IndusDC Earmarks INR 100 Cr to Build Decarbonisation Hard Tech Startups IndusDC plans to build five startups in the next two years and over 50 globally in the next decade.

IndusDC, an Indian venture studio aiming to reduce 1 GT of CO2 emissions by 2035, has earmarked INR 100 crores (USD 12 million) for FY 25 and 26 to co-build hard tech startups.

The focus is on the industrial and energy sectors, which account for over 70% of global CO2 emissions. IndusDC plans to build five startups in the next two years and over 50 globally in the next decade.

Each startup founded by IndusDC will receive INR 20 crore (USD 2.4 million) in capital as a combination of grants for tech development, equity for early revenue until profitability, and debt/working capital for scaling.

Mirik Gogri, Principal, Spectrum Impact (family office of Aarti Industries Ltd's promoters), said, "We are thrilled to invest and partner with IndusDC in their mission to cut 1 GT of CO2 emissions by 2035! The seasoned entrepreneurial founding team is uniquely positioned to identify critical IP entrepreneurs and build global ventures."

According to IndusDC, the studio has already received a commitment agreement for the first five startups from Mirik Gogri of Spectrum Impact, - family office of Aarti Industries Ltd promoters.

Backed by notable investors like Mirik Gogri, Ashish Gupta, and Sri Myneni, IndusDC was founded in 2023 by Kushant Uppal, Satyanarayanan Seshadri, and Kaustubh Hanmantgad.

Kushant Uppal, Founder and CEO, IndusDC, said, "At IndusDC, we are building platforms to address each stage of the startup as they scale from lab to market. Our team is deeply committed to establishing the benchmarks for an IP-focused decarbonisation venture studio and making it an attractive asset class for investors."

At present, the studio is building three hard-tech startups in association with IIT Madras. It will explore partnerships with other technology and research institutes to identify intellectual properties and build ventures.