Prosus Tech FoundHER Challenge launches in India with $50,000 equity-free funding for women-led startups

In a push to close the gender funding gap in India's technology sector, Prosus, one of the world's largest tech investors, has introduced the Tech FoundHER Challenge, offering $50,000 in equity-free funding to women-led startups.

The initiative, launched in partnership with Encubay, a global network focused on equity in entrepreneurship, and VAIA Climate, an investment advisory firm, aims to help female founders scale, secure funding, and access international networks.

Focus on bridging the equity gap

"Encubay was built to bridge the equity gap for women entrepreneurs," said Deeksha Ahuja, Founder of Encubay. "This challenge aligns perfectly with our mission of empowering female founders with capital, networks, and mentorship."

Prosus, which has invested nearly $9 billion in India across fintech, e-commerce, and food delivery—including Swiggy, Meesho, Captain Fresh, and PharmEasy—sees the challenge as a strategic move to fuel innovation with a more inclusive investment approach.

"Women in tech don't need more barriers—they need opportunities," said Prajna Khanna, Global Head of Sustainability at Prosus Group. "The FoundHER Challenge is about taking action, backing women-led startups to scale, innovate, and lead."

Applications and timeline

Despite progress, women remain significantly underrepresented in tech and venture capital funding. Studies show that women-led startups receive less than 5% of global VC funding, a gap the FoundHER Challenge seeks to address.

The challenge invites women-led tech startups to apply by April 4, 2025. Thirty startups will be shortlisted, with six finalists pitching in person on May 25, 2025, in Bangalore. Three winners will be awarded $50,000 in non-dilutive capital to accelerate their businesses.

Beyond funding, the challenge provides access to an elite jury of investors and industry leaders, including Anjali Bansal (Avaana Capital), Archana Jahagirdar (Rukam Capital), Ronak Sandil (Amazon Ventures), Apurva Dixit (Blume Ventures), Martin Tschopp (CEO, Prosus Ventures), and Priyanka Chopra (CFO, Prosus Ventures).

Encubay, which is spearheading the challenge alongside Prosus, has a network of over 10,000 founders, investors, and corporate partners. It claims to have helped over 7,500 startups scale through capital access, strategic partnerships, and global expansion programs.

"Encubay’s global network of founders, investors, and corporates will play a key role in supporting participating startups. We are committed to creating an inclusive ecosystem where women thrive as leaders in tech," added Avneet Kohli, Founder of Encubay.