IIT Kanpur get $3.5 million investment from Foxhog Ventures
US-based venture capital firm Foxhog Ventures Corp has announced a Corporate Social Responsibility (CSR) investment of $3.5 million (INR 25 crore) to support innovative startups incubated at the Indian Institute of Technology Kanpur (IIT Kanpur) through the institute’s Startup Incubation and Innovation Centre (SIIC).
Mr. Tarun Poddar visited IIT Kanpur on 11 June 2025, where he engaged with student entrepreneurs and early-stage ventures and pledged strategic support to bolster India’s innovation ecosystem. The visit included an insightful presentation by Prof. Deepu Philip, Professor-in-Charge (Incubation & Innovation),SIIC IIT Kanpur, highlighting SIIC’s vision and milestones. Mr. Piyush Mishra, COO and CFO of SIIC, was also present during the engagements.
As part of the visit, a select group of SIIC-incubated startups presented their products and technologies, showcasing innovations in defence and aerospace, agritech, and sustainability. Mr Poddar engaged with the founders, discussing their innovations, business models, and growth strategies. In an engaging interaction with students, Mr. Poddar shared inspiring personal stories—tracing his journey from Stanford to his current role as CEO of Foxhog—and spoke about the leadership lessons that shaped him.
The CSR funds will be directed towards startups working in defense and aerospace, agritech, and sustainability. Beyond CSR and CEO fund, Foxhog Ventures will explore further capital infusion through equity, debt, and convertible notes, forming part of a wider commercial investment strategy.
Prof Deepu Philip said, “At SIIC IIT Kanpur, we believe in empowering cutting-edge tech-product oriented startups with the right mentorship, capital, and infrastructure mix. Foxhog Ventures’ support is a strong endorsement of our mission. 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) between IIT Kanpur and Foxhog Ventures will be prepared, under which IIT Kanpur will play a key role in evaluating, mentoring, and monitoring the startups receiving support, ensuring rigorous technical due diligence and alignment with national priorities.
