GAIL (India) Limited will invest Rs. 500 crore in its Start-up Investment Fund, increasing the corpus to be invested in start-ups from Rs 100 crore to Rs 500 crore.

The move is aimed at fostering innovation, supporting emerging businesses and accelerating the growth of India’s start-up ecosystem.

The state run gas distribution company will deploy the  increased fund for nurturing promising start-ups across various sectors with focus on clean energy, renewables, energy  storage, electric mobility and digital transformation, etc.

GAIL had launched its ambitious Start-Up initiative ‘Pankh’ in July’ 2017 to invest in promising start-ups. Till date, it has made investments in 36 start-ups operating in various areas including CBG, electric mobility, IoT, logistics and environment etc.

“By increasing our start-up investment fund to Rs 500 crore, we aim to provide greater financial and strategic support to entrepreneurs working on breakthrough ideas. We expect that the start-ups funded by GAIL may turn into successful companies and help in realizing India’s vision of becoming a ‘Start-up Nation',” said Sandeep Kumar Gupta, CMD, GAIL.

Details about GAIL Pankh are available on https://gailebank.gail.co.in/GSUICBG/index.aspx