SINE to Launch Rs 100-Crore Venture Capital Fund for Deep Tech Startups

SINE at IIT Bombay is planning a Rs 100-crore VC fund to support deep tech startups in vital sectors. The initiative aims to quadruple their supported startups to 1,000 over the next decade. The fund will enhance India's burgeoning startup ecosystem, enabling vital early-stage support and innovation.

IIT Bombay's Society for Innovation & Entrepreneurship (SINE) announced plans to launch a Rs 100-crore venture capital fund aimed at supporting deep tech startups. The fund targets startups in key national sectors such as science, biotech, space, and defense.

SINE has a 20-year legacy of supporting 245 startups with a survival rate over 80%, collectively raising USD 942 million, and valued at USD 3.56 billion. The fund's objective is to scale up support from 245 to over 1,000 startups in the next decade.

SINE intends to engage IIT Bombay alumni for fundraising post-regulatory approvals. The initiative reflects the evolution of India's startup ecosystem, complemented by SINE's commitment to nurturing early-stage tech ventures, particularly in the hardware sector.

(With inputs from agencies.)