NEW DELHI, April 5 -- ONGC's startup fund has seen a 450 per cent growth in valuation over five years, according to a release by the Ministry of Petroleum and Natural Gas (MoPNG). As per the ministry, WellRx, the first oilfield startup under the Startup India Policy, is expanding its energy solutions to over 120 countries. IndianOil has funded 42 startups under its IndS_UP initiative, generating 86 intellectual properties and 635 jobs. Oil India supports deeptech ventures such as Caliche Private Limited, which specialises in biochemical sand influx control for oil wells, and Carbonation India Private Limited, which develops sustainable waste management solutions for the oil and gas sector, the ministry said.

The Ministry of Petroleum and...