KANPUR, 28 June 2025: Providing a significant boost to India's burgeoning startup ecosystem, US-based venture capital firm Foxhog Ventures has announced a $3.5 million (INR 25 crore) Corporate Social Responsibility (CSR) investment to support early-stage companies at the Indian Institute of Technology Kanpur (IIT Kanpur).
The funding will be channeled through the institute's Startup Incubation and Innovation Centre (SIIC).
The investment is earmarked for startups operating in the critical sectors of aerospace, defence, and agritech. This initiative aims to nurture and scale innovative solutions emerging from one of India's premier engineering institutions.
In addition to the primary CSR fund, Tarun Poddar, CEO of Foxhog Ventures, has established a dedicated CEO Fund. This personal initiative will provide research and development grants to newly incubated startups whose missions align with Foxhog's social impact goals.
Poddar visited the IIT Kanpur campus on Wednesday, where he interacted with student entrepreneurs and faculty. "Innovation with purpose has the power to change lives and nations," he stated. "We see immense potential in India's youth-led startup ecosystem, especially in critical sectors like defense, aerospace, agritech, and sustainability. Our CSR initiative at IIT Kanpur is a step towards nurturing this talent and creating meaningful social impact."
During his visit, a select group of SIIC-incubated startups presented their technologies and business models. Mr. Poddar engaged with the founders, discussing their growth strategies and sharing insights from his journey from Stanford to leading Foxhog.
Professor Deepu Philip, Professor-in-Charge of Innovation and Incubation at SIIC, welcomed the collaboration. "Foxhog Ventures’ support is a strong endorsement of our mission," he said. "This partnership will amplify our efforts to translate breakthrough ideas into scalable product-based solutions that will power our country’s rapid growth."
A formal Memorandum of Understanding (MoU) is being drafted to outline the partnership. Under the agreement, IIT Kanpur will be responsible for the evaluation, mentorship, and monitoring of the startups receiving support, ensuring rigorous technical due diligence and alignment with national priorities. Beyond the initial CSR commitment, Foxhog Ventures will also explore further capital infusion through equity, debt, and convertible notes as part of a broader commercial investment strategy.
