Sense AI launches a USD 25 million fund to invest in Indian artificial intelligence start-ups over the next three-and-a-half years. The fund will invest in 18-20 AI-first startups.
Photograph: Kind courtesy Movie Ex Machina
New Delhi, Dec 5 (PTI) Investment firm Sense AI has launched a USD 25 million (about Rs 200 crore) fund which will primarily invest in Indian artificial intelligence start-ups over the next three-and-a-half years, the company said on Tuesday.
SenseAI Fund I plans to invest in 18-20 AI-first startups, focusing on early stage companies and may further make follow-on investments in its most promising portfolio companies, the company said.
"We (will) fully invest the fund over the first 3.5 years and exit by the end of 8 years," SenseAI Ventures, Co-Founder, Rahul Agarwalla said.
He said that the fund is primarily focused on Indians but it may do a few foreign domiciled startups with Indian founders.
"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 this new era of AI, SenseAI is not just a participant, but a catalyst for groundbreaking change," Agarwalla said.
The firm claims to have successfully achieved four exits and maintains a portfolio of 12 high-potential startups in areas such as AI software-as-a-service, AI B2C, and AI Tools.
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