Capital A, SanchiConnect Back Three Manufacturing Startups Under MaXcel
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Capital-A and SanchiConnect have jointly selected and backed three early-stage startups through the MaXcel platform, following a nationwide evaluation of more than 2,000 applications.
The selected startups including Enerzi, Misochain and Quintrans, were inducted at an invite-only ecosystem gathering in Bengaluru attended by founders, investors and industry participants.
Focus on Early-Stage Manufacturing Gap
India is home to more than 3,000 deeptech startups and has attracted over $10 billion in cumulative funding in the past decade, according to NASSCOM and Boston Consulting Group. However, a significant portion of this capital has been directed toward software-driven and later-stage ventures, leaving capital-intensive manufacturing startups at a relatively early stage of development.
Manufacturing currently contributes around 16–17% to India’s GDP, with national policy targets aiming to raise this share to 25%. Early-stage ventures in sectors such as energy transition, aerospace, industrial hardware, electronics and semiconductors often require longer development cycles, pilot deployments and on-ground validation before achieving commercial scale.
“India’s manufacturing and deeptech founders are solving some of the most complex engineering challenges of our time, yet they remain underserved by traditional venture capital that prioritizes faster, software-led returns. MaXcel was built on the conviction that early-stage industrial innovation deserves patient capital paired with hands-on technical evaluation. Our focus has been to identify teams capable of translating deep research into deployable systems and support them as they move toward repeatable industrial adoption,” Ankit Kedia, Founder and Lead Investor at Capital-A, said.
To assess these businesses beyond pitch presentations, Capital-A and SanchiConnect conducted roadshows in Bengaluru, Pune, Ahmedabad, Kochi and Coimbatore, evaluating engineering depth and readiness for deployment within operational manufacturing environments. Three startups were selected based on technical capability, scalability and commercial potential.
Enerzi is developing methane-to-hydrogen conversion systems intended to lower emissions while generating carbon co-products for industrial use. Misochain is building indigenous flight-critical aerospace components along with in-house testing and certification capabilities. Quintrans is focused on direct-drive electromagnetic linear motion systems for industrial automation and robotics applications.
Founded in 2021, Capital-A focuses on early-stage investments in manufacturing, deeptech and climate-tech. The firm is currently deploying capital from its Rs 400 crore second fund and has backed over 20 startups, including Leumas, Tan90, Agrileaf and Manastu Space.
