GrowX Ventures, an India venture capital firm specializing in B2B and deeptech investments, has announced the launch of Fund II.

The fund aims for a corpus of 400 crore rupees (around US$47.1 million) to finance startups in sectors including semiconductors, spacetech, defence tech, robotics, and AI.

Fund II is designed to offer up to 10 crore rupees (around US$1.1 million) in seed funding rounds and 20-30 crore rupees (around US$2.3 million-US$3.5 million) in series B stages.

It aims to support 20 to 24 startups in sectors such as fintech, healthtech, and supply chain or logistics.

The first close of the fund is projected by the end of the year.