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ONGC mulls a new ₹200 crore fund to back energy and AI startups
Startups
Published on 11 May 2026
Advisors hired to judge startups, valuations, and exits
Oil and Natural Gas Corporation is considering a new ₹200 crore alternative investment fund to incubate startups working at the intersection of energy and AI/ML. ONGC has invited applications to appoint two advisors for 12 months, tasked with due diligence, valuation negotiations, portfolio monitoring, and exit strategy. The move follows earlier ONGC startup funding and aligns with growing public-sector innovation in clean tech and industrial AI.
- ONGC plans a ₹200 crore AIF for energy and AI/ML startups
- Two advisors may be hired for 12 months to oversee evaluations
- Advisors handle due diligence, valuations, monitoring, and exits
- It builds on ONGC’s earlier ₹100 crore startup fund
Read the full story at Inc42
This summarization was done by Beige for a story published on 
Inc42