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.