Saudi Aramco’s Subsidiary Plans to Fund Indian Startup Ecosystem
Prosperity7 Ventures, a Saudi Aramco subsidiary, is eyeing a significant entry into India’s startup ecosystem with plans to invest US$ 200-300 million in early-stage startups. This strategic move signifies the company’s commitment to fostering innovation and entrepreneurship in one of the world’s fastest-growing economies.
The investment discussions come at a crucial time when the country’s startup ecosystem is witnessing renewed vigour, with sectors like fintech, e-commerce, cleantech, deep tech, and generative artificial intelligence (AI) demonstrating notable resilience despite previous funding challenges.
This resilience has attracted the attention of global investors, including Prosperity7 Ventures, looking to capitalize on the country’s growing entrepreneurial landscape and technological advancements.
As India continues to nurture its startup ecosystem, with over 68,000 startups and a rising number of unicorns and soonicorns, collaborations with Saudi Aramco’s venture capital arm will play a vital role in shaping the future of innovation and entrepreneurship in the country.