Techcrafter International Private Limited

A clear-eyed look at where they stood.

Techcrafter International Private Limited is a deep-tech firm building patient-facing health monitoring technology. At seed stage, the company needed funding to move its product from where it stood to a stage it could put in front of patients and clinicians, and it needed that funding without giving up the equity or control that a straight venture round would have required at this point in its life.

Health monitoring hardware and software carry a longer runway to market than a typical software product. Validation, iteration on the device or algorithm, and the groundwork for eventual regulatory and clinical acceptance all cost money before there is meaningful revenue to show for it. That combination, patient-facing risk plus deep-tech development time, is exactly the profile the Startup India Seed Fund Scheme (SISFS) was built to support: it exists to fund proof of concept, prototype development, and early trials for DPIIT-recognised startups, released through a DPIIT-approved incubator rather than paid out in one lump sum.

The task for CapEasy was to turn a working technology into a proposal an incubator committee could evaluate on its own terms: a plan a reviewer could read once and understand what the money buys, in what order, and how the company proves it delivered.

CapEasy prepared the SISFS proposal end to end: product milestones, a utilisation plan, and multi-year financials. The milestones broke the remaining product work into stages a committee could track and sign off against, rather than a single undifferentiated "build the product" ask. The utilisation plan mapped each rupee of the requested funding to a specific stage of that work, so the incubator could see what was being funded, why, and how much.

The multi-year financials sat underneath both: they showed how the company’s cost base and revenue plan evolved once the seed funding had been deployed, which is what lets a reviewing committee judge whether the ask is proportionate to where the business actually is.

Alongside the proposal itself, CapEasy aligned the application to the scheme’s eligibility and permitted-activity rules. SISFS support is capped at specific categories of spend, proof of concept, prototype development, product trials, and it is only available to startups that meet DPIIT recognition and other scheme criteria. A strong product story does not help an application if the underlying spend or the applicant’s status falls outside what the scheme is designed to fund, so this alignment work sat in parallel with the drafting itself, not after it.

The outcome

The Startup India Seed Fund approved Techcrafter International’s application. A Seed Fund approval of this kind is the incubator committee’s sanction of the proposal; it is not the funds landing in the company’s account. Actual disbursement under SISFS is milestone-released through the DPIIT-approved incubator and follows the scheme’s own due-diligence and compliance checks at each stage, so the pace and eventual total of disbursement depend on how the company clears those milestones, not on the approval alone.

What made it work

The proposal held together because its three pieces reinforced each other: milestones the committee could check off, a utilisation plan tied to those same milestones, and financials that showed the funding’s effect over more than one year rather than a single snapshot. Matching the application to the scheme’s eligibility and permitted-activity rules before submission, rather than discovering a mismatch during review, kept the process to one pass instead of a back-and-forth that could have cost the company months it did not have.