PhonePe Founders Announce $1M Grant at SPIT Alumni Reunion

Sardar Patel Institute of Technology (SPIT), one of Mumbai's premier engineering institutions, hosted its Annual Alumni Reunion on December 21, 2024, at the SP Jain Auditorium, Bhavan’s Campus, Andheri West. This special event marked the 25th anniversary of the 1999 graduating cohort, celebrating their professional milestones and welcoming about 300 alumni, including leaders from the technology and business sectors.

Alumni of the 1999 batch, Sameer Nigam, CEO and founder of PhonePe, and Rahul Chari, CTO and founder of PhonePe, announced a $1M grant at the event. The grant will enhance infrastructure, foster innovation, and cultivate an entrepreneurial mindset among students, empowering them to develop cutting-edge solutions and drive impactful ventures.

They were both awarded the distinguished alumni award for their exemplary contributions to business and society. PhonePe has revolutionized India’s digital payments ecosystem with their seamless, user-centric platform. Their visionary leadership has made PhonePe a trusted name, driving financial inclusion for millions across the country.

Speaking at the reunion Rahul Chari, Co-Founder and CTO PhonePe said, "As I reflect on my time at SPIT, being part of the first graduating batch of Computer Engineering holds a special place in my heart. It was here that my co-founder Sameer and I truly began our entrepreneurial journey with the office for our first venture located within the institute itself. The strong fundamentals I built at SPIT and the invaluable lessons from the exceptional faculty and the peers I studied alongside have been instrumental in shaping my ability to build PhonePe. I hope other alumni will also contribute in their way to help build SPIT into a truly great institute that continues to inspire and empower the next generation of innovators and leaders.''

The event honored alumni for their outstanding achievements with the SP-Changemakers Awards. These included:

● Outstanding alumni - Saurabh Netravalkar
Cricketer-turned-software engineer, he excelled in India’s U-19 team before moving to the U.S. in 2015, where he earned ODI status for the U.S. and led a historic win against Pakistan in the 2024 T20 World Cup. Balancing cricket with his role at Oracle, he has become a key figure in U.S. cricket's rise.

● Innovation & Entrepreneurship - Vikrant Potnis

Vikrant Potnis, founder of FundEnable, has trained over 2,000 startup founders and 500 angel investors, transforming India's fundraising ecosystem through innovative programs like VC Bootcamps and Angel School. Honored with the Times Business Award.

● Leadership & influence - Swagat Bhandari
IAS officer with 14 years of experience, including as MD of Kerala Water Authority and District Collector Kasaragod, led transformative projects worth ₹50,000+ crore and key COVID-19 initiatives. A 2023 Chevening Gurukul Fellow at Oxford, she has driven impactful reforms in water management, tribal welfare, and industrial policy.

This landmark reunion celebrated the achievements of SPIT’s vibrant alumni community, fostered opportunities for collaboration and networking, and honored the pioneering legacy of the institute in shaping leaders across industries.

The Principal of Sardar Patel Institute of Technology, Dr. B.N. Chaudhari, concluded the event with these words:
"Sardar Patel Institute of Technology stands by the mantra, 'Students First, Alumni Always,' as we strive to become Maharashtra's top engineering institute by 2030. While one in ten achieves success and one in a hundred achieves greatness, only one in a million becomes a donor. We are deeply grateful to Rahul Chari and Sameer Nigam for their $1M grant, a transformative step that will catalyze the growth of our college and students."