Venture Intelligence (TSJ Media Pvt. Ltd.)
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pi Ventures raises Rs.22-Cr from Colruyt Group India
Early-stage venture fund pi Ventures has raised INR 22 crore from Belgium-based Colruyt Group's extended IT arm, Colruyt Group India, located in Hyderabad. The fundraising from Colruyt sets pi Ventures on track to close Fund II - launched in March 2021 - at between INR 675 crore and INR 750 crore. Accel, Nippon India Digital Innovation AIF (NIDIA), Bertelsmann India Investments, and entrepreneurs and family offices of Binny Bansal, Varun Alagh, Deep Kara, Hitesh Oberoi, leaders from IBM, Facebook, and Google are among the backers of the fund. The fund aims to use the capital to make investments in startups rooted in disruptive AI and deep technology, including blockchain, biotech, space tech, and material sciences, among others. pi Ventures has invested in seven startups via the fund so far, including Ottonomy.IO, Silence Labs, and immunitoAI. pi Ventures closed its Fund I at INR 225 crore in 2018.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.