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The fund targets a total of 250 Cr (approximately $30 million) and aims to invest in startups across cutting-edge technology sectors.
We have secured initial contracts from numerous family offices, corporations, and ultra-high net worth individuals.
This comes days after Navam participated in agritech startup Fasal’s 100Cr Series A funding round led by TDK Ventures and British International Investment (BII).
Navam Capital, an early-stage venture capital firm focused on investing in frontier technology startups, has announced the first close of its first Alternative Investment Fund (AIF), Navam Venture Fund I, at INR 50 crore. (approximately $6 million).
The fund targets a total of 250 Cr (approximately $30 million) and aims to invest in startups across frontier technology sectors including aerospace, climate technology, electric mobility, agritech, artificial intelligence, etc., among others.
Moneycontrol reports that the company has secured initial commitments from a number of family offices, corporations and ultra-high-net-worth individuals.
The VC firm further said that the fund will focus more on intellectual property-rich startups with strong engineering orientation and technological differentiation.
Founded by Rajeev Mantri, co-founder of Vyome Therapeutics and director of GPSK Investment Group, Kolkata-based Navam Capital focuses on investing in frontier technology sectors.
Frontier or deep technologies include artificial intelligence, IoT, quantum computing, space, neuroscience, genomics, robotics/drones, blockchain, augmented and virtual reality, bioinformatics, energy, and self-driving cars .
Navam’s current portfolio includes Ather Energy, Agnikul Cosmos, Alyssum Therapeutics, Vyome Therapeutics, Aereo, and Ornagewood Labs.
“The successful launch milestone confirms the limited partner universe’s confidence in India’s formidable science and technology capabilities and reaffirms the trust that Navam has built as an early partner for ventures in frontier innovation. “It’s something we do,” Mantri said.
this will come in a few days Participating in Navam’s 100 Cr Series A Funding Agritech startup Fasal’s round led by TDK Ventures and British International Investment (BII).
Despite a funding winter, the deep tech sector has managed to grow in recent years.
According to Inc42’s ‘Indian Tech Startup Funding Report 2023’, deep tech startups raised $496 million in 2023, compared to $397 million the previous year.
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