IIITD Innovation & Incubation Center Backs Start-ups with ₹1 Crore Investment

New Delhi, 6th January 2025 – The IIITD Innovation & Incubation Center has announced investments of ₹50 lakh each in M/s SHS Retail Venture Pvt Ltd (Peore) and M/s Climatech Environment Pvt Ltd, under the Start-up India Seed Fund Scheme. The initiative aims to bolster start-ups deploying advanced technologies to tackle critical issues.

Investment Details

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

Start-up Profiles

• SHS Retail Venture Pvt Ltd (Peore): Spearheaded by Mr. Raghav Mundhra, Peore introduces Nano-filtration water purifiers that preserve essential minerals and reduce water wastage, offering a sustainable alternative to traditional RO systems.
• Climatech Environment Pvt Ltd: Co-founded by Dr. Kuldeep Singh Rathore and Dr. Pramod Kr. Sharma, Climatech specializes in Direct Air Capture technology, converting atmospheric CO2 into graphite and oxygen without external energy, setting a new standard in carbon capture.

Ceremony and Remarks

During a ceremonial event at the Center, Prof. Ranjan Bose, Chairman of the IIITD Innovation & Incubation Center and Director of IIIT Delhi, presented the investment cheques to the start-up founders. Mr. Pankaj Vajpayee, CEO of the Incubation Center, and Dean of Corporate Relations and Entrepreneurship at IIIT Delhi, also attended the event.

Prof. Bose commented, “These start-ups epitomize the innovative and entrepreneurial spirit that drives our mission. Their pioneering solutions are well-aligned with our commitment to sustainability and societal progress.”

Future Prospects

The IIITD Innovation & Incubation Center’s investment reaffirms its dedication to nurturing early-stage ventures and facilitating their growth. Mr. Vajpayee expressed confidence in the potential of the start-ups to make significant strides in their fields, contributing to innovation and sustainability.

This strategic move positions SHS Retail and Climatech Environment to scale their operations and influence, paving the way for advancements in water purification and carbon capture technologies.