SenseAI Ventures, an artificial intelligence-focused investment firm based in Gurugram, India, has recently announced the launch of its maiden venture capital fund, SenseAI Fund I. The fund, with a corpus of Rs 200 crore (approximately $25 million), is specifically designed to support the AI startup ecosystem in India. The primary focus of the fund will be on investing in 18-20 AI-first startups, targeting those in the seed and pre-Series A stages. The fund also plans to provide follow-on investments to support its portfolio companies.
Rahul Agarwalla, Co-founder of SenseAI Ventures, emphasized the company’s approach, which goes beyond mere capital investment. He noted that the firm offers bespoke support tailored to the unique needs of each AI-first startup, acknowledging the challenges and transformative potential of these ventures.
The firm has a strong track record in the AI investment space. Since its inception in 2017, SenseAI Ventures has made four exits and holds a portfolio of 12 startups in areas such as AI Software as a Service (SaaS), AI Business to Consumer (B2C), and AI Tools. Notably, nearly all of its portfolio companies have secured additional investments, with CureSkin and Skit.ai reaching Series B funding.
In a significant move to strengthen its leadership team, SenseAI Ventures has onboarded Raja Gopalakrishnan as a general partner. Gopalakrishnan is a seasoned global executive with over 30 years of experience in finance and technology roles. He is known for his success in building businesses across diverse geographies and has led three successful startups in the fields of data, Business Process Outsourcing (BPO), and money movement. His extensive experience is expected to be a significant asset to SenseAI’s growth plans.
With the Indian AI market projected to reach significant growth, SenseAI’s new fund is well-positioned to capitalize on this opportunity. The fund has also formed a board of advisors, comprising industry veterans and thought leaders, to provide strategic guidance, aligning with SenseAI’s goal to solidify its role in India’s burgeoning AI landscape and support innovative solutions in the AI sector.