SanchiConnect, an accelerator specializing in DeepTech, has successfully completed a funding round led by Baring Private Equity Partners-India (STPL), Seafund, and 8X Ventures. Additional backing came from notable investors including Ogma, Arctic Innovations, and InnovHer. The newly acquired capital will enhance SanchiConnect’s recently launched SaaS-based services designed to support Indian startups. This funding represents a significant advancement for the accelerator as SaaS solutions offered by incubators and accelerators gain momentum globally, particularly in India, driven by rapid innovation.
“With this latest funding, we aim to strengthen our software suite to facilitate various types of startup support. We will enhance our community initiatives and integrate AI, providing users with compelling reasons to engage and realize value. The funds will also facilitate our regional expansion across the Asia-Pacific and Middle Eastern markets,” commented Sunil Shekhawat, CEO and Co-founder of SanchiConnect.
Founded in 2022, SanchiConnect started as a community-building initiative and quickly transitioned into software services, establishing itself as a key technology partner for leading incubators, accelerators, and corporate innovation programs across India and Southeast Asia.
“The inception of SanchiConnect three years ago was aimed at reinforcing the ecosystem for early-stage deep tech startups. The positive impact it has made in the deep tech startup sector makes us proud to be founding partners. We are dedicated to supporting the team as they pursue larger ambitions,” said Rahul Bhasin, Managing Partner of Baring PE Partners-India.
Manoj Agarwal, Managing Partner of Seafund, reiterated this perspective: “We have been following SanchiConnect’s contributions to startup acceleration and community development closely. The introduction of their SaaS platform and its acceptance by leading incubators and corporate programs gave us the confidence to join as investors.”
Chirag Gupta, Managing Partner at 8X Ventures, also expressed enthusiasm: “We were early supporters of the SanchiConnect community and formed valuable partnerships through the network. Our interest in SanchiConnect’s vision increased significantly after our meeting with Dr. Sunil in 2022. We are excited to collaborate with SanchiConnect to empower the enablers of this industry through optimal technology.”
SINE EDGE, the community platform supported by SanchiConnect, has been crucial for startups involved in the SINE program at IIT Bombay. Shaji Varghese, CEO of SINE, IIT Bombay, stated, “SINE EDGE has been a game changer for us. It has elevated our engagement with stakeholders, making our interactions more effective and efficient. This has allowed us to add even greater value to our startups. Having closely collaborated with Dr. Sunil and his team, we look forward to SanchiConnect’s next stage of growth, which will involve incorporating more technology into their products and exploring new markets.”