Former HCL CEO Anant Gupta sets up Rs 100 Cr startup fund

Former HCL CEO Anant Gupta has now set up a 100 Cr technology investment firm, TECHCELX that will focus on cutting-edge technologies in Internet of Things (IoT), artificial intelligence, machine learning and analytics segments.

“With TECHCELX I am pursuing my long-term goals and passion towards promoting our country’s entrepreneurship and innovation potential in the technology space,” said TECHCELX, Founder Chairman & CEO, Anant Gupta in a statement.

“The launch of this Rs 100 crore fund is a significant step in this direction where 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. TECHCELX  is an integrated business acceleration and technology investment firm focused on developing digital technology products & platforms in enterprises being disrupted by technology. The firm will invest in disruptive technology startups between Rs. 50 lakh to Rs. 10 Cr in exchange for an equity stake that will range between 15-50 percent. Three other partners from tech industry and investment banking are also backing the fund.

Anant is widely recognised as a visionary Technologist who was one of the founders of Comnet, India’s most successful technology startups in recent times. He is globally acknowledged for the pioneering role he played in incubating the Remote Infrastructure Management space which is today a 25bn+ Industry for India.