Ellenox

Know which part of Ellenox you want

Ellenox runs two very different things. The venture studio co-builds companies with founders and joins the founding team in exchange for equity. Octopus Builds, its product lab, is a paid service that builds products for corporates and established businesses. Decide which one fits your situation before you reach out, because the two have separate starting points.

How to approach the studio

There is no fixed cohort or deadline. Founders approach the studio through its contact and application form, which asks you to say what stage you are at — idea or prototype, building an MVP, after an MVP but pre-revenue, post-revenue, or scaling. Be ready to describe your stage honestly, since that is how the form routes you.

What to expect

Ellenox takes equity and works as part of your founding team, so this is a long-term partnership rather than a short programme you graduate from. Treat the first conversation as the start of deciding whether to build together, not as an application to a batch.

Ellenox is a venture studio and product lab run by Ellenox Pvt Ltd. It describes itself as building companies and products: co-building startups with founders, and helping growing businesses turn ideas into products, brands and AI-enabled systems. Its own pages give two different locations for the company, so where it is registered is not clear from the site (see Locations below).

What it does

Ellenox works with founders as a venture studio rather than as a fixed-term accelerator. It says plainly that it is not an accelerator and not an agency, and that it becomes part of a founder's founding team. It partners with early-stage startups and takes equity in return, working alongside them as co-founders, builders and advisers.

Alongside the studio, Ellenox runs a product-lab arm called Octopus Builds, which works with corporates, small and medium businesses and enterprises to build products — covering AI-powered tools, full product development and brand work. That arm is a client service engaged through a discovery call, not a route for founders seeking an equity partnership, so a founder approaching Ellenox should be clear which of the two they want.

Who it is for

The studio is aimed at early-stage startup founders. Its intake form sorts founders by stage, from an idea or prototype through building an MVP, pre-revenue after an MVP, post-revenue and scaling, so founders at a range of stages can approach it. Ellenox says it has partnered with companies across three continents, so it is not limited to India-based founders. There is no stated formal eligibility list and no campus or community requirement; founders are taken on through the studio's contact and application process.

Track record

Ellenox's own figures, shown on its site, say it has partnered with 29 companies across three continents since 2018, with a team of more than 14 people. These are the studio's self-reported counts rather than independently checked numbers.

Who runs it

Ellenox was co-founded by Prashanth Duggishetti, who is listed as Co-founder and CEO, and Ankur Bagchi, listed as Co-founder and COO.

Locations

Ellenox's pages do not agree on where the company is based. Its structured site data gives a Bengaluru, Karnataka address in Jayanagar, while its privacy policy names the legal entity as being in Hyderabad, Telangana. Both appear on the company's own site and the two cannot be reconciled from the public pages, so a founder should confirm the current office directly.