Funding news
Deeptech accelerator SanchiConnect raises undisclosed amount
SanchiConnect, a deep tech accelerator has raised an undisclosed amount from Baring Private Equity Partners- India (STPL), Seafund, and 8X Ventures. Other investors who participated in the round are Ogma, Arctic Innovations, and InnovHer.
The capital will be used to strengthen its recently launched software offerings to Indian startups. SanchiConnect which started as a community builder in 2022 later ventured into software. SanchiSaaS, the software product by the company automates a large part of the incubation and startup lifecycle, putting more focus on value-added aspects of incubation.
IG Drones secures $1M in funding
IG Drones, a drone tech and AI company has raised $1 million at an undisclosed valuation.
The first funding round was led by India Accelerator and Angel Investors.
The funding will be used for research and development, with a focus on creating state-of-the-art drone solutions tailored for defence applications. It also plans to raise an additional $3 million over the next six months to further expand its operations in India and globally.
Founded by Bodhisattwa Sanghapriya and Om Prakash, IG Drones specialises in drone manufacturing and R&D, offering services such as surveying, mapping, and inspection. With a strong track record of partnerships with the Indian Army, various state governments, and over 100 large enterprises, IG Drones has completed more than 500 projects. The drone tech company has developed India’s first 5G drone and is actively working with the defence sector.
Other news
FNP appoints Gaurav Sharma as CTO
Ferns N Petals (FNP), a gifting platform, has appointed Gaurav Sharma as its new Chief Technology Officer (CTO).
Sharma, as CTO, will oversee FNP’s tech infrastructure, drive innovation, and deliver top-notch digital experiences. He will lead the tech roadmap, integrating AI to personalise gifting, improve efficiency, and enhance customer satisfaction.
An alumnus of IIT Kanpur, he has over two decades of distinguished experience in the technology sector.
Before joining FNP, he was the Head of Engineering at the online gaming platform, Zupee. He also served as the Senior Vice President of Engineering at Nykaa, where he built the technology team from the ground up. Sharma had previously held key positions at renowned organisations like Info Edge and Microsoft.
(This article will be updated with the latest news throughout the day.)
