NEW DELHI: Industry veteran and globally celebrated former HCL Technologies’ CEO, Anant Gupta on Friday launched a Rs 100 crore investment fund Techcelx, to invest in startups that focus on digital technologies like machine learning, Internet of Things, artificial intelligence and analytics.
As an integrated business acceleration and technology investment firm, Techcelx will focus on developing digital technology products and platforms in enterprises. Techcelx will invest between Rs 50 lakh and Rs 10 crore in disruptive technology ventures and the company will decide on holding share anywhere between the range of 15% and 51%. Three other key partners from Investment banking and technology sectors are backing this fund.
“With TECHCELX I am pursuing my long-term goals and passion towards promoting our country’s entrepreneurship and innovation potential in the technology space,” said Anant Gupta, Founder Chairman & CEO, TECHCELX. “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,” added Gupta.
Gupta, at HCL, pioneered remote infrastructure management as an alternate to the prevalent total outsourcing model. He is widely recognized as a visionary Technologist who was one of the founders of Comnet, India’s most successful technology startups in recent times.
HCL on Friday also announced the elevation of its Chief Operating Officer C Vijayakumar to the top position in the company to replace Gupta.