Nexus start-up hub on Thursday announced that one of its portfolio companies Clensta has raised a pre-series A investment at a valuation of $4 million from Indian and Netherlands-based investors.
The investment will help the Delhi-headquartered Biotechnology startup Clensta to scale up their business development efforts as well as continue their ongoing research in related products, Nexus said in a statement.
Clensta was part of the Nexus pre-incubation program, an intensive ten-week business mentoring program to help start-ups to successfully enter the market and scale up their businesses. The startup was one of 15 companies selected out of over 110 applicants to participate in the Nexus incubation program in New Delhi. They were also one of four companies selected for the long-term incubation at Nexus.
Founder of Clensta International, Dr. Puneet Gupta is an alumnus of IIM Calcutta and is an expert in the fields of imaging and healthcare. He is globally recognized for his contributions to scientific and international military programs through his work at DRDO and Ministry of Defense.
The team also consists other notable alumni from the best institutes of India, Dr. Ashish Pandey of IIT Delhi, Mohit Chelani of IIM Calcutta, Dr. Anurag Rathore and Dr. Chariar of IIT Delhi.
Nexus is a collaboration between the American Center and the IC^2 Institute of the University of Texas at Austin and it showcases the best of American and Indian entrepreneurship, innovation and technology.
Located in downtown New Delhi, Nexus serves as a central hub for entrepreneurs, innovators, faculty, government agencies, industry players and funding organizations interested in gathering, interacting and collaborating to promote Indian start-ups and the local entrepreneurial ecosystem.
The Nexus Incubator offers selected start-ups unparalleled access to networks of industry and government partners, training from the top commercialization experts around the world, an extensive mentor network as well as access to both private and public fund managers specializing in supporting start-ups. Nexus has now started accepting applications for its third cohort starting from January 26.