NEW DELHI:
ArcVentures of India and Leave A Nest Co., Japan today announced a strategic partnership to introduce innovative yet workable solutions to combat the air and water pollution problems.
Under the partnership, a technology incubator fund called ArcNest was launched with an investment of INR 50 crores in New Delhi today. The size of the fund will be increased organically and support players in various sectors aiming to improve human lives through technology.
ArcNest aims to provide potential start-ups with cutting-edge technologies, Intellectual Property (IP) and funding to address challenges faced by India in the areas of air, water purification and solid waste management. The venture will bring innovative IPs to India which will be leveraged by ArcNest to develop products and solutions in the field of air and water purification. The company is planning to manufacture products at a 24,000 sq. ft. facility in Coimbatore, Tamil Nadu and also planning to explore a Public-Private Partnership (PPP) with various state governments.
ArcNest is dedicated to expand the reach of advanced scientific research and modern technology to address challenges faced by the people. In its early stage, ArcNest will leverage the IPs brought to India to help start-ups reach prototype stage and scale up solutions along with the business.It also plans to make products/services indigenously by leveraging the immensely talented and skilled youth in the country.
Commenting on the launch, Arjun Aggarwal, Co-Founder of Arc Ventures said, “Clear air and clean water is a fundamental right of every citizen but the current situation is far from reality. Through ArcNest, we aim to develop and deliver effective technology-based solutions to bring about a change in the current quality of air and water we consume. We also believe that technology brings potent solution to the complex and persistent problems the world is facing today.”
According to Yukihiro Maru, Founder and CEO, Leave a Nest Co., “Driven by our vision of ‘Advancing Science and Technology for Global Happiness’, we aim to provide solutions to various issues with technology at the core. With ArcNest, we aim to nurture and deliver the next technology disruption from an early-stage to reality by companies committed to transform the Indian society. We will be actively supporting entrepreneurs brimming with novel ideas and provide them a supportive platform through our venture.”
ArcNest is the conglomeration between India based venture firm Arc Ventures founded by Arjun Aggarwal with Yukihiro Maru, Founder and CEO, Leave a Nest Co., to bridge the gap between industrial solutions and societal challenges using scientific and industrial support. ArcNest is going to fuel its resources in engaging communities with science education, human resource training and research development initiatives. In order to internationalize the Indian start-up community,more projects will be created with major Japanese corporations.
