SenseAI Ventures Introduces Rs 200 Crore AI Fund for Startups, Bolstering the Future of Artificial Intelligence
SenseAI Ventures, a powerhouse in the AI domain, unveils the game-changing Rs 200 crore SenseAI Fund I, exclusively dedicated to seed and pre-Series A startups in the thriving AI sector. With a vision to invest in 18-20 AI-first startups and provide follow-on support to promising ventures, the fund underlines a commitment beyond capital. Renowned Co-founder Rahul Agarwalla emphasizes tailored support for each AI-first startup, acknowledging AI as a monumental value creation opportunity. The fund welcomes Raja Gopalakrishnan, a seasoned global tech executive, as General Partner, marking a strategic move towards fostering revolutionary AI startups. Explore the fund's visionary approach, key team additions, and its impact on India's soaring AI market projected to reach $14.72 billion by 2030.
SenseAI Ventures, a prominent player in the artificial intelligence (AI) domain, unveiled its Rs 200 crore SenseAI Fund I on Tuesday. This dedicated fund is earmarked for seed or pre-Series A startups, focusing on the burgeoning field of AI. The fund aims to invest in 18-20 AI-first startups and extend follow-on investments to promising ventures from its existing portfolio during subsequent funding rounds.
Rahul Agarwalla, Co-founder of SenseAI Ventures, emphasized the fund's commitment to supporting AI-first startups beyond just providing capital. Agarwalla stated, "Our approach is beyond capital; as experienced founders and operators, we offer bespoke support tailored to the unique needs of each AI-first startup. AI is the single largest value creation opportunity of our lifetimes."
In a strategic move, SenseAI Ventures welcomed Raja Gopalakrishnan, a seasoned global technology executive and former Executive Vice President of FIS, an American financial technology company, as the General Partner at the fund. Gopalakrishnan highlighted the fund's commitment to providing more than just funding, stating, "We offer a partnership that starts with product and technology, fostering a breed of AI startups that are both successful and revolutionary."
To enhance its strategic direction, the fund has established a board of advisors featuring industry experts and thought leaders. The advisory committee includes James Abraham, a seasoned industry veteran and former Senior Partner at BCG, and Utkarsh B, former Chief Architect at Flipkart.
SenseAI Ventures, actively investing in AI-focused startups since 2017, has achieved four successful exits and currently manages a portfolio of 12 startups spanning areas such as AI SaaS, AI B2C, and AI Tools. Notable ventures in its portfolio include Cureskin, Jovian, FloWorks, Skit, NewsBytes, among others. The fund has previously exited from Tripeur, Thirdwatch, Artivatic, and more.
The launch of SenseAI Fund I aligns with the robust growth projections for the AI market in India. The market size is anticipated to reach $4.11 billion in 2023 and is expected to exhibit a compound annual growth rate of 19.99 percent, reaching $14.72 billion by 2030.
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