8X Ventures, a deeptech-focused venture capital firm, has achieved its first close of INR 200 crore for its new DeepTech Fund, surpassing initial commitments which totaled more than INR 60 crore.
Founded in 2021 by Gupta, Esha Arya, Ajay Singh Rajput, and Vinod Agarwal, 8X Ventures aims to support 18-20 early-stage deeptech startups. Each startup will receive an initial investment ranging from INR 2-5 crore, with plans to potentially invest up to INR 20 crore in 8-10 selected startups.
The Mumbai-based firm focuses on investing in startups that create sustainable value through innovative deeptech solutions. The fund’s strategy aligns with fostering groundbreaking technologies that address significant challenges across various industries.
“This milestone marks a significant step towards our goal of nurturing deeptech innovation in India,” commented the founders of 8X Ventures. “With this fund, we are poised to empower promising startups by providing both financial support and strategic guidance.”
The DeepTech Fund‘s investments will prioritize sectors such as artificial intelligence, machine learning, robotics, biotechnology, and other cutting-edge technologies poised to transform global markets.
Moving forward, 8X Ventures plans to continue attracting capital to support deeptech entrepreneurs and drive impactful technological advancements in the Indian startup ecosystem.
