Indian VC firm Speciale Invest raises $19m in the first close of its second fund

More details

• Stage: First close
• Investors: Undisclosed group of domestic investors including family offices from Indian business houses, and founders and CEOs of technology and industrial companies
• Ticket size: US$300,000 to US$500,000
• Sectors: Deep tech in cloud, voice and vision ML/AI, image analytics, AR, VR, propulsion tech, robotics, rocket engines, lithium tech, micro-electronics, optical communication tech

More company updates

• The fund aims to invest in about 18 to 20 startups that build enterprise software products including SaaS, developer tools, and frontier technology products such as space tech, robotics, photonics, and alternative energy, among others.
• Speciale Invest has backed the companies Wingman, TotalCloud, Scapic, iAuro, Pocket52, The ePlane Company, Agnikul, CynLr, and Kawa Space.
• With its second fund, it will make follow-on investments in its portfolio companies.
• The VC firm had raised its first fund in 2018 and invested in 14 startups with an average deal size of about US$500,000.

Currency converted from Indian rupees to US dollar: US$1 = 73.80 rupees.

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