India’s Inflexor Ventures hits $81m in final close of second fund

India-based Inflexor Ventures announced that it has hit the final close of its second fund, Inflexor Technology.

More details

• Investors: SBICap Ventures, Small Industries Development Bank of India, Survam Partners, other family offices and high-net-worth individuals, including founders of technology companies
• Target amount: 6 billion rupees (US$80.7 million)
• Average ticket size for investments: Initial checks range from 50 million rupees to 200 million rupees (US$672,000 to US$2.7 million)
• Sectors: Fintech, healthtech, consumer tech, agritech, and space tech, among others

More company updates

• Inflexor Technology intends to invest in around 25 startups in the next three to four years. It will participate in pre-series A to series B rounds as well as follow-on rounds, based on company performance and funding stage.
• So far, the fund has invested in these startups: Steradian Semiconductors, which develops AI-based surveillance systems for autonomous vehicles; PlayShifu, a maker of edtech toys that feature augmented reality; content translation platform Vitra.ai; and blockchain-enabled Kale Logistics.
• The fund is also working on two to three other late-stage deals. However, Inflexor did not name the companies involved in the deals.
• The venture capital firm also teamed up with 100X.VC to launch a deep-tech fellowship program to invest in startups’ seed to series A funding with its US$100 million fund.

Currency converted from Indian rupees to US dollar: US$1 = 74.34 rupees.

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