SanchiConnect, a DeepTech Enablement Network in partnership with YourNest Venture Capital announces investment through India’s biggest DeepTech accelerator programme, investing INR 48 crore in eight transformative startups under its Velocity Accelerator Program. This initiative, marking the largest DeepTech funding cohort of 2024, underscores Velocity’s position as India’s leading accelerator for emerging and DeepTech innovations. With this milestone, the program demonstrates its commitment to nurturing groundbreaking ideas and driving economic growth in the country’s startup ecosystem.
The seven-month-long program garnered an overwhelming response, receiving 1,280 applications from 23 states and six Union Territories, reflecting its national reach and inclusivity. After a rigorous multi-stage evaluation process, eight exceptional startups were selected for their disruptive potential across various sectors such as manufacturing, logistics, agriculture, healthcare, enterprise solutions, and artificial intelligence.
The eight selected startups exemplify innovation at its finest. Induz, for instance, leverages AI tools to automate and unify large-scale enterprise data, while LeanWorx offers cloud-based productivity monitoring systems for the manufacturing sector. Think Metal has developed a compact, cost-effective 3D metal printer that delivers 10x faster production at half the cost. Presage Insights uses advanced AI for predictive analytics to improve decision-making across industries. Superfone is India’s first app-based business phone number platform for SMBs, integrating telephony with business software. CargoFL employs AI-powered logistics solutions to optimize supply chains and improve operational efficiency. Finally, a couple of other groundbreaking startups complete this exceptional cohort.
Beyond funding, the Velocity Accelerator Program offers startups a comprehensive growth platform. In addition to financial support, the program provides expert mentorship, go-to-market strategies, and access to industry leaders. A key highlight of the program is a four-day immersive bootcamp at IIT Kanpur’s Noida Campus. This bootcamp includes workshops on branding, leadership, and team-building, along with cultural activities and fireside chats that foster both professional and personal growth. The program equips startups with the necessary tools and insights to overcome challenges, scale effectively, and seize global opportunities.
Sunil Goyal, Managing Director of YourNest Venture Capital, expressed his enthusiasm for the program, stating, "Programs like Velocity are instrumental in unlocking India’s DeepTech potential. The diversity of this cohort, backed by SanchiConnect’s technological support, exemplifies how collaboration can drive scalable, real-world solutions."
Echoing this sentiment, Dr. Sunil K. Shekhawat, Founder and CEO of SanchiConnect, remarked, "The Velocity Accelerator Program reflects SanchiConnect’s unwavering commitment to fostering a robust DeepTech ecosystem in India. Our role extends beyond funding; we leverage our business expertise and program management capabilities to provide VCs and investors with the tools, insights, and support needed to identify and nurture potential early jewels."
This INR 48 crore investment marks a significant milestone in India’s startup ecosystem, spotlighting the role of DeepTech in driving economic growth and technological innovation. By bridging the gap between visionary startups and critical resources, the Velocity Accelerator Program paves the way for Indian startups to thrive on the global stage.
Source : Press Release
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