ANIVenture capital firm Bat VC has announced its entry into India, unveiling plans to invest up to $100 million through its second fund, which will target early-stage deeptech and artificial intelligence (AI) startups.
The fund, set up by former Twitter India head Manish Maheshwari, ex-Yahoo executive Aditya Mishra and Ravi Metta, will focus on sectors such as fintech and business-to-business (B2B) software-as-a-service (SaaS).
The three are general partners at Bat VC, but Maheshwari will lead the VC firm’s India operations. "My move to Bengaluru underscores our conviction in India's potential to lead the next wave of AI-driven global growth," said Maheshwari.
"Our technical depth enables us to identify high-impact AI startups early and guide them through global scale-up," said Metta, in a release from the company.
The fund aims to tap India's 'golden era' of AI, citing data that the sector is growing 32% annually in the country and projected to reach $23 billion by 2027. It also said US-India cross-border AI investments had risen 180% to $4.7 billion in 2023, and the combination of talent, capital, and market access makes India an attractive investment landscape.
Bat VC’s key investments from its first fund include Wand AI, StockGro, Nickelytics (acquired), Accern (acquired) and Uptiq AI.
The fund, set up by former Twitter India head Manish Maheshwari, ex-Yahoo executive Aditya Mishra and Ravi Metta, will focus on sectors such as fintech and business-to-business (B2B) software-as-a-service (SaaS).
The three are general partners at Bat VC, but Maheshwari will lead the VC firm’s India operations. "My move to Bengaluru underscores our conviction in India's potential to lead the next wave of AI-driven global growth," said Maheshwari.
"Our technical depth enables us to identify high-impact AI startups early and guide them through global scale-up," said Metta, in a release from the company.
The fund aims to tap India's 'golden era' of AI, citing data that the sector is growing 32% annually in the country and projected to reach $23 billion by 2027. It also said US-India cross-border AI investments had risen 180% to $4.7 billion in 2023, and the combination of talent, capital, and market access makes India an attractive investment landscape.
Bat VC’s key investments from its first fund include Wand AI, StockGro, Nickelytics (acquired), Accern (acquired) and Uptiq AI.
Discover the stories of your interest
ETPrime Membership
