IIT Kanpur Startups Receive $3.5 Million CSR from Foxhog Ventures in Aerospace, Defence, and Agritech
IIT Kanpur has secured $3.5 million in CSR funding from Foxhog Ventures to accelerate the growth of startups in key technology sectors such as aerospace, defence, and agritech.
IIT Kanpur Startups Receive $3.5 Million CSR
IIT Kanpur has received a $3.5 million (INR 25 crore) Corporate Social Responsibility (CSR) investment from US-based venture capital firm Foxhog Ventures Corp to support innovative startups incubated at the institute through its Startup Incubation and Innovation Centre (SIIC). Alongside the CSR investment, Foxhog Ventures CEO Tarun Poddar will personally manage a dedicated CEO Fund that provides research and development grants to newly incubated startups aligned with the company’s social impact mission.
The CSR funds will be allocated to startups focused on defence and aerospace, agritech, and sustainability. In addition to the CSR and CEO Fund, Foxhog Ventures plans to pursue further capital infusion through equity, debt, and convertible notes as part of a broader commercial investment strategy.
Tarun Poddar visited IIT Kanpur to engage with student entrepreneurs and early-stage ventures, pledging strategic support to strengthen India’s innovation ecosystem. During the visit, Prof. Deepu Philip, Professor-in-Charge (Incubation & Innovation) at SIIC IIT Kanpur, delivered an insightful presentation outlining SIIC’s vision and key milestones. Piyush Mishra, COO and CFO of SIIC, also participated in the discussions.
Speaking on the occasion, Poddar said, "Innovation with purpose has the power to change lives and nations. We see immense potential in India's youth-led startup ecosystem, especially in critical sectors like defense, aerospace, agritech, and sustainability. Our CSR initiative at IIT Kanpur is a step towards nurturing this talent and creating meaningful social impact. I am also proud to announce that our CEO Fund, will also offer R&D grants to mission-aligned ventures."
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."
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As of now, the institute has released the phase-I placement statistics. A total of 913 students were placed and 989 job offers were distributed among them. Check the complete insights of IIT Kanpur placements 2024 from the table below:
Particulars |
Placement Statistics (2024) Phase I |
|---|---|
Total job offers |
989 |
Average package |
INR 26.27 LPA |
Students placed |
913 |
International offers |
22 |
The overall highest package has not been disclosed for the 2024 drive. The IIT Kanpur highest package offered to the MBA batch 2024 was INR 24 LPA. Earlier, the highest package offered during 2023 placements was the same, i.e. INR 24 LPA. Take a look at the table below to know the IIT Kanpur highest package trends for MBA:
Course |
Highest Package (2022) |
Highest Package (2023) |
Highest Package (2024) |
|---|---|---|---|
MBA |
INR 22 LPA |
INR 24 LPA |
INR 24 LPA |
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The institute has not released the placement report incorporating the overall data for the 2024 drive. However, the media reports have disclosed the 2024 placement statistics till Phase I. As per the reports, the average package for the 2024 drive stood at INR 26.27 LPA. The number of international offers was 22 in 2024, which was comparatively lesser than the 2023 phase I placements. The IIT Kanpur placement comparison for the last two years is depicted below:
Particulars
Placement Statistics (2023) Phase I
Placement Statistics (2024) Phase I
Highest package
INR 1.90 crore per annum (domestic)
N/A
Total job offers
1,200
989
Average package
N/A
INR 26.27 LPA
Students placed
1,128
913
International offers
74
22
PPOs
208
N/A
Total recruiters
250+
N/A