IIM-A’s venture investment arm Infuse backs four more cleantech startups
IIM Ahmedabad’s tech incubator CIIE (Centre for Innovation Incubation and Entrepreneurship) has announced that its cleantech fund, Infuse Ventures, has made its second close at Rs 110 crore ($18 million) and aiming to make a final close at around Rs 125 crore ($20 million).
Infuse Ventures, which was originally targeting to raise Rs 75 crore for the second close, had made first close last May.
“We had a total commitment of around Rs 60 crore when we made the first close last year. We are also looking at raising another small round at around Rs 15-odd crore,” said Kunal Upadhyay, CEO, CIIE.