8X Ventures Announces First Close of INR 200 Cr DeepTech Fund Over the next three years, the company plans to invest in 18–20 early-stage Indian deeptech startups, with initial investments ranging from INR 2–5 crore each and total investments of up to INR 20 crore in 8–10 startups.
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8X Ventures, a company that invests in early-stage startups, has announced the first closing of its new INR 200 crore deeptech fund with an option to increase by another INR 100 crore. So far, the company has received commitments of over INR 60 crore and expects more investments soon.
Over the next three years, the company plans to invest in 18–20 early-stage Indian deeptech startups, with initial investments ranging from INR 2–5 crore each and total investments of up to INR 20 crore in 8–10 startups.
Chirag Gupta, Managing Partner at 8X Ventures, emphasized the potential of Indian DeepTech, "Companies in this sector could address major global issues and create significant value for shareholders. The fund will focus on areas like water sanitation, Industry 4.0, advanced computing, biotech, and B2B Enterprise SaaS. Gupta believes that Indian startups in these areas will lead the world in the coming decades. They aim to invest in companies that pioneer new technologies and have clear strategies for commercial success."
Since 2022, 8X Ventures' first global fund has seen a return of 2.1 times the initial investment (with a 40+% annual return rate). The company has invested in various significant companies, including Solinas Integrity (a robotics and sanitation innovator), D-Nome (a molecular diagnostics pioneer), Lightspeed Photonics (a next-gen computing leader), XYMA Analytics (an industrial IoT enterprise), Zenpulsar (a social media listening AI), and Pantherun Technologies (a real-time AI encryption startup).
8X Ventures' investment strategy involves finding and nurturing advanced technologies from top Indian research institutions. This approach has led the company to secure successful investments from prominent companies.
Since its inception in 2021, 8X Ventures has firmly established itself in the Indian deep-tech ecosystem. Apart from its stronghold in Chennai, the company also actively seeks innovations across India. The fund prioritizes startups with developed modern technologies, sustainable competitive advantages, and ready markets.
The company also leverages its international presence, with close relationships in the Middle East and Europe, to help portfolio companies expand globally and attract regional investors for larger follow-on rounds.
