Ex-HCL CEO launches Rs 100 crore disruptive tech fund Techcelx | business-news | Hindustan Times
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Ex-HCL CEO launches Rs 100 crore disruptive tech fund Techcelx

business Updated: Oct 22, 2016 14:01 IST
HT Correspondent
HT Correspondent
Hindustan Times
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Former HCL Technologies CEO Anant Gupta on Wednesday started a new company named techcelx under which it will offer Rs 100 crore of funds for disruptive technology ventures. (via Livemint)

Former HCL Technologies CEO Anant Gupta on Wednesday started a new company named techcelx under which it will offer Rs 100 crore of funds for disruptive technology ventures.

“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 and CEO of the company, said.

“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”, he added.

The company will invest between Rs 50 lakh and Rs 10 crore in disruptive technology ventures and the shareholding will range between 15% to 51%.