In a pioneering blended finance model, IndusDC, a venture studio dedicated to reducing 1 gigatonne (GT) of CO2 emissions by 2035, has allocated ₹100 crore for FY25 and FY26 to identify and co-build hard tech startups in India.
IndusDC will focus on opportunities and support innovations primarily in the industrial and energy sectors, which account for more than 70 percent of global CO2 emissions. The venture studio aims to establish 5 startups in India within the next 2 years and over 50 globally in the next decade. Acting as a co-founder, IndusDC will work closely with its entrepreneurs in residence (EIR) to develop lab-stage ideas or IPs up to the product market-fit (PMF) stage.
The studio will oversee various stages of development including product development, pilot production, digital technology integration, customer validation, startup governance, team building, and fundraising support.
Each startup funded by IndusDC will have access to ₹20 crore in capital, comprising grants for tech development, equity for early revenue until profitability, and debt or working capital for scaling beyond profitability. This unique blended finance model (grant, debt, and equity) allows hard-tech startups to focus on value creation, reducing the need for continuous equity capital raises.
IndusDC has already secured a commitment agreement for the first 5 startups from Mirik Gogri of Spectrum Impact, the family office of Aarti Industries Ltd promoters.
Kushant Uppal, founder and CEO of IndusDC, highlighted that the global energy transition journey will create $40 trillion in new business opportunities. He emphasized that labs and inventors worldwide possess the best technologies for CO2 emission reduction. The challenge, according to Uppal, lies in building ventures by identifying the right IP, forming the right teams and processes, maintaining customer focus, and providing appropriate capital throughout the venture-building journey.
“At IndusDC, we are building platforms to support each stage of a startup’s growth from lab to market,” said Uppal. “Our team is deeply committed to setting benchmarks for an IP-focused decarbonisation venture studio and making it an attractive asset class for investors.”
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