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ACT Grants raises funds from Gates, Dell foundations to fight covid-19

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MUMBAI: ACT Grants, a not-for-profit initiative started by venture capital (VC) firms and startup founders to fight covid-19, has received fresh funding from the Bill and Melinda Gates, Michael and Susan Dell, and Wadhwani foundations, a senior spokesperson at ACT said in an interview on Tuesday.

ACT offers grants, ranging between ₹1 lakh and ₹10 crore, to startups and initiatives that use technology to create large-scale impact in the detection, prevention and eradication of covid-19. “The commitment from these three foundations is about 20% of the total corpus raised by ACT Grants," said Mohit Bhatnagar, the spokesperson for ACT Grants.

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