Sanchiconnect: Sanchiconnect to facilitate $50 million funding in Indian deep-tech companies

NEW DELHI: Baring Private Equity Partners (BPEP) India with Inflection Point Ventures has launched a fundraising and support platform to drive deep tech innovations in India. The platform Sanchiconnect aims to connect emerging tech companies with investors, enterprise buyers, talent and verified business services globally.

Among 50 investors, some of the notable VCs and investment networks that have joined the platform are Capital2B (InfoEdge), Pi Ventures, Speciale Invest, Nexus VP, Yournest VC, GrowX, Ankur Capital, Indian Angel Network, Endiya and Modular Capital. The platform has come out of stealth mode in the last week of August and has already confirmed three successful term sheets through the investor partner network.

Sanchiconnect will facilitate investments in early-stage as well as growth-stage companies working in the field of AI/ML, Blockchain, Computer Vision, Drone, Renewable Energy and other deep-tech technologies with deal sizes ranging from $100,000 to $10 million,

“India has the potential to become a leading hub for deep disruptive technology companies. Sanchiconnect is enabling fundraising, recruitment, customer acquisition and strategic partnerships for this ecosystem,” stated Rahul Bhasin, Managing Partner, BPEP India.

With more than 60 portfolio companies in technology, healthcare, real estate, financial, industrial, and consumer products like Persistent, Cipla, Mindspace, HDFC, Homelane, Dabur, BPEP India has an active interest in deep and emerging technology companies.

Launching Sanchiconnect, Sunil Shekhawat, CEO commented, “Investments in the space remain low as deep-tech innovations take a long to deliver returns. Despite an impressive compound annual growth rate of 53% in the past decade, as per the Nasscom report, startups in the space are still looking for access to seed capital and thematic funds to reach potential customers. Sanchiconnect will strive to facilitate more investments in the segment. We expect over 1000 startups and 300 global investors by the end of March 2023.”

Inflection Point Ventures (IPV) with Rs 200 crore already invested and getting profitable exits from companies like BharatPe, Toch, Fitso, and Qbera sees this partnership as a great initiative to support founders building complex but disruptive solutions in India for the world.

“The quantum of deep tech funding proposals coming to us has been growing consistently over the years and so does our member’s interest. This partnership is symbolic of our commitment to go higher on deep tech investing and reduce the timeframe in rolling out term sheets to deep tech founders,” said Ankur Mittal, Founding Partner at IPV, in a statement.

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