GrowX Ventures launches its Fund II, targets to Raise 400 cr

New Delhi-based venture capital firm growX Ventures, focused on B2B and DeepTech, has launched Fund II with a target of ₹400 crore ($47.1 million).

Purpose of fund raising

The firm plans to support both early-stage and early-growth-stage companies such as semiconductors, defence-tech, spacetech, alternate materials and advanced manufacturing, fintech, healthtech, and supply chain/logistics over the next two to three years.

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The first investment will be up to ₹10 crore in seed rounds and ₹20-30 crore in Series B rounds.

Ashish Taneja, Founder and CEO at growX ventures said, “The firm missed out on fully backing its winners, largely because it maintained a seed-stage mindset. Series B is truly the inflection point for B2B deeptech companies. This is where you can say there's product-market fit. The company has reached a stage where the technology and team are in place, there are signs of early customer adoption, and potential use cases are emerging from what has been built. This is where compounding happens,” 

He also emphasized the importance of staying invested and building a portfolio of new ventures at that stage.

About GrowX Ventures 

Founded in 2008, New Delhi-based GrowX Ventures has invested in companies working in space technology, semiconductors, robotics, genomics, AI, and cybersecurity. In 2006, GrowX launched its first fund with $25 million. Its previous investments include Pixxel, Locus, ProgCap, Bellatrix Aerospace, Wiom, and others.

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