8X Ventures Initiates Rs 200 Crore Fund for Emerging DeepTech Startups

8X Ventures has launched a Rs 200 crore fund, with an additional Rs 100 crore greenshoe option, aimed at financing 18-20 early-stage DeepTech startups over the next three years. The IIT-Madras-based venture capital firm has already secured over Rs 60 crore in commitments and targets sectors like WASH, industry 4.0, and BioTech.

Deeptech-focused venture capital firm 8X Ventures announced on Wednesday the first close of its Rs 200 crore fund, supplemented by an additional Rs 100 crore greenshoe option. The firm plans to finance 18-20 early-stage startups over the next three years.

Based out of IIT-Madras, the firm has already received commitments exceeding Rs 60 crore, with an investor pipeline indicating further contributions. The fund aims to offer initial cheques ranging between Rs 2-5 crore each, targeting total investments of up to Rs 20 crore in 8-10 startups.

According to 8X Ventures Managing Partner Chirag Gupta, companies emerging from Indian DeepTech sectors like water sanitation and hygiene (WASH), industry 4.0, advanced Computing, BioTech, and B2B Enterprise SaaS are set to address fundamental global issues and create significant shareholder value.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)