- In an effort to assist female entrepreneurs, Prosus wrapped up its first Tech FoundHER Challenge
- Four female-led startups received grants totaling $100,000 that were equity-free
- In India's startup ecosystem, the initiative aims to close the gender funding gap
Prosus has successfully concluded its inaugural Tech FoundHER Challenge, giving four women-led startups a total of $100,000 in equity-free grants. In India's startup ecosystem, where women-led businesses continue to receive less than 3 percent of venture capital funding overall, the initiative was started to help close the gender funding gap.
120 startups from 22 cities and 14 industries, including agritech, fintech, healthcare, climate tech, and artificial intelligence, submitted applications for the challenge. Seven finalists were selected to present their innovations to a panel of industry experts following an initial technical screening conducted by startup readiness platform Vaia.
Lightbulb, an Emotion AI startup that combines visual and conversational AI to analyse digital user engagement, emerged as the top winner, receiving a $50,000 grant. RxMen, a digital health platform focused on men’s sexual wellness, secured second place and was awarded $30,000. Climate tech companies Varaha, which helps smallholder farmers generate carbon credits, and Digital Paani, an IoT-based wastewater management solution, each received $10,000.
Along with senior Prosus executives like CEO Martin Tshopp, CFO Priyanka Chopra, India Head of Investments Ashutosh Sharma, and VP of Sustainability Prajna Khanna, the jury comprised representatives from Blume Ventures, Amazon, and Rukam Capital.
They commended the caliber and promise of the participating startups. As a guest of honor, former Union Minister Smriti Irani also attended the event, highlighting the significance of assisting female entrepreneurs in advancing social impact and innovation.
