ETtechMumbai: Early-stage tech-focused venture capital fund Inflexor Ventures has raised Rs 600 crore towards the final close of its new fund, driven by oversubscription from homegrown institutional investors.
The total fundraise has exceeded its initial target of Rs 500 crore and includes a green shoe option of Rs 100 crore, senior fund officials said.
Inflexor joins a bevy of rupee funds that have raised capital from domestic investors in the recent past. SBICap Ventures, SIDBI (from Fund of Funds for Startups), Suman Kant Munjal’s family office Suryam and other family offices and ultra HNIs have also invested in the new fund.
Launched in early 2020, Inflexor Technology Fund takes small bets on startups leveraging deeptech, technology IP, innovation in areas like AI-ML, Industry 4.0, AR, VR, Big Data, Robotics, Cybersecurity, Blockchain and SpaceTech among others, the fund said.
It will look to invest in pre-Series A to Series B rounds with initial cheques ranging from Rs 5 crore to Rs 20 crore. It will also double down investments in winner portfolio companies.
The fund raised Rs 230 crore towards its first close in August last year.
The fund intends to invest in around 25 startups over the next 3-4 year period.
Founded in 2019 by Venkat Vallabhaneni and Jatin Desai, Inflexor Ventures has so far invested in four startups from its fund:
The total fundraise has exceeded its initial target of Rs 500 crore and includes a green shoe option of Rs 100 crore, senior fund officials said.
Inflexor joins a bevy of rupee funds that have raised capital from domestic investors in the recent past. SBICap Ventures, SIDBI (from Fund of Funds for Startups), Suman Kant Munjal’s family office Suryam and other family offices and ultra HNIs have also invested in the new fund.
Launched in early 2020, Inflexor Technology Fund takes small bets on startups leveraging deeptech, technology IP, innovation in areas like AI-ML, Industry 4.0, AR, VR, Big Data, Robotics, Cybersecurity, Blockchain and SpaceTech among others, the fund said.
It will look to invest in pre-Series A to Series B rounds with initial cheques ranging from Rs 5 crore to Rs 20 crore. It will also double down investments in winner portfolio companies.
The fund raised Rs 230 crore towards its first close in August last year.
The fund intends to invest in around 25 startups over the next 3-4 year period.
Founded in 2019 by Venkat Vallabhaneni and Jatin Desai, Inflexor Ventures has so far invested in four startups from its fund:
- Steradian, which develops AI-based surveillance systems for autonomous vehicles
- PlayShifu, which makes augmented reality-based education technology toys
- Vitra.ai, an AI-ML-based content translation platform
- Kale Logistics, an AI- and blockchain-enabled logistics tech company