Former HCL head Anant Gupta announces Rs 100 crore fund for disruptive technology ventures
Former CEO of HCL Technologies Anant Gupta has launched a first of its kind firm specifically aimed at filling the innovation gap in emerging companies in India. TECHCELX is a first of its kind integrated business incubation and investment firm focused on developing digital technology products and platforms in enterprises being disrupted by technology.
The firm today announced a Rs 100 crore fund to support ventures developing cutting-edge technology products and businesses being disrupted by technology.
The company is a first of its kind firm, specifically aimed at filling the innovation gap in established as well as emerging companies in India. Speaking at the launch, Anant said,
With TECHCELX, I am pursuing my long term goals and passion towards promoting our country’s entrepreneurship and innovation potential in the technology space. The launch of this Rs 100 crore fund is a significant step in this direction, and we will be focusing on ventures with specialisation 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
Our vision is to help startup organisations develop and apply next-gen technology solutions to disrupt legacy operating models, he added.
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 the investment banking and technology sectors are backing this fund.
Anant Gupta, a globally celebrated CEO, is known for his outstanding contribution as a visionary technologist. He was one of the founders of Comnet. His pioneering role in incubating the Remote Infrastructure Management space, which is today a $25 billion industry in India, is globally recognised. Anant has also garnered a lot of attention through his contribution to the work defining the ‘21st Century Enterprise’ blueprint enabled by Digitalisation, Internet-isation of Things and Next-generation ITO, which has seen him win several prestigious citations, including being appointed as Chairman of the World Economic Forum’s Steering Committee on IIOT (Industrial Internet of Things).