GrowX Ventures, a venture capital firm focused on B2B and DeepTech startups, has announced the launch of its second fund (Fund II) with a target corpus of Rs 400 crore (approximately $47.1 million). The firm aims to further its commitment to supporting high-impact innovation by targeting early-stage (Seed) and early-growth stage (Series B) investments in a diverse range of sectors.
Fund II will focus on writing cheques of up to Rs 10 crore for seed-stage companies and Rs 20-30 crore for Series B rounds. With plans to back 20–24 startups, GrowX Ventures will concentrate on industries including semiconductors, defense tech, space tech, alternate materials, advanced manufacturing, fintech, health tech, and supply chain/logistics. The fund is set to accelerate the growth of companies in these high-potential sectors that are poised to disrupt traditional industries and drive global innovation.
Founded in 2008, GrowX Ventures has already made significant investments in companies spanning cutting-edge technologies, such as space technology, semiconductors, robotics, genomics, AI, and cybersecurity. The firm’s previous investments have helped foster the development of industry leaders like Pixxel, Locus, Progcap, Aereo, Bellatrix Aerospace, Wiom, CynLr, Stashfin, and RACE Energy.
With Fund II, GrowX plans to take its support for B2B startups to the next level. Beyond financial backing, GrowX will work closely with portfolio companies, providing hands-on guidance to help accelerate revenue growth, achieve scalability, and create sustainable business models.
The first close of Fund II is expected by the end of 2024, and the firm is on track to expand its impact in the Indian startup ecosystem by backing the next generation of disruptive entrepreneurs.
