Materials discovery co. Novyte raises Rs.4.15 Cr led by Theia Ventures

Mumbai-based Novyte , an AI-based materials discovery company, has raised INR 4.15 crore in a pre-seed investment round, led by Theia Ventures, with participation from Sandesh Paturi (Venwiz) and Niharika Jain (Chemvera).Novyte uses simulations to design, validate, and reverse-engineer materials, aiming to reduce R&D timelines and early-stage physical testing. The fresh capital will be used to develop its AI platform and to run early pilot projects focused on collaborative materials discovery.Novyte is incubated at ICT-NICE, the innovation hub of the Institute of Chemical Technology, Mumbai. Initially, Novyte will work with manufacturers of specialty chemicals, polymers, paints, adhesives, and coatings seeking alternative materials with improved properties.