The Tech Panda examines the forces shaping ecosystem behaviour and investment sentiment in India.
Groww Foundation Bets on AI, Deeptech, Defence & Climate Innovation at IIT Bombay
Groww Foundation, the philanthropic arm of Groww, announced the first cohort of the INV.ENT program, backing 19 ideas by 35 young innovators at the Indian Institute of Technology Bombay (IIT Bombay). The grants are the entry point of a program that will support over 100 student teams a year, with the strongest ones rewarded the Grand Challenge Fellowship with its larger, milestone-based support.
“At Groww Foundation, our mission since day zero has been to empower India’s youth with opportunities to learn, build and innovate. INV.ENT is a program born out of that belief,” said Kalpana Swaminathan, Head of Groww Foundation. “We see this as a launchpad, the place where young innovators get the mentorship, financial support and trust to take their first real shot, long before the world is watching. We’re excited to work closely with this cohort of innovators as they turn their conviction into something real, and we hope to look back one day and call this the starting point for some of India’s most impactful builders.”
Reflecting on what the first INV.ENT cohort represents for student innovation at IIT Bombay, Prof. Shireesh Kedare, Director, IIT Bombay, said, “At IIT Bombay, we believe that the distance between an idea and its impact is often determined by whether someone believes in it early enough. Our partnership with Groww Foundation through INV.ENT is built on that shared conviction. Young innovators deserve the freedom, resources, and encouragement to test bold ideas before the world expects results. Together, we are creating an ecosystem where students do not have to wait for permission to build. They can test, fail, learn, and move forward. That is how enduring innovation ecosystems are built.”
Mukund and the Team BeBrust, one of the winning teams, shared, “The overall experience of selection has been really helpful in improving our clarity. We understood the caliber of the team. We are now more confident in the innovation of our idea and in our mission, opportunity, and ability to perceive and experiment. We are looking forward to getting a bigger network and being at least one year ahead of our plan.”
Utho Cloud Announces 10,000 GPUs Expansion to Build India’s Sovereign AI Compute Backbone
Utho Cloud, India’s sovereign cloud and AI infrastructure platform, has announced its landmark commitment to deploy 10,000 GPUs in the next 7-8 quarters as part of its long-term vision to build India’s sovereign AI compute backbone. The investment will span NVIDIA’s enterprise-grade GPU portfolio, including the H200, H100, A100, RTX PRO 6000 Blackwell, and L4, enabling businesses, startups, researchers, and public sector organisations to access high-performance AI infrastructure hosted entirely within India.
Manoj Dhanda, Founder and CEO of Utho Cloud, said, “We have spent years building a cloud platform designed around India’s data sovereignty and regulatory requirements. With this expansion, we will offer guaranteed GPU availability without extended wait times, sovereign AI compute with data and model training hosted within customer jurisdictions, transparent and predictable pricing, and the flexibility to support workloads ranging from AI inference to large-scale model training. By combining 100% data residency, compliance with the Digital Personal Data Protection (DPDP) Act, and cost-efficient AI infrastructure, we aim to remove the barriers that have long limited access to high-performance AI computing and accelerate India’s journey towards becoming a global AI powerhouse.”
Allcargo Logistics Strengthens Supply Chains for India’s Specialised MSME Clusters
Allcargo Logistics, an integrated logistics provider through its Domestic Supply Chain, Express Distribution and Consultative Logistics businesses, is enabling MSMEs across India’s specialised manufacturing and artisan clusters with integrated, technology-enabled logistics solutions. By connecting production hubs with consumption markets across the country, the company is helping businesses improve supply chain efficiency, expand market reach, enhance delivery reliability and scale operations with greater confidence in an increasingly competitive marketplace.
Ketan Kulkarni, Managing Director & CEO, Allcargo Logistics, said, “India’s specialised MSME clusters are driving regional economic growth while preserving the country’s rich manufacturing and artisanal heritage. As these businesses expand into new markets, efficient and technology-enabled logistics become essential for ensuring speed, visibility and reliability across the supply chain. At Allcargo Logistics, we are committed to helping MSMEs scale confidently through integrated logistics solutions that strengthen competitiveness, improve market accessibility, and support sustainable growth. By combining nationwide reach, digital visibility and consultative logistics expertise, we are enabling businesses across India’s specialised clusters to build more agile, resilient and future-ready supply chains.”
Spice Money Launches ‘Growth Bus’ Campaign to Drive Rural Entrepreneurship Through Zero-Upfront-Investment Business Opportunities
Spice Money, Indian rural fintech platform and a subsidiary of DiGiSPICE Technologies, launched a new brand campaign, ‘Growth Bus’, a first-of-its-kind initiative that transforms a travelling bus into a hub for learning, collaboration and entrepreneurial growth. You don’t need deep pockets, a fancy college degree, or a one-way ticket to a crowded metro city to build a successful business anymore. That is the powerful, ground-level truth driving Growth Bus, the latest brand campaign by Spice Money, India’s leading rural fintech platform.
“True entrepreneurial spirit thrives in India’s small towns and villages, where people naturally lean on each other to learn and grow,” said Dilip Modi, Founder and CEO of Spice Money. “We want people to know that they don’t have to leave their families or hometowns behind to achieve financial success. With the ‘Growth Bus’ campaign, we are celebrating our Adhikaris not just as service providers, but as self-made local changemakers who started with minimal investment and are now driving the local economy forward.”
HDFC Mutual Fund Launches HDFC Nifty Auto Index Fund
HDFC Asset Management Company Limited (HDFC AMC), Investment Manager to HDFC Mutual Fund (HDFC MF), an Indian mutual fund house, launched HDFC Nifty Auto Index Fund (the “Scheme”), an open-ended scheme that seeks to provide investors an opportunity to participate in India’s automobile and auto ancillary growth story through a passive investment strategy. The New Fund Offer (NFO) opened on June 22, 2026 and closed on July 3, 2026.
Navneet Munot, Managing Director and Chief Executive Officer, HDFC Asset Management Company Limited, said, “At HDFC Mutual Fund, we remain committed to offering investors a diverse range of innovative investment solutions to fulfil our mission to be the wealth creator for every Indian. With HDFC Nifty Auto Index Fund, we aim to provide investors with an effective way to participate in the growth potential of the country’s Automobile sector and benefit from the enduring strengths. Backed by 20+ years of expertise in Index Solutions, we are well positioned to deliver this investment opportunity.”
