Hard problems. Real solutions.
We back the science that compounds for decades - energy, biotech, hard-tech, and AI. The hardest problems need support beyond capital - we work closely to define the problems and figure out long-term science-based solutions.
Our thesis is rooted in two decades of backing R&D-led startups in India.
Across IIMA Ventures, Infuse, Bharat Fund, and partner programmes. Each circle below is a company we have backed at seed; colour marks the thematic sector.
Our historical perspective shapes our vision for the future of these sectors.
We look forward to building category leaders together with the next generation of game-changing entrepreneurs.
Powering and cooling the next India.
Storage, grid, generation, materials, and capture. The companies rewriting how the country runs - and what it costs to run it.
Our Energy and Climate Thesis→Euler Motors
Commercial EVs for last-mile logistics. $200M+ raised, 30+ cities.
Fourth Partner
Distributed solar for C&I customers. $500M+ raised, 1,000+ clients.
Proklean
Probiotic green chemistry replacing harsh industrial chemicals.
Biology, as an engineering discipline.
Affordable diagnostics, indigenous med-devices, and translational biology. India has the talent, the patients, the clinics - and now, the capital.
Our Biotech and Health Thesis→Forus Health
Affordable retinal imaging. Deployed across 20+ countries.
Biosense
Point-of-care anaemia diagnostics, medical devices.
Nayam
Indigenous light-adjusted intra-ocular lens.
Hard-ware devices, robotics, and the physical economy.
Spacetech, robotics, semiconductors, materials, defence. Hard tech with compounding margins, built in India.
Our Hard-tech Thesis→Agnikul Cosmos
3D-printed orbital launch vehicles. Sub-orbital launch complete.
Unbox Robotics
Software-defined autonomous warehouse robotics.
ideaForge
Indigenous UAVs for surveillance, mapping, and defence.
Architectures and applications, ahead of consensus.
Applied AI for the country's services economy, its industries, and its institutions. The architectures, products, and infrastructure of the next decade.
Our AI Thesis→Detect Tech
AI + sensor asset-integrity platform.
Kaleidofin
AI credit scoring for low-income, informal-sector customers.
5C Network
AI-augmented tele-radiology network.
There has never been a better time
to translate Indian research into companies.
Compute is cheap, biology is programmable, and India's research institutions are producing more translatable work than the country has capital and operators to absorb. We are organising both, at the source.
Stage · Pre-seed and Seed · Series-B
Sectors · Energy · Biotech · Hard-tech · AI