The grant aims to support ideas that are capital efficient, scalable and can be leveraged to fight the spread of the pandemic. The Action Covid Team (ACT) Grants has already raised Rs 70 Cr. from its target corpus, has funded 2 projects, and has over 45 volunteers. The initiative has seen the participation and support from leading start-up investors, fund managers from top VC firms, and prominent start-up CEO’s. Amongst the backers are Sequoia India, Accel, SoftBank, Coatue, Tiger Global, B Capital as well as leading start-up founders and entrepreneurs, along with industry bodies TiE, IVCA, Nudge foundation.