IIM Ahmedabad‘s incubation platform, CIIE.CO, said on Wednesday that it would invest in 50 new startups over a year. The investments would span industries and strongly focus on sustainability, digitization, and deeptech.
“Over the next 12 months, we are committed to investing up to $100,000 each in 50 early-stage startups. We aim to continue to build our deep-tech portfolio across some of the exciting white-spaces, including digital therapeutics and diagnostic-pathology in the health-tech segment,” said Vipul Patel, partner, seed investing at CIIE.CO.
“We are also looking at investing in breakthrough-solutions enabling decarbonisation, and enterprise-grade solutions powered by generative AI, amongst others,” he said.
According to CIIE.CO, it has supported over 5,000 entrepreneurs with guidance, helped 1,200 startups, and invested in 350 of them. It invested in 70 startups in the pre-seed and seed stages in 2022. The portfolio of CIIE.CO raised follow-on funding totalling more than $50 million last year. Among the startups in its portfolio are Agnikul, IdeaForge, Biosense, and PerkinElmer.
“We are also excited about investing in sectors such as gaming and the creator economy that cater to millennials and younger generations as they seek unconventional work opportunities,” said Patel.
The organization was the first institutional investor for nearly 90% of the startups, and approximately two-thirds of these startups came in Tier II and III cities in India.
