CHENNAI: The Tamil Nadu Industrial Development Corporation (TIDCO) has approved an investment of Rs 25 crore each in space technology startup AgniKul Cosmos and electric mobility startup Raptee Energy under the TIDCO Startup Investment Policy 2025.
The approval letters were handed over by Industries Minister TRB Rajaa to Raptee Energy CEO and co-founder Dinesh Arjun and AgniKul Cosmos CEO and co-founder Srinath Ravichandran.
The investments mark the first deployments under the new policy and reflect the State government’s decision to directly support high-potential startups emerging from Tamil Nadu’s deep-tech and advanced manufacturing ecosystem.
Over the past year, TIDCO has restructured its investment mandate to establish a structured venture investment framework for promising startups, enabling support at crucial stages of growth and expansion.
TRB Rajaa stated that the State has been working since 2024 to redefine TIDCO’s role within the Department of Industries. He said the government’s ambition is to make Tamil Nadu a “Product Nation”, and that TIDCO has been rebranded as a “venture catalyst” to function as a strong investment arm.
Officials said TIDCO has historically partnered in more than 130 ventures over the decades, helping establish several industrial enterprises. Its repositioning as a venture catalyst is aimed at strengthening Tamil Nadu’s institutional capacity to support innovation-led industrial growth.