The venture fund will invest in early-stage product innovation startups, seed funding of up to Rs 3 crore and subsequent co-investment at series A stage of up to Rs 5 crore, a statement said.
Rajiv Mody, CMD and CEO of Sasken said this award comes as a resounding validation of it being the industry leader in a host of mobility and digital technologies.
Sasken saw an improved performance, both on topline as well as EBITDA. According to Rajiv Mody, chairman and chief executive officer, it has been a decent quarter. He expects to see solid demand, primarily form the semiconductor and handsets business led by Android operating system.
Rajiv Mody, CEO of Sasken, in an interview with CNBC-TV18's Ekta Batra and Reema Tendulkar, gave his perspective of the fourth quarter performance and their divulged future plans.