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A venture capital firm, Inflexor Ventures, has announced the closure of its second fund, which is valued at about USD 80.2 million. The tech fund will primarily invest in B2B/enterprise companies that use deeptech, technical IP, and innovation. The fund would invest in pre-Series A through Series B rounds, with initial investments ranging from $ 0.6 million to $ 2.6 million and follow-on rounds dependent on the performance of portfolio companies and their fundraising stage.
Inflexor Ventures, a VC firm, has announced that it has closed its second fund at around Rs. 600 crore (approx USD 80.2 million). It has exceeded the firm’s initial domestic goal capital of Rs 500 crore (approx. USD 66.8 million).
Inflexor Technology Fund was established in early 2020, with its first closure in August 2020 at Rs 230 crore (USD 30.7 million).
SBICap Ventures, SIDBI, Survam, and some of India’s leading family offices and UHNIs (Ultra-high net worth individuals), including the founders of several successful technological firms, are among the second fund’s investors.
“While the pandemic posed serious challenges globally, it has also acted as a catalyst for technology-based automation and digitization efforts around the globe, and we hope to invest in startups that will benefit from this trend that was underway even before the onset of the pandemic.”In a joint statement, Venkat Vallabhaneni and Jatin Desai, managing partners
The sector-agnostic technology fund will primarily invest in B2B/enterprise businesses that use deeptech, technological IP, and innovation to solve real-world domestic and worldwide market potential problems.
The fund would invest in pre-Series A through Series B rounds, with initial investments ranging from Rs 5 crore ( USD 0.6 million) to Rs 20 crore (USD 2.6 million) and follow-on rounds based on portfolio company performance and fundraising stage. Over the following three to four years, the fund plans to invest in about 25 companies.
Steradian Semiconductors, which develops AI-based surveillance systems for autonomous vehicles; PlayShifu, which makes AR-based edutech toys; Vitra.ai, an AI-ML based content translation platform; and Kale Logistics, an AI and blockchain-enabled logistics tech company, are among the four startups that Inflexor has invested in so far from its fund.
This is Mr. Venkat and Mr. Jatin’s second venture capital fund. PlayShifu; energy-efficient smart appliance manufacturer Atomberg; AI-based human emotion recognition platform Entropik; satellite propulsion systems manufacturer Bellatrix; and cybersecurity company Cloudsek were among the 12 startups invested in by their first fund, Parampara, which was launched in 2015.