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The funding round was led by RPSG Capital Ventures, with participation from existing investors Veltis Capital, Multiply Ventures, and Dominor Investments.
Aimed at supporting AI, IoT, semiconductor and deep-tech sectors, the challenge will back 10 selected startups, while the top three winners share a INR 10 lakh prize pool and mentorship support.
The proposed centre aims to build one of India's largest AI ecosystem hubs focused on talent development, innovation and responsible adoption of artificial intelligence.
The firm, known for backing companies such as Canva, Zepto and Anthropic, plans to support Indian startups across intelligence, healthcare, defence technology, fintech and consumer technology.
According to the announcement, the fund, to be carried by Qualcomm Ventures, the company’s global investment arm, will support startups at all growth stages.
The capital will back AI, defence tech, healthcare, industrials, and fintech, reinforcing the firm’s deepening India presence, marking one of the largest VC bets in the country.
The strategic buyback marks a significant milestone for the cryptocurrency exchange as it seeks to reward long-term contributors and strengthen employee ownership.
OpenAI announced 'OpenAI for India' to expand AI access through partnerships with TCS, JioHotstar, and MakeMyTrip among others, while also expanding its offices and upskilling programs in the country.
Reliance Industries and its telecom arm Jio will invest $109.8 billion over the next seven years to build artificial intelligence and data infrastructure
As part of the initiative, Addverb is using NVIDIA Omniverse libraries and NVIDIA Cosmos World Foundation Models to create high-fidelity digital twins of warehouses and industrial environments.