from businesses like BharatPe, Toch, Fitso, and Qbera, Inflection Point Ventures (IPV) views this relationship as a fantastic endeavour to encourage founders to create complex but transformative solutions in India for the world.

“Over the years, both the volume of deep tech financing ideas we get and the level of enthusiasm among our members have continually increased. This collaboration represents our dedication to increasing deep tech financing and speeding up the distribution of term sheets to deep tech founders “IPV’s founding partner, Ankur Mittal, commented in a statement.

 

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