SanchiConnect and YourNest VC invest Rs 48 crore in 8 startups under VAP

In a major boost to India’s deeptech ecosystem, SanchiConnect, in partnership with YourNest Venture Capital, has invested Rs 48 crore (around $6 million) in eight innovative startups as part of its Velocity Accelerator Program (VAP). 

The program, lasting seven months, aims to drive economic growth by supporting disruptive ideas in sectors such as manufacturing, logistics, healthcare, and artificial intelligence, according to a press release by SanchiConnect.

Cohort for India's deeptech future

The VAP initiative represents the largest deeptech funding cohort in 2024, underscoring its significance for India's burgeoning startup landscape. From a pool of 1,280 applications spanning 23 states and six union territories, eight startups were carefully chosen for their transformative potential. 

Among the selected startups are:

1. Induz: Specializes in AI tools for automating and unifying large-scale enterprise data.
2. LeanWorx: Develops cloud-based productivity monitoring systems for manufacturing.
3. Think Metal: Innovates with compact 3D metal printers that cut costs by half while producing 10x faster.
4. Presage Insights: Uses advanced AI for predictive analytics across industries.
5. Superfone: An app-based business phone number platform for small and medium businesses, merging telephony with software solutions.
6. CargoFL: Applies AI to optimize supply chains and boost logistics efficiency.

Holistic growth and mentorship for startups

The VAP offers more than just financial backing. Participating startups benefit from expert mentorship, go-to-market strategies, and access to industry leaders.

Notably, a four-day immersive bootcamp at IIT Kanpur’s Noida campus provided branding, leadership, and team-building workshops alongside cultural exchanges and fireside chats.

SanchiConnect's CEO, Dr Sunil K. Shekhawat, highlighted the program’s role in fostering impactful ideas, saying, “Our role extends beyond funding; we provide insights and support to identify and nurture early-stage innovators.”

Sunil Goyal, Managing Director of YourNest, added, “The diversity in this cohort exemplifies the power of collaboration in creating scalable, real-world solutions.”

Founded in 2022, SanchiConnect is a platform dedicated to empowering deeptech startups through investor outreach, corporate networking, and mentorship. With over 3,000 stakeholders in its community, it acts as a bridge between startups and the resources they need.

Established in 2011, YourNest Venture Capital focuses on early-stage investments in deeptech sectors like AI, IoT, robotics, and cloud-based solutions. The firm has been instrumental in fostering transformative technologies that contribute to India’s innovation-driven growth.