Venture capital firm Yali Capital has completed its first fund focused on deeptech startups, raising a total of INR 893 crore (around $103.2 million).
The fund was originally launched in July last year with a target of INR 810 crore. It aims to support early-stage startups working on advanced technologies like AI, robotics, and other deeptech innovations.
Yali Capital said in a press release that the fund will invest in startups working in areas like chip design, robotics, genomics, smart manufacturing, aerospace, and artificial intelligence (AI).
Yali Capital has raised money from well-known companies such as Infosys, Qualcomm Ventures, the DPIIT Fund of Funds for Startups, and Evolvence, among others.
Some well-known individual investors in the fund include TVS Capital founder Gopal Srinivasan, Rare Enterprises CEO Utpal Sheth, and JM Financial’s Managing Director Vishal Kampani.
Ganapathy Subramaniam and Mathew Cyriac started Yali Capital. It is a SEBI-approved investment fund (Category II AIF). At first, they aimed to raise about ₹500 crore, with an extra option to raise ₹310 crore more if needed.
“China is well ahead in the deeptech space and has overtaken America. India has all the potential, from services to deeptech, but certainly has much distance to cover,” said Ganapathy Subramaniam.
Yali Capital has already invested in five startups, including 4baseCare (genomics), Perceptyne Robots (robotics), and C2i Semiconductors (chip design). They plan to invest in a total of eight companies by the end of this year.
Read more- 129Knots and GLDB Launch Global Finance Platform to Bridge Funding Gap in Marine Fuel Industry
