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Bharat Innovation Fund Announced the Close of its $100 Million Fund

19Jul By Gauri SinghNo Comments

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Bharat Innovation Fund Announced the Close of its $100 Million Fund

Bharat Innovation Fund (BIF), an early stage deep-tech and intellectual property (IP) focused venture has announced the first close of its $100 million fund. The venture has received the first close of the fund at approximately $50 million with secured commitments from institutional investors such as corporates, banks, insurers, and fund of funds. The various fund investors include SIDBI through its Fund of Funds for Startups (FFS) program, ICICI Lombard, Philips, Bajaj Electricals Ltd., RBL Bank, among others. “Indian entrepreneurs are producing globally-competitive IP-driven innovations across themes like healthcare/biotech, agriculture, energy, and enterprise-tech - enabled by cutting-edge research and trends like AI, ML, IoT, India Stack, among others. Bharat Innovation Fund wil...

Vernacular Chatbot Platform Raises Seed Funding From IIM-Ahmedabad

DheeYantra Research Labs, the company behind vernacular chatbot platform dhee.ai, recently raised an undisclosed amount of funding in a seed round led by Centre for Innovation Incubation and Entrepreneurship (CIIE), the incubator-cum-investment arm of IIM-Ahmedabad. This funding round also witnessed the participation of Gopal Krishna, former managing director of Maxim India Integrated Circuits and stock market mogul Vijay Kedia. The funds raised will serve to strengthen the firm’s sales and marketing units while also investing on additional features such as improving support in additional languages for the Indian and overseas markets. DheeYantra was founded in 2017 by Vidhu Beenie and Sreekumar Jairaj and provides voice and text-based platform dhee.ai, which is supported by their fla...

IIM Ahmedabad Launches its Own $25 Million Startup Fund

India's top management institute IIM-Ahmedabad has launched USD 25 million fund for startups working in the areas of financial inclusion, livelihood, education, and health over the next three to four years. The initiative is known as the Bharat Inclusion Initiative, which aims to invest in startups in fintech, education etc with the help of CIIE. The Center for Innovation, Incubation & Entrepreneurship (CIIE) planning to channelise approximately USD 25 million over the next 3-4 years towards backing game-changing startups leveraging the ongoing digital transformation in India, it said in a release. With seed support from Tata Trusts, CIIE has received an initial commitment of USD 12.5 million from the Bill and Melinda Gates Foundation, the Michael and Susan Dell Foundation, and ...