Ark Robot wins QPrize; gets $350K funding from Qualcomm

MUMBAI: Warehouse automation startup Ark Robot has won a prize money of $350,000 (about Rs 2 crore) in equity funding, as the winner of QPrize Make in India contest.

Department of Industrial Policy and Promotion ( DIPP) and chip maker Qualcomm Inc announced the winner today during the Make in India Week here.

"This is a part of Qualcomm $150 million committed investments in India when Prime Minister Narendra Modi visited Silicon Valley last year," Qualcomm Ventures vice-president Karthee Madasamy said.

"Through the India fund, we have so far invested in three companies and the winner of QPrize would be the fourth," he added.

The prize was given by Qualcomm Venture, an arm of Qualcomm Inc.

"India is number three in startups and we wish to make it number one in line with the Prime Minister's vision," DIPP secretary Amitabh Kant said.

Qprize Make in India was judged by a panel including Kant, Qualcomm India president Sunil Lalvani, Infosys co-founder Kris Gopalakrishnan and got participation from nearly 500 startups.