Sanchiconnect announced the signing of a Memorandum of Understanding (MoU) with Supply Chain Labs. Amid all winter coming news around funding, Supply Chain Labs, a micro VC fund with a key investment focus in the supply chain industry partnered with Sanchiconnect to capitalize on 5 deep tech startups in the next 60 days with up to 8 Crore INR equity funding.
Supply Chain Labs has a rigorous selection process to select a distinguished group of startups disrupting and optimising the supply chain. The selection process involves multiple stakeholders including other VC, corporates, and domain experts, and selects as steep as 1% of the start-ups that apply. Every year they run two cohorts of ~5 startups each.
Applications for cohort 4 are now open and will be found on the Sanchiconnect website. In collaboration with Sanchiconnect, Supply Chain Labs Fund will select up to 5 startups, each of which will receive up to Rs 8 crores in the capital.
Deep tech or novel technologies have tremendous scope to join the broken pieces of the supply chain industry. Right from the inception, our focus has been to support early to mid-stage startup founders who have a passion to solve legacy problems using advanced technologies. This association with Supply Chain Labs will open many more such avenues where startups solving for specific sectors will get fast-tracked funding and business growth support, said Dr. Sunil Shekhawat, CEO of Sanchiconnect.
“Nimble and Dynamic Supply Chain is the new competitive differentiator for businesses. In the changed market environment, companies that are able to quickly reconfigure their supply chain, warehousing and logistics operations will be the ones that will thrive. Those who don’t will have a tough time. Our collaboration with Sanchiconnect will not just help in identifying high-potential startups but will also help the industry discover game-changing innovations,” said Prajakt Raut – Managing Partner – Supply Chain Labs
Sanchiconnect previously announced plans to facilitate investment of $50 million USD in Indian startups through its partner channel by the end of 2023, using its deep tech-only platform.
As the Industry trends for building startups are Sustainability, big-time getting embedded in the supply chain, Customization with real-time tracking, Automation with predictive engines to optimize resources, Risk management and Smart logistics and warehousing.
Supply Chain Labs Fund is a strategic partnership in which Sanchiconnect will leverage its extensive tech startup network to identify disruptive solutions for the upcoming Supply Chain Labs cohort. Supply Chain Labs has previously invested in 18 startups, including Stylumia, Freshkartz, Egistify, Spareshub, Eunimart, and Resha Mandi.
Sanchiconnect was created by Dr. Sunil Shekhawat, a former executive head of NASSCOM’s Deeptech club. It assists deep-tech firms in raising capital with over 70 investment partners, including angel investors, venture capitalists, and investment networks. Capital2B (InfoEdge), Pi Ventures, Bharat Innovation Fund, 8x Venture Capital, Speciale Invest, Nexus VP, Yournest VC, GrowX, Ankur Capital, and Modular Capital are among the well-known venture capital firms and investment networks that have joined the platform. The platform is backed by Baring India Private Equity Fund and Inflection Point Ventures and is headquartered in Noida.