India, May 8 -- The Indian Institute of Technology Madras (IIT Madras) has raised INR 513 Cr from alumni, industry players, and individual donors during the financial year 2023-24 (FY24).

The funds received will be used for technology research and development, deployment of existing technology across various parts of the country to address societal needs, supporting deserving students with scholarships, and meeting the growing infrastructural needs of the institute.

This marks a 135% increase from the amount raised in the previous financial year of 2022-23 when INR 218 Cr was raised for technology research.

IIT Madras received contributions from 48 donors, each giving over INR 1 Cr, comprising 16 alumni donors and 32 corporate partners...