India Accelerator (IA), a leading startup accelerator, has unveiled RUMS (Robotics, Unmanned & Space), a new vertical dedicated to fostering innovation and growth in the robotics, unmanned systems, and space technology sectors.
RUMS is recognized as India's first accelerator exclusively focused on these emerging fields. It aims to invest US$8-10 million in early-stage startups through its partner entity, Finvolve, providing crucial financial backing to propel innovation. The initiative is spearheaded by Lt Gen Anil Chait, a seasoned Indian Army veteran, leveraging his 40 years of experience in operations, counter-insurgency, and disaster relief.
Lt Gen Chait emphasized the critical role of robotics and unmanned technologies in sectors like defence, healthcare, and others. Arindam Mukhopadhyay, Partner & Head of Corporate Innovation at IA, further highlighted the expanding applications of these technologies in agriculture, warehousing, healthcare, and logistics. RUMS is poised to address the growing demand for agile technology solutions in these diverse sectors.
The launch of RUMS aligns with India's ambitious goals of becoming a global leader in defence production and drone technology by 2030. The government's supportive policies, including liberalized drone regulations, are fostering a conducive environment for Indian startups to thrive and reduce dependence on foreign technology.
IA's commitment to RUMS is evident in its recent investment of nearly US$1 million in a Bengaluru-based deep-tech startup specializing in advanced air defense systems. This investment exemplifies IA's dedication to building a robust ecosystem for robotics and unmanned aerial systems (UAS) startups in India.
IA's impressive track record includes supporting 225 startups by January 2024, with two-thirds successfully securing follow-on funding. The accelerator has exited 33% of these startups, achieving a remarkable six-fold return on investment over the past six years.
Beyond RUMS, IA is actively involved in various other niche sectors, including Energy & Mobility, Circular Economy, Sustainable Development, Generative AI, and Media Entertainment & Gaming. The launch of RUMS further solidifies IA's commitment to empowering startups with the financial and strategic resources needed to achieve market success and long-term sustainability.
With the introduction of RUMS, India Accelerator is poised to play a pivotal role in accelerating the growth of robotics, unmanned systems, and space technology startups in India. This initiative will not only drive technological innovation but also contribute to India's economic growth and self-reliance in these critical sectors.
