Rhiti Group, one of India's fastest-growing conglomerates with interests in sports, health & fitness, branded retailing and film production & Kanodia Group, a pioneer in the Cement Industry today announced the partnership to launch the 'Deep Pockets Capital Venture LLP' in India to fund, incubate and help budding entrepreneurs transform their dreams into reality.
With the greater emergence of technology in every walk of life, Deep Pockets aims to incubate and provide funding to innovative tech start-ups and contribute to USD 5 Trillion economy goal of the government.
The criteria of funding will be Innovation, creativity and business potential with an aim to nurture India's new business generation and support them for future. The Deep Pockets visions to partner with founders of selected companies and amplify their business from seed to scale.
Arun Pandey, Chairman & MD Rhiti Group and Founder Deep Pockets said, "India is on a cusp of revolution in technology with new tech like AI, IoT and Blockchain are going revolutionize every walk of our lives, be it Agriculture, Finance, entertainment in coming few years. At this opportune moment, it is essential to support and nurture India's technology start-up ecosystem, we are happy to announce our new venture capital initiative 'Deep Pockets'. We aim to help entrepreneurs thrive by giving them the capital and resources they need and are looking at funding business from INR 25 lakh to INR 2 crore."
Vishal Kanodia, MD Kanodia Group and Founder of Deep Pockets said, "Our objective with Deep Pockets venture is to identify highly potential businesses in early stage and work towards growing together with a long-term vision. We will be on a look out for right companies with capable founders to be part of their journey and help financially and advice with our years of experience. A right business idea coupled with passion and commitment from the team is the key to success."
Deep Pockets venture Focus areas and technology for funding
Entertain Tech - Film Making, Web Series and TV Serials etc
Sports Tech - Latest technology driving the sport's tech-savvy DNA on a global level for sports like Cricket, Badminton, Kabaddi, and Football.
Health Tech - Consumer Healthcare business that combines science and consumer insights to create innovative everyday healthcare.
Auto Tech - Automotive Technology boosting smartest mobility sector that helps easy connectivity and decreases the delivery time.
Agri Tech - Emerging agri-tech innovations, the world accounts every 9th Agri-tech start-up as an Indian start-up.
FinTech - FinTech software and other modern technologies used by businesses that provide automated and improved financial services.
Consumer Tech - The consumer technology with long-term objective of convergence
Media - Entities having potential to grow using technology
Other Technology - Innovative and high technology systems that can be approached and used in different fields, 3D printing in one such department.
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( With inputs from ANI )
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