Anant Gupta, former CEO of HCL Technologies, today announced a Rs 100 crore fund to support ventures developing technology products.
TECHCELX will be focusing on ventures with specialization in technologies like machine learning, Internet of Things (IoT), Artificial Intelligence, Analytics and Data Science and Automation across three main sectors of banking, education and healthcare.
“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 and CEO of TECHCELX.
The company will invest between Rs 50 lakh and Rs 10 crore in disruptive technology ventures and the shareholding will range between 15 percent and 51 percent. Three other key partners from investment banking and technology sectors are backing this fund.