ARTPARK sets up innovation lab, to launch $100 million venture fund

AI and robotics technology park (ARTPARK), promoted by Indian Institute of Science, Bengaluru today launched an innovation lab. The lab will assist AI and robotics startups to build products that are ready to go to market.

ARTPARK is promoted by IISc with a seed grant of 230 cr from Department Of Science and Technology and Govt. of Karnataka, created to bring Global Industry, Academia, Society and Govt. together for leapfrog innovations in AI & Robotics.

Also, a $!00 million venture fund was secured to help AI and robotics startups take on more challenges. The ART Venture Fund focused on AI and Robotics is a long duration fund, currently under SEBI approval process.

ARTPARK's several projects are selected on the basis of societal impact, economic sustainability and solve technological challenges. It is already catering to XraySetu: AI model providing an automated and rapid method to diagnose lung abnormalities on a chest X-ray. Another project is Avtaar Robotics, an emotive robotic nurse 'ASHA' capturing the skills of a human nurse remotely.