Inflexor Ventures Announces Final Close at Over 600 Crore
BENGALURU: Venture capital company in the start-up phase, Inflexor Ventures has announced that it has finalized the final closing of its second fund at more than ₹600 crore, exceeding its initial national target corpus of ₹500 crores.
Inflexor Technology Fund was initially launched in early 2020 and had marked its first close at ₹230 crore in August 2020.
SBICap Ventures and Small Industries Development Bank of India (Sidbi) via a fund of funds for startups, and Sumankant Munjal Family Office have invested in Inflexor’s tech fund, which also saw the participation of other family leaders and founders of renowned startups.
With the final close, Inflexor plans to invest primarily in business-to-business (B2B) enterprise startups that leverage deep technology capabilities and solve problems in domestic and global markets.
It will focus on the fintech, healthcare, consumer tech, agritech sectors and will also invest in futuristic sectors like space technology.
The fund is expected to participate in rounds starting pre-series A through series B with initial checks ranging from ₹5 crores to ₹20 crore in these startups. Along with the final close, Inflexor is also expected to perform follow-up rounds in its portfolio, depending on their performance.
“We started fundraising in the first wave of covid-19 last year and finalized the close in the second wave. Despite the difficult conditions, we are happy to have exceeded our target for the domestic fund. While the pandemic has posed serious challenges globally, it has also acted as a catalyst for technology-based automation and digitization efforts around the world, and we hope to invest in startups that will benefit from this trend, ”said Venkat Vallabhaneni, Managing Partner, Inflexor Aventures.
Through the technology fund, Inflexor now intends to support around 25 startups over the next three to four years. He is currently working on 2-3 late stage transactions.
Inflexor Technology Fund has so far invested in four startups in its fund, including maker of artificial intelligence-based surveillance systems, Steradian Semiconductors; edutech toy designer, PlayShifu; content translation platform, Vitra.ai and most recently in a blockchain-based logistics company, Kale Logistics.
Before Inflexor, the co-founders Vallabhaneni and Jatin Desai launched their first fund, Parampara Capital in 2015, through which they supported 12 startups including the maker of smart devices, Atomberg Technologies; space technology startup, Bellatrix; cybersecurity startup, Cloudsek among others.
In March, the venture capital firm also announced the launch of a DeepTech scholarship program, in partnership with 100X.VC, to mentor and provide Series A funding to Indian startups.
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