Speciale Invest raises ₹286 crore, to focus on deep-tech and SaaS

The fund has backed start-ups such as Agnikul, The ePlane Company, CynLr, Qnu Labs

Speciale Invest, a seed-stage VC investing in deep science and enterprise technologies, has announced its second fund’s final closure at ₹286 crore. 

The second fund has been oversubscribed twice the amount announced during the fund’s launch, which was ₹140 crore.

In April 2021, the company had announced their second fund to be a corpus of around ₹100 crore, but this got oversubscribed. The fund, which has backed start-ups such as Agnikul, The ePlane Company, CynLr, Qnu Labs, GalaxEye Space, Wingman, StreamAlive, Airboxr, Trainn, Uravu Labs, among others, will look to invest in 20 plus early-stage start-ups through pre-seed and seed rounds with the average cheque sizes ranging from US$ 100,000 to US$ 1 million.

Speciale is focused on investing in start-ups building enterprise software products including SAAS, developers tools and frontier technologies including climate, advanced materials, space tech, robotics, photonics, alternative energy, to name a few in India well as some parts of Asia. It had raised its first fund in 2018 and invested in 18 start-ups so far, with an average deal size of sub US$ 0.5 million.

Vishesh Rajaram, managing partner at Speciale Invest, said, “The oversubscribed closure of our second fund reaffirms the opportunity ahead for DeepTech in India and our commitment towards working with entrepreneurs to solve hard technology problems for the world from India.”

“We will continue to partner with early-stage founders who have unique and deep insights into their vision and have products and tech that will make the world simpler and better, said Arjun Rao, general partner at Speciale Invest.”