DeepTech accelerator SanchiConnect raises funding from Baring Private Equity Partners-India, others

DeepTech accelerator SanchiConnect recently raised an undisclosed amount in a funding round led by Baring Private Equity Partners-India (STPL), Seafund, and 8X Ventures, with participation from other investors including Ogma, Arctic Innovations, and InnovHer.

The firm plans to use the raised capital to enhance its recently launched software offerings and expand its presence across India, the Asia-Pacific (APAC) region, and the Middle East.

SaaS-based offerings to scale startups

SanchiConnect, which started in 2022 as a community builder, quickly pivoted to software development, creating solutions to assist startups and accelerators.

The company’s SaaS platform, SanchiSaaS, simplifies and automates the startup incubation lifecycle, allowing program offices to concentrate on value-added activities. This approach reflects a global trend where accelerators and incubators are increasingly relying on SaaS-based tools to drive startup growth, now gaining traction in India. 

“With the current fundraise, we plan to strengthen our software suite around different formats of startup enablement,” said Dr. Sunil Shekhawat, CEO & Co-founder of SanchiConnect.

He further emphasized plans to incorporate artificial intelligence (AI) integrations, driving user engagement and delivering greater value. The funds will also support regional expansion.

Investors comment

Rahul Bhasin, Managing Partner of Baring PE Partners-India, said, “We seeded the idea of SanchiConnect three years ago to strengthen the early-stage deep tech startup ecosystem. The way it has evolved and positively impacted the industry makes us proud to be the founding partner.”

Chirag Gupta, Managing Partner at 8X Ventures, said, “Our inclination towards SanchiConnect’s vision grew multifold when we met Dr. Sunil in 2022. We are delighted to partner with SanchiConnect in powering the enablers of this industry using optimal tech."

Manoj Agarwal, Managing Partner at Seafund, added, “We have been closely observing the work SanchiConnect has been doing through startup acceleration and community building. The launch of their SaaS platform and its adoption by top incubators and corporate programs gave us the confidence to join their journey as investors.”