Fundamentum closes ₹3,000 cr for Indian AI and deep-tech startups
Business
Nandan Nilekani-backed Fundamentum just closed ₹3,000 crore for its third fund to back Indian AI and deep-tech startups.
The team is also eyeing an extra ₹500 crore from institutional investors thanks to strong interest.
Fundraising cap raised to ₹3,500 cr
Led by Fundamentum co-founder Ashish Kumar and managed by Fundamentum Frontier Advisors, the fund plans to invest in Indian AI and deep-tech startups.
Notably, 70% of the money comes from Indian investors, mainly family offices, which shows growing local confidence in India's AI scene.
The fund has raised its fundraising ceiling to ₹3,500 crore following strong demand.