Sanchi Connect, a specialised community for Deep Tech startups, enterprise buyers and investors, today announced the signing of a Memorandum of Understanding (MoU) with Supply Chain Labs, India’s first supply chain focused fund that invests in early-stage supply chain startups. SCL Fund will invest up to Rs.8 crores in each selected startup.
SCL has a rigorous selection process to select a distinguished group of startups disrupting and optimising supply chain. The selection process involves multiple stakeholders including other VC, corporates, and domain experts, and selects as steep as 1% of the start-ups that apply. Every year they run two cohorts of ~5 startups each.
Applications for cohort 4 are open now, and through the partnership with Sanchi Connect, SCL Fund will select up to 5 startups, each of which will get up to Rs.8 crores of capital. The applications are only available on the Sanchi Connect platform and SCL website until November 15th.
Deep tech or novel technologies have tremendous scope to join the broken pieces of supply chain industry. Right from the inception, our focus has been to support early to mid stage startup founders who have the passion to solve legacy problems using advanced technologies. This association with Supply Chain Labs will open many more such avenues where startups solving for specific sectors will get fast tracked funding and business growth support, said Dr Sunil Shekhawat, CEO of sanchiconnect.
“Nimble and Dynamic Supply Chain is the new competitive differentiator for businesses. In the changed market environment, companies that are able to quickly reconfigure their supply chain, warehousing and logistics operations will be the ones that will thrive. Those who don’t will have a tough time. Our collaboration with Sanchi Connect will not just help in identifying high-potential startups but will also help the industry discover game-changing innovations.” – Prajakt Raut – Managing Partner – Supply Chain Labs.
Sanchiconnect previously announced plans to facilitate investment of $50 million USD in Indian startups through its partner channel by the end of 2023, using its deep tech-only platform.
SCL Fund is anchored by strategic investors and corporate partners who carry immense domain expertise, providing startups insightful perspectives and easier access to potential customers – operating investment firm Lumis Partners, Black Soil – supply-chain focused alternative NBFC & Fund, and TCI Ventures. We have also partnered with a global consulting major to help startups accelerate their growth.
Sanchiconnect was created by Dr. Sunil Shekhawat, a former executive head of NASSCOM’s Deeptech club. It assists deep-tech firms in raising capital with over 70 investment partners, including angel investors, venture capitalists, and investment networks. Capital2B (InfoEdge), Pi Ventures, Bharat Innovation Fund, 8x Venture Capital, Speciale Invest, Nexus VP, Yournest VC, GrowX, Ankur Capital, and Modular Capital are among the well-known venture capital firms and investment networks that have joined the platform. The platform is backed by Baring India Private Equity Fund and Inflection Point Ventures and is headquartered in Noida.