Sanchiconnect Inks MoU with ACIR To Accelerate Deep Tech Start-Up Funding In India

Updated on: 19 November 2022 2:54 am

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Sanchiconnect, a community for deep tech start-ups, investors and corporates has signed a memorandum of understanding (MoU) with the Alliance for Commercialisation and Innovation Research (ACIR). The collaboration aims to help Nexus Incubator start-ups raise funds and establish connections for corporate market access.

Under this partnership, Sanchiconnect will act as a go-to-market and investment partner to help build deep tech funds. The MoU will also allow the two partners to decode advanced technologies such as artificial intelligence (AI) and the internet of things (IoT) in order to expand the portfolio of existing start-ups at ACIR’s Nexus Incubation program.

Erik Azulay, president of ACIR said, “We have graduated over 175 companies and many of them have seen exponential growth. Deep-tech start-ups comprised almost 40 per cent in the last few cohorts and we are delighted to partner with Sanchiconnect to bring this investment platform to our program and start-ups which will further strengthen our efforts.”

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Nexus Incubators program aims to provide selected start-ups access to networks of industry and government partners, training with commercialization experts, an extensive mentor network and access to funders who specialise in supporting start-ups. Through its affiliation with the ACIR, it can also connect start-ups with entrepreneurial teams to help them accelerate their path to market.

Commenting on the partnership, Dr. Sunil Shekhawat, chief executive officer of Sanchiconnect said, "In the past few years, we have seen a significant rise in the number of start-ups leveraging deep tech in solving global problems. There have been hesitations around investing in tech which has a longer incubation cycle. We are speaking individually with investors and trying to get their attention to partner with future tech companies. This partnership will offer us a bigger and better pool of companies to offer to our investor partner network.”

Sanchiconnect will increase investment in early and growth-stage companies that use AI, machine learning, blockchain, computer vision, drones, renewable energy and other deep-tech sectors. SanchiConnect's proprietary platform enables start-ups and investors in the discovery, comparison and connection to fast-track finance and specialises in enabling cross-border business and funding opportunities for early to mid-stage emerging and deep tech companies.

Sanchiconnect was created by Dr. Sunil Shekhawat, a former executive director of NASSCOM's deep tech club. It assists deep tech firms in raising capital by partnering with over 75 investment partners, including angel investors, venture capitalists, and investment networks. Among the well-known venture capital firms and investment networks that have joined the platform are Capital2B (InfoEdge), Pi Ventures, Bharat Innovation Fund, 8x Ventures, Speciale Invest, Nexus VP, YourNest VC, GrowX, Ankur Capital, RPG, and Modular Capital. The company is headquartered in BKC Mumbai and backed by Baring India Private Equity Fund and Inflexion Point Ventures.