Electronics Development Fund invests $139.23 million into 128 startups.

The Ministry of Electronics and Information Technology’s (MeitY) Electronics Development Fund (EDF) has driven significant growth in India's innovation ecosystem by catalyzing ₹1,335.77 crore (US$ 139.23 million) in investments for 128 startups across the ESDM and IT sectors. Functioning as a Fund of Funds, EDF invested ₹257.77 crore (US$ 26.87 million) into eight SEBI-registered venture capital "Daughter Funds" as of June 30, 2026, which in turn funded startups developing indigenous technologies and intellectual property. Managed by Canbank Venture Capital Funds Ltd. with MeitY as anchor investor, the initiative saw Karnataka emerge as the primary beneficiary, with Bengaluru accounting for 89 funded companies and ₹854.54 crore (US$ 89.07 million) in investments, alongside substantial allocations to hubs like Hyderabad, Mumbai-Pune, Delhi, and Chennai. The program funded 77 ESDM and 51 IT companies, selecting ventures based on innovation, technical expertise, IP creation, and commercial scalability. Beyond initial seed capital, the EDF enabled Daughter Funds to leverage standard market capital by nearly fivefold, helping portfolio startups secure a collective ₹22,553.82 crore (US$ 2.35 billion) in funding while generating or acquiring 373 intellectual properties. Having wrapped up its active investment phase in February 2024, the fund has now transitioned into its divestment phase, continuing to reinforce India's objective of becoming a global hub for technology development and electronics manufacturing. $CANBK $DIXON $KAYNES $BEL