IIIT Delhi Center Boosts Startups with INR 50 Lakh Investment under Start-up India Seed Fund

IIITD Innovation & Incubation Center has invested INR 50 lakh each in SHS Retail Venture Pvt Ltd (Peore) and Climatech Environment Pvt Ltd under the Start-up India Seed Fund Scheme, reaffirming its commitment to supporting early-stage start-ups.

The Indraprastha Institute of Information Technology (IIIT) Delhi Innovation & Incubation Center has announced a significant step forward in supporting innovative start-ups by making investments of INR 50 lakh each in SHS Retail Venture Pvt Ltd (Peore) and Climatech Environment Pvt Ltd. These investments are made under the esteemed Start-up India Seed Fund Scheme, which is designed to foster the growth and development of early-stage start-ups across various sectors.

Investment Details

The investments in SHS Retail Venture Pvt Ltd (Peore), which focuses on retail innovation, and Climatech Environment Pvt Ltd, dedicated to sustainable environmental solutions, reflect the Center’s unwavering dedication to supporting ventures that offer transformative solutions to modern problems.

• SHS Retail Venture Pvt Ltd (Peore): INR 50 lakh as a Debt Fund.
• Climatech Environment Pvt Ltd: INR 50 lakh through Compulsory Convertible Debentures.

About the Start-ups

SHS Retail Venture Pvt Ltd (Peore), founded and led by Raghav Mundhra, is transforming water purification with its cutting-edge Nano-filtration technology. Their advanced water purifiers not only conserve water and preserve essential minerals but also offer a more sustainable and cost-effective alternative to traditional RO systems by significantly reducing maintenance costs. This innovation provides an environmentally friendly solution for both households and industries.

Climatech Environment Pvt Ltd, founded by Dr. Kuldeep Singh Rathore and Dr. Pramod Kr. Sharma, is at the forefront of carbon capture innovation with its groundbreaking Direct Air Capture (DAC) technology. This novel solution efficiently extracts carbon dioxide from the atmosphere and converts it into graphite and oxygen using a unique solvent, all without the need for external energy inputs. Their work is setting a new benchmark in carbon capture technology and advancing sustainability efforts.

The founders of both start-ups were honoured by Prof. Ranjan Bose, Chairman of the IIITD Innovation & Incubation Center and Director of IIIT Delhi, who presented ceremonial cheques during a special event at the Center. The event was attended by Pankaj Vajpayee, CEO and Director of the Incubation Center, and Dean of Corporate Relations and Entrepreneurship at IIIT Delhi.

Speaking at the event, Prof. Ranjan Bose emphasised, “These start-ups exemplify the innovation and entrepreneurial spirit we strive to foster. Their pioneering solutions align perfectly with our mission to drive sustainability and create meaningful societal impact.”

With these investments, the Center reaffirms its commitment to nurturing early-stage start-ups and empowering them to scale new heights. “We are confident that these investments will enable both start-ups to achieve transformative growth and create lasting impact in their respective fields,” said Pankaj Vajpayee.

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