Capital-A Partners with SanchiConnect to Launch MaXcel, a New Manufacturing Startup Accelerator

Muskaan Kapoor

15 Apr 2025 — 3 min read

Capital-A Partners with SanchiConnect to Launch MaXcel

The program will offer an overall INR 18-20 crore in fast-track funding, tailored go-to-market support, and strategic mentorship to 5–6 selected ventures.

Capital-A, an early-stage B2B-focused venture capital firm, has partnered with SanchiConnect, India’s leading deeptech ecosystem platform, to launch MaXcel, a first-of-its-kind accelerator dedicated to startups and MSMEs building in the manufacturing and allied sectors. MaXcel is backed by Capital-A’s years of investing in the manufacturing sector and supported by SanchiConnect’s extensive network of incubators, investors, and corporates.

MaXcel will focus on early-stage startups building in precision manufacturing, advanced materials, semiconductors, IoT, frugal industrial automation, robotics, smart factory systems, and hardware-software integration. The program is open to startups with a minimum viable product (MVP), pilot traction, or early revenue and is designed to offer funding and meaningful pathways to scale.

While manufacturing contributes approximately 13% to India's GDP and employs over 27 million workers, the sector remains underrepresented in venture capital. MaXcel aims to address this disparity by backing emerging startups in the manufacturing space that are capital-efficient, have defensible technology, and are poised to play a pivotal role in India's transition toward world-class manufacturing.

Shortlisted startups will receive INR 3–4 crore in fast-track funding, with term sheets issued within 30 days. The 24-week program also includes a structured 12-week go-to-market module featuring direct connections with corporates, pilot opportunities, and participation in an offshore global demo day. In addition, founders will benefit from dedicated one-on-one mentoring sessions with functional experts, industry veterans, and successful entrepreneurs.

Speaking about this, Ankit Kedia, Founder and Lead Investor, Capital-A, said, “We are thrilled about MaXcel and its potential to catalyse the next wave of innovation, that will come from the shop floors, factories, and industrial corridors of India. Capital-A’s deep manufacturing experience along with SanchiConnect's widespread access to the ecosystem, MaXcel will serve as a launchpad for founders building in the sunrise manufacturing sector.”

Adding further, Dr Sunil Shekhawat, Co-founder, SanchiConnect, said, “This collaboration is about reimagining what’s possible when innovation meets execution. MaXcel isn’t just a program but a catalyst for the next generation of industrial leaders.”

As part of the MaXcel launch, a multi-city roadshow and meetup series is being organised across India, covering key manufacturing and innovation hubs such as Bangalore, Pune, Ahmedabad, Indore, Guwahati, Coimbatore, Kochi and Noida. These events aim to engage with MSME founders, regional ecosystem enablers and government partners, building awareness and driving high-quality applications to the program.

With India positioning itself as a global manufacturing hub under the China+1 strategy and bolstered by policies like the Production Linked Incentive (PLI) and Design Linked Incentive (DLI) schemes, MaXcel aims to support a new wave of the Indian industrial revolution with global relevance.

MaXcel will be inviting startup applications until May 10, 2025.

About Capital-A

Established in 2021 by renowned industrialist Ankit Kedia, Capital-A is a pioneering early-stage venture capital firm that champions the advancement of startups across diverse sectors, including manufacturing, climate, deep tech, fintech, and other tech-enabled businesses. With a clear focus on enterprise businesses and scalability, the firm's second fund targets a corpus of Rs. 400 crore. The firm has already backed over 25 innovative startups, including Agrileaf Matchlog, Leumas, Rooter, Riskcovry, and Tan90, and continues to unlock both tactical and long-term value for its portfolio companies.

About SanchiConnect

SanchiConnect is India’s leading early to growth stage B2B deeptech startup ecosystem platform connecting startup founders, incubators, corporates, industry experts and institutional investors through tech-driven matchmaking and accelerator programs.