DeepTech accelerator SanchiConnect recently raised an undisclosed amount in a funds round led by Baring Private Equity Partners-India (STPL), Seafund and 8X Ventures, with participation from other investors including Ogma, Arctic Innovations and InnovHer.
The company plans to use the raised capital to enhance its recently launched software offerings and expand its presence in India, the Asia-Pacific (APAC) region and the Middle East.
SaaS-based offerings to scale startups
Starting in 2022 as a community builder, SanchiConnect quickly moved into software development and created solutions to help startups and accelerators.
The company’s SaaS platform, SanchiSaaS, simplifies and automates the startup incubation lifecycle, allowing program offices to focus on value-added activities. This approach reflects a global trend where accelerators and incubators are increasingly relying on SaaS-based tools to drive the growth of startups, which are now gaining traction in India.
“With the current fundraising, we plan to strengthen our software stack around different startup enablement formats,” said Dr. Sunil Shekhawat, CEO and Co-Founder, SanchiConnect.
Additionally, he emphasized plans to incorporate artificial intelligence (AI) integrations, driving user engagement and delivering greater value. The funds will also support regional expansion.
Investor Commentary
Rahul Bhasin, Managing Partner, Baring PE Partners-India, said, “We seeded the idea of SanchiConnect three years ago to strengthen the early-stage deep tech startup ecosystem. “The way it has evolved and had a positive impact on the industry makes us proud to be the founding partner.”
Chirag Gupta, Managing Partner, 8X Ventures, said, “Our inclination towards the vision of SanchiConnect increased manifold when we met Dr. Sunil in 2022. We are delighted to partner with SanchiConnect to drive the enablers of this industry using optimal technology.”
Manoj Agarwal, Managing Partner at Seafund, added: “We have been closely watching the work SanchiConnect has been doing through startup acceleration and community building. The launch of their SaaS platform and its adoption by leading incubators and corporate programs gave us the confidence to join their journey as investors.”
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