Nivedita Bhattacharjee · · 1 min readFormer IT boss launches $15 million fund for ‘disruptive’ tech
Photo credit: Tax Credits.
Techcelx, a business acceleration and technology investment firm, today announced a new fund worth about US$15 million for startups working in machine learning, IoT, Artificial Intelligence, and other new-age fields of innovation.
Headed by Anant Gupta, former CEO of India’s fourth-biggest software services firm HCL Technologies, Techcelx will invest between US$75,000 to US$1.5 million in each venture. Shareholding patterns will range between 15-51 percent, the company said.
“The launch of this INR 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,” Anant said in a statement.
Currency converted from Indian Rupees. US$1 = INR 66.9
Editing by Neha Margosa
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