IndusDC Sets Aside INR 100 Cr For Startups Across Industrial And Energy Sectors

Deeptech-focused venture studio IndusDC has set aside INR 100 Cr (~$12 Mn) for the fiscal years FY25 and FY26 to identify and help co-build tech startups across industrial and energy sectors.

The studio plans to build five startups in the next two years and more than 50 new companies globally over the next decade.

It also aims to cut down 1 gigatonne (1 GT) of carbon dioxide (CO2) emissions by 2035.

Each startup founded by IndusDC will have access to INR 20 Cr in capital as a combination of grants for tech development, equity for early revenue till profitability and debt or working capital for scaling beyond profitability, the venture studio said in a statement.

Founded by Kushant Uppal, Satya Seshadri and Kaustubh Hanmantgad in 2023, IndusDC is a venture studio that claims to catalyse the decarbonisation journey for the global industrial segment. It works to co-found new entities, focusing on sourcing advanced technologies, and bridging the gap between science and application.

IndusDC counts Helion Venture Partners’ Ashish Gupta and former Knoah Solutions’ CEO Sri Myneni as angel investors. The studio claims to have received a commitment agreement for five startups from Mirik Gogri of Spectrum Impact, who leads the family office of Aarti Industries Ltd’s promoters.

“The energy transition journey will create $40 Tn of new business opportunity, globally. At IndusDC, we are building platforms to address each stage of the startup as they scale from lab to market,” said Uppal.

He added, “Our team is deeply committed to establishing the benchmarks for an IP-focused decarbonisation venture studio and making it an attractive asset class for investors. We are delighted to welcome our investment partners who share our vision of building a sustainable future.”

The studio will be signing additional commitment agreements with strategic investors for grants, equity and debt over the course of FY25.