Anant Gupta, the former chief executive officer of HCL Technologies after quitting his top role has now set up an integrated business acceleration and technology investment firm called ‘TechCelX’. In addition, it has launched ₹100 crore startup fund with an immediate focus on enterprise-focused, cutting-edge digital technology products and platforms.
This company set up by former HCL exec is a first-of-its-kind setup, specifically aimed at filling the innovation gap in established as well as emerging startups in India. It is looking to invest somewhere between Rs. 50 lakhs and Rs. 10 crore in disruptive technology ventures in exchange for an equity stake in the range of 15 and 50 per cent. This fund is also being backed by three other partners from investment banking and tech sectors.
Commenting on the launch of the investment fund, Anant Gupta, founder Chairman & CEO at TechCelX says,
With TECHCELX, I am pursuing my long-term goals and passion towards promoting our country’s entrepreneurship and innovation potential in the technology space.
The launch of this Rs. 100 crore fund is a significant step in this direction where we will be focusing on ventures with specialization in technologies like Machine Learning, IoT (Internet of Things), AI, Analytics and Data Science and Automation across three main sectors of Banking, Education and Healthcare. Our vision is to help startup organizations develop and apply next-gen technology solutions to disrupt legacy operating models.
In addition to being an investment fund, TechCelX also offers innovation programs that are focused on improving customer engagement, experience, and outcomes through digital re-engineering. Under this program, it is gearing up to launch co-innovation labs to partner with companies to build a dedicated environment for incubating startups; and Innovation Plugs to aggressively accelerate them in-house.
Anant Gupta, an industry veteran, is a globally celebrated chief executive who is widely recognized as a visionary technologist. He is widely recognized for his former role as the CEO of $6.2 billion IT giant HCL Technologies Pvt. Ltd. Prior to being bumped up to the executive role, he was the president of the infrastructure services division and pioneered remote infrastructure management as an alternative to the prevalent total outsourcing model. He also helped the company foray and produce business results in a competitive global market.