Wednesday, March 25, 2026: Global investors Accel and Prosus have doubled down on India’s early-stage innovation ecosystem, backing six startups under their Atoms X programme. The initiative targets founders building in emerging and deeptech sectors, reinforcing investor appetite for high-risk, high-impact ideas.
The newly selected cohort spans a wide range of sectors, including air purification, spacetech, cancer diagnostics, elder fitness, and brain-computer interface technologies, highlighting the programme’s focus on frontier innovation.
Under the structure of the partnership, Prosus matches every investment made by Accel. Individual cheque sizes range between $200,000 and $1 million from each investor, giving startups access to up to $2 million in combined funding.
The selection process was highly competitive under the Atoms X Programme, with more than 2,000 applications reviewed. Among the startups chosen are Praan, which develops air quality infrastructure systems, and QOSMIC, a satellite communications venture. Also in the cohort are Dognosis, which is working on non-invasive cancer detection using canine-based diagnostics, and Ethereal Exploration Guild, focused on building reusable orbital launch vehicles.
Launched in 2025, the Atoms X programme is designed to support startups operating in areas such as advanced manufacturing, artificial intelligence, and energy transition. Beyond capital, founders will gain access to mentorship and global networks aimed at accelerating long-term growth and scalability.
Startups Funding Update: Canvaloop Raises $1.5 Million to Scale Sustainable Textile Materials
In a separate development, biomaterials startup Canvaloop has raised $1.5 million in funding from Gujarat Venture Finance Limited (GVFL) and Rockstud Capital. The company, which previously featured on Shark Tank India, is focused on converting agricultural waste into textile-grade fibres.
The fresh capital will be used to expand production capacity, improve supply readiness, reduce delivery timelines, and scale its alternative fibre platform.
Founded in 2020 by Shreyans Kokra, Canvaloop transforms materials such as pineapple leaves, banana waste, and hemp into eco-friendly fibres. Its proprietary closed-loop process uses minimal water and chemicals, positioning it as a sustainable alternative within the textile supply chain.
Based in Surat, the startup works with natural feedstocks including hemp, flax, and crop residues to develop scalable material solutions. Going forward, it plans to invest in next-generation innovations such as regenerative fibres, aiming to support more resilient and sustainable textile ecosystems.
Thread Factory Raises Pre-Seed Round to Digitise Apparel Supply Chain
Fashion supply startup Thread Factory has raised Rs 1.5 crore in a pre-seed funding round led by Aviral Bhatnagar at AJVC.
The company plans to use the funds to strengthen its technology stack, expand its team, onboard more retailers and manufacturers, and build a data-driven supply infrastructure for India’s apparel ecosystem.
Founded by Vivek Solanki and Paras Jindal, Thread Factory operates a B2B platform connecting independent retailers with manufacturers across the country. The platform aims to streamline sourcing and design discovery while enabling better production planning through improved demand visibility.
The startup is tackling long-standing inefficiencies in India’s fashion supply chain, where sourcing often relies on unstructured channels such as phone calls and messaging platforms. This fragmented system frequently results in weak demand forecasting, inefficient procurement, and excess inventory for retailers.
