Four Women-Led Startups Win Equity-Free Grants in Prosus Tech FoundHER Challenge
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Prosus has announced the winners of the inaugural Prosus Tech FoundHER Challenge in association with Encubay, awarding a total of USD 100,000 in equity-free grants to four women-led startups.
The initiative addresses a significant funding gap in India's startup ecosystem, where women-led ventures receive less than 5% of global venture capital.
Lightbulb, an Emotion AI platform that combines visual and conversational AI to analyse digital user engagement, received the top prize of USD 50,000. RxMen, a digital health platform focused on men's sexual wellness, was awarded USD 30,000. Varaha, which enables smallholder farmers to generate carbon credits, and Digital Paani, an IoT platform for wastewater treatment, shared third place and received USD 20,000 collectively.
The competition attracted 120 applications from startups across 22 cities, spanning 14 sectors including artificial intelligence, climate technology, healthcare, fintech, and agritech. Seven finalists presented to a jury of seasoned investors and industry leaders.
"We launched this challenge to spotlight and support women building game-changing solutions in tech. The quality of innovation we've seen is inspiring—and this is just the beginning," said Prajna Khanna, VP and Global Head of Sustainability at Prosus.
The judging panel included Apurva Dixit, Investor at Blume Ventures; Ronak Sandil, Director of Investments and Corporate Development at Amazon; Archana Jahagirdar, Founder and Managing Partner at Rukam Capital; Martin Tshopp, CEO of Prosus Ventures; and Priyanka Chopra, CFO of Prosus Ventures. Ashutosh Sharma, India Head of Investments and M&A at Prosus Ventures, and Prajna Khanna represented Prosus and Naspers. Former Union Minister Smriti Irani graced the event as Guest of Honor.
Deeksha Ahuja, Founder of Encubay, stated, "Women entrepreneurs are developing solutions to complex challenges using advanced technology. This partnership with Prosus creates infrastructure to make entrepreneurship truly gender-neutral." By addressing structural barriers early, organisers hope to increase both visibility and opportunity for women founders.
Beyond capital allocation, the FoundHER Challenge provides winners with ongoing mentorship and access to Encubay's startup accelerator network and Prosus portfolio company resources. All seven finalists will receive continued support to facilitate growth and scaling opportunities.
"Investing in women founders in India's tech sector drives innovation and economic growth. Women-led startups raised USD 930 million in 2024. Initiatives like the Prosus Tech FoundHER Challenge provide crucial financial support and mentorship to women entrepreneurs, fostering inclusion and empowerment. Vaia is proud to support Prosus on this initiative," said Shruthi Iyer, Founder of Vaia.
The initiative comes as data shows Indian women-led startups received less than 3% of total venture funding in 2023, highlighting persistent gender disparities in startup investment.
"It's about merit, not gender—these founders earned their place. Prosus has created a powerful platform to spotlight women-led innovation, and it's clear we need more of this," said Archana Jahagirdar, Founder and Managing Partner of Rukam Capital.
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