TECHCELX, launched by former CEO of HCL Technologies, Anant Gupta, has announced a Rs 100 crore fund to support ventures developing cutting-edge technology products and businesses being disrupted by technology.
The company aims at filling the innovation gap in established as well as emerging companies in India.
“With TECHCELX I am pursuing my long term goals and passion towards promoting our country’s entrepreneurship and innovation potential in the technology space,” said Anant Gupta, Founder Chairman & CEO, TECHCELX. “The launch of this Rs. 100 crore fund is a significant step in this direction where we will be focusing on ventures with specialization in technologies like Machine Learning, IoT (Internet of Things), AI, Analytics and Data Science and Automation across three main sectors of Banking, Education and Healthcare. Our vision is to help startup organizations develop and apply next-gen technology solutions to disrupt legacy operating models,” he added.
The company will invest between Rs 50 lakh and Rs 10 crore in disruptive technology ventures and the shareholding will range between 15% and 51%. Three other key partners from Investment banking and technology sectors are backing this fund.
Anant is an Industry veteran and a globally celebrated CEO. He is widely recognized as a visionary Technologist who was one of the founders of Comnet, India’s most successful technology startups in recent times. His pioneering role in incubating the Remote Infrastructure Management space, which is today a $ 25bn+ Industry for India, is globally recognized. Anant’s work on defining the ‘21st Century Enterprise’ blueprint enabled by Digitalization, Internet-isation of Things and Next-generation ITO has seen him win several prestigious citations, including being appointed as Chairman of World Economic Forum’s Steering Committee on IIOT (Industrial Internet of Things).