Sanchiconnect to facilitate $50m financing in Indian tech companies

Sanchiconnect to facilitate $50m financing in Indian tech companies

NEW DELHI: Baring Private Equity Partners (BPEP) India with Inflection Point Ventures has launched a fundraising and support platform to drive deep technology innovations in India. The Sanchiconnect platform aims to connect emerging technology companies with investors, business buyers, talent and verified business services worldwide.

Among 50 investors, some of the notable VCs and investment networks that have joined the platform are Capital2B (InfoEdge), Pi Ventures, Speciale Invest, Nexus VP, Yournest VC, GrowX, Ankur Capital, Indian Angel Network, Endiya, and Modular Capital. The platform came out of stealth mode in the last week of August and has already confirmed three successful condition sheets through the investor partner network.

Sanchiconnect will facilitate investments in start-up and growth-stage companies working in the field of AI/ML, blockchain, computer vision, drones, renewable energy and other cutting-edge technologies with transaction sizes ranging from $100,000 to $10 million,

“India has the potential to become a leading hub for deep-disruptive technology companies. Sanchiconnect enables fundraising, recruitment, customer acquisition and strategic partnerships for this ecosystem,” said Rahul Bhasin, Managing Partner, BPEP India.

With over 60 portfolio companies across technology, healthcare, real estate, finance, industrials and consumer products like Persistent, Cipla, Mindspace, HDFC, Homelane, Dabur, BPEP India is actively interested in deep and emerging technology companies.

At the launch of Sanchiconnect, Sunil Shekhawat, CEO, said, “Investment in space remains low as deep technological innovations take time to yield returns. Despite an impressive compound annual growth rate of 53% over the past decade, according to the Nasscom report, startups in the industry are still looking for access to seed capital and theme funds to reach potential customers. Sanchiconnect will strive to facilitate more investment in the segment. We expect over 1000 startups and 300 global investors by the end of March 2023.”

Inflection Point Ventures (IPV) with Rs 200 crore already invested and securing profitable exits from companies like BharatPe, Toch, Fitso and Qbera sees this partnership as a great initiative to help founders build complex but disruptive solutions in India for the world.

“The number of deep tech funding proposals submitted to us has grown steadily over the years, as has interest from our members. This partnership is symbolic of our commitment to go the extra mile in investment in deep tech and reduce the time to deploy term sheets to deep tech founders,” said Ankur Mittal, founding partner at IPV, in a statement.

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