IVCA consortium commits Rs.500-Cr to fund 31 India-built AI startups
A consortium of 16 venture capital (VC) firms, which are part of the Indian Venture and Alternate Capital Association (IVCA), has committed INR 500 crore to invest in 31 homegrown artificial intelligence (AI) startups.The Ministry of Electronics and Information Technology (MeitY) had organised an ‘Impact AI PitchFest’ which featured presentations from 31 AI startups building deployable solutions across enterprise and public-impact sectors. As part of the programme, IVCA brought together 16 VC investors to put money in these companies. The investors included 3One4 Capital, 888VC, Accel Ventures, Ankur Capital, Antler, Boundless Ventures, Capital A, Chiratae Ventures, Dallas VC, Inflection Point Ventures, Mount Growth Fund (Kavaach), PeakXV Partners, Piper Serica, Prosus, Seafund and SenseAI.
Want to receive such news items in your inbox? Click Here to sign up for a trial.