The fund has backed startups such as Agnikul, The ePlane Company, CynLr and Qnu Labs
The fund has backed startups such as Agnikul, The ePlane Company, CynLr and Qnu Labs
Speciale Invest, a seed-stage VC investing in deep science and business technologies, has announced the final closure of its second £2.86 billion fund.
The second fund was twice as oversubscribed as the amount announced at fund launch, which was ₹140 crore.
In April 2021, the company had announced that its second fund would be a corpus of around 100 crore, but this was oversubscribed. The fund, which has backed startups such as Agnikul, The ePlane Company, CynLr, Qnu Labs, GalaxEye Space, Wingman, StreamAlive, Airboxr, Trainn, Uravu Labs, among others, will seek to invest in more than 20 early-stage startups -ups through pre-seed and seed rounds with average check sizes ranging from $100,000 to $1 million.
Speciale focuses on investing in startups developing enterprise software products such as SAAS, developer tools and cutting-edge technologies such as climate, advanced materials, space technology, robotics, photonics and alternative energy to name a few in India and some parts of Asia. It raised its first fund in 2018 and has so far invested in 18 startups, with an average deal size of under $0.5 million.
Vishesh Rajaram, Managing Partner at Speciale Invest, said: “The oversubscribed closing of our second fund reaffirms the opportunities for DeepTech in India and our commitment to working with entrepreneurs to solve tough technology problems for the world from India.”
“We will continue to work with early-stage founders who have unique and deep insights into their vision and have products and technologies that will make the world easier and better,” said Arjun Rao, General Partner at Speciale Invest.”
