India, March 5 -- Launched by a group of prominent Indian startup founders and investors in early March 2020 to help businesses and individuals tackle pandemic-induced challenges, the Action Covid-19 Team (ACT) now plans to raise INR 500 Cr philanthropic fund over the next two years to back solutions that generate social impact across education, healthcare, environment and women's participation in the workforce.

ACT had started off by setting up an INR 100 Cr fund to support innovators working on solutions to control the spread of Covid-19. With this, the startup community issued grants to 54 startups, which are solving challenges like shortage of medical equipment, helping in monitoring the situation, providing mass and affordable testi...