Early Stage VC Inflexor Ventures Raises Rs. 600 Crore Fund
- ByStartupStory | July 1, 2021
Early stage VC Inflexor ventures raises Rs. 600 crore fund. It is a tech focussed venture capital. It has raised the funding, driven by oversubscription from homegrown institutional investors.There was an initial target of Rs. 500 crore but the fund raising has exceeded that, and this venture also 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. Inflexor Technology Fund started out in 2020, and it 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 has also shown interest in investing 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.
It was in August last year that the company raised its first funding of Rs 230 towards its first close. The fund intends to invest in around 25 startups over the next 3-4 year period. It was founded in 2019 by Venkat Vallabhaneni and Jatin Desai, and since then Inflexor Ventures has 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. The fund is also working on 2-3 other late-stage deals, which are likely to be announced soon. “We look to invest in seven to eight companies each year,” said Vallabhaneni in a recent statement.
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