growX ventures Floats INR 400 Cr Second Fund With Focus On Semicon, Defence Tech

The fund will target from seed stage to early-growth stage startups with focus on Series B investments

It plans to invest up to INR 10 Cr in seed rounds as a lead or co lead investor and INR 20 – 30 Cr in Series B funding rounds

The fund aims to support 20–24 startups across sectors like semiconductors, defence tech, spacetech, alternate materials, and advanced manufacturing, as well as areas such as fintech, healthtech, and supply chain/logistics

Deeptech-focused venture capital firm growX ventures has floated its second fund with a target corpus of INR 400 Cr ( around $ 47.12 Mn).

With this new fund, the VC firm aims to deepen its focus on deeptech and enterprisetech.

According to a statement, the first close of Fund II is expected by the end of this year.

The fund will target from seed stage to early-growth stage startups with focus on Series B investments. It plans to invest up to INR 10 Cr in seed rounds as a lead or co lead investor and INR 20 – 30 Cr in Series B funding rounds. 

The fund aims to support 20–24 startups across sectors like semiconductors, defence tech, spacetech, alternate materials, and advanced manufacturing, as well as areas such as fintech, healthtech, and supply chain/logistics.

Through Fund II, growX seeks to strengthen its commitment to high-impact innovation by supporting the next generation of disruptive B2B startups in India.

Ashish Taneja, founder and CEO at growX ventures, said, “With Fund II, we’re doubling down on our belief in India’s deeptech and B2B sectors. We’re confident that the next wave of unicorns, building for global markets, will emerge from this space.”

General partner and deeptech investment lead at growX ventures, Manish Gupta added, “With Fund II’s stage-diversified approach, we are there for every step of the founders’ journey, right from 0-to-1 sparks to 1-to-10 powerhouse growth. Beyond capital, we also bring strategic collaboration to help them unlock growth and claim market leadership in their respective domains.”

Founded in 2008, growX ventures is recognised for backing marquee startups like Pixxel, Bellatrix Aerospace, Progcap, Stashfin, CynLr, Locus, Aereo, Wiom, and RACE Energy.

It has invested in transformative technologies such as spacetech, semiconductors, robotics, genomics, AI and cybersecurity.

Since 2012, it has made 46 investments across emerging tech domains like Big Data, Drones, EVs, and Cybersecurity, focusing on high-impact, real-world solutions. 

growX ventures launched Fund I in 2018 to support founders in the broader B2B space, with a focus on leveraging emerging technologies to solve complex problems. Fully deployed, the fund has made 17 investments across diverse sectors, including fintech, spacetech, healthcare, and robotics.