Indian VC Fund pi Ventures Raises INR 1 Billion From SIDBI and Other Investors

It is reported that the Indian early-stage venture capital fund pi Ventures has announced that it has obtained an investment commitment of 1 billion Indian rupees (about 12 million US dollars) from the start-up fund (FFS) managed by the Small Industrial Development Bank of India (SIDBI), and has also received support from BII, Nippon India Digital Innovation AIF (NIDIA), Accel, Colruyt, Binny Bansal, Varun Alagh and other investors. Pi Ventures announced that it will use this funds to invest in cross industry deep technology startups such as artificial intelligence and blockchain. Currently, its investment portfolio in the encryption and blockchain industries includes Web3 cybersecurity company Silence Laboratories, industrial technology company SwitchOn, and blockchain B2B currency supply chain management platform OweMe. （technode.global）

India’s early venture capital fund pi Ventures has received an investment commitment of 1 billion rupees, focusing on innovative areas such as blockchain

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Introduction

The Indian venture capital fund pi Ventures has recently announced that it has secured an investment commitment of INR 1 billion (approximately $12 million) from the Small Industrial Development Bank of India (SIDBI) managed start-up fund (FFS), along with other investors such as BII, Nippon India Digital Innovation AIF (NIDIA), Accel, Colruyt, Binny Bansal, Varun Alagh, and more. The company has further stated that it will utilize these funds to invest in cross-industry deep technology start-ups, primarily focusing on areas such as artificial intelligence and blockchain. At present, pi Ventures has invested in various technological start-ups, including Web3 Cybersecurity Company Silence Laboratories, industrial technology provider SwitchOn, and blockchain B2B currency supply chain management platform OweMe.

Overview of pi Ventures

pi Ventures is a technology-focused venture fund company that invests in the deep technology space. The company is driven by its ambition to discover and invest in exceptional entrepreneurs who leverage technology to solve complex problems. pi Ventures primarily invests in early-stage companies that operate in the domain of artificial intelligence, machine learning, and internet of things. The company’s founders, Manish Singhal and Umakant Soni, are experienced entrepreneurs, who have a successful background in investing and advising start-ups. pi Ventures uses a data-driven approach to identify and invest in companies that have the potential to disrupt industries.

SIDBI and FFS

The Small Industrial Development Bank of India (SIDBI) is a financial institution providing support to small and medium enterprises (SMEs) in India. SIDBI is committed to promoting and financing start-ups, providing funding assistance to various sectors, such as manufacturing, service, and agriculture. One of SIDBI’s initiatives is the management of the start-up fund (FFS). The FSS was created for investing in start-ups with innovative business ideas, innovative technology solutions, and high growth potential. Apart from providing financial assistance, SIDBI also offers various non-financial services such as management consultancy, technical and marketing assistance.

Investments in Deep Technology Start-ups

The investment commitment from SIDBI and other investors will help pi Ventures invest in deep technology start-ups in India. Deep technology refers to the application of advanced technology concepts to solve real-world problems. With this funding, pi Ventures plans to invest in AI and blockchain-based start-ups. These start-ups often require deep expertise and specialized skills to develop, and therefore, might not be suitable for traditional venture capital funding. Along with financial support, pi Ventures will also offer its vast network and domain expertise to enable the growth of its portfolio companies.

Pi Ventures’ Investment Portfolio

Pi Ventures has invested in several start-ups that leverage advanced technologies to solve complex problems. Some of the prominent start-ups in pi Ventures’ investment portfolio include:

Silence Laboratories

Silence Laboratories is an AI-based cybersecurity firm that specializes in safeguarding the connected ecosystem. The company’s platform uses advanced algorithms and machine learning techniques to detect, prevent, and respond to cyber threats. Silence Laboratories aims to offer a safe and secure digital environment to its customers.

SwitchOn

SwitchOn is an industrial technology company that provides smart solutions to the manufacturing industry. The company’s platform uses advanced analytics and IoT to optimize machine performance and increase the efficiency of factory operations. SwitchOn aims to revolutionize the manufacturing industry by providing a unique and innovative approach.

OweMe

OweMe is a blockchain-based platform that offers a B2B currency supply chain management system. The company’s platform streamlines the supply chain process, reducing inventory costs and eliminating risks associated with traditional supply chain management systems. OweMe aims to provide transparency and efficiency in the supply chain process.

Conclusion

The investment commitment of INR 1 billion from SIDBI’s start-up fund and other investors will help pi Ventures invest in cross-industry deep technology start-ups. With this funding, pi Ventures aims to invest in AI and blockchain-based start-ups in India. The company’s portfolio comprises various start-ups that use advanced technology to solve complex problems. These include cybersecurity firm Silence Laboratories, industrial technology provider SwitchOn, and blockchain-based platform OweMe. pi Ventures’ investment in these deep technology start-ups signifies the venture fund’s commitment to fostering technological innovation in India.

FAQs

1. What is pi Ventures?

A. pi Ventures is a technology-focused venture fund company that invests in the deep technology space. The company primarily invests in early-stage companies that operate in the domain of artificial intelligence, machine learning, and the internet of things.

2. What is deep technology?

A. Deep technology refers to the application of advanced technology concepts to solve real-world problems. These often require deep expertise and specialized skills to develop and are therefore not suitable for traditional venture capital funding.

3. What is SIDBI’s start-up fund (FFS)?

A. The start-up fund (FFS) is an initiative of the Small Industrial Development Bank of India (SIDBI) created for investing in start-ups with innovative business ideas, innovative technology solutions, and high growth potential. Apart from providing financial assistance, SIDBI also offers various non-financial services such as management consultancy, technical and marketing assistance.