IndusDC, a venture studio focused on cutting 1 giga tonne (GT) of CO2 emissions by 2035, has allocated Rs 100 crore of blended finance for FY25 and FY26 to support the development of tech startups in the industrial and energy sectors. The studio plans to establish five startups in the next two years and over 50 globally within the next decade, serving as co-founders and integrating entrepreneurs. Each startup created will receive Rs 20 crore in capital, which includes tech development grants, equity for early revenue until profitability, and debt or working capital for expansion.
Mirik Gogri of Spectrum Impact, representing the family office of Aarti Industries Ltd promoters, has already signed a commitment agreement for the initial five startups. Gogri expressed enthusiasm about partnering with IndusDC, noting the founding team's expertise in identifying crucial intellectual property (IP) and building global ventures.
Founded in 2023 by Kushant Uppal, Satyanarayanan Seshadri, and Kaustubh Hanmantgad, IndusDC is also planning to secure additional commitment agreements with investors in FY25 for grants, equity, and debt. The venture studio has received support from angel investors Ashish Gupta of Helion Ventures and Sri Myneni of Knoah Solutions. Uppal highlighted that IndusDC is dedicated to creating platforms that support startups as they transition from lab to market, aiming to establish standards for an IP-focused decarbonization venture studio and making it a compelling investment option.
Currently, the studio is collaborating with IIT Madras on three hard-tech startups and is looking to form partnerships with other tech and research institutes to discover IPs and foster ventures.