About India Innovation Fund
India Innovation Fund is a venture capital firm founded in 2010. It is primarily based out of Bengaluru, India. As of Sep 2019, India Innovation Fund has invested in 10 companies. It primarily invests in Seed round in India based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to Life Sciences and Retail. Most recently it participated in the $***** Series A round of Apaxen Overall, India Innovation Fund portfolio has seen 1 IPO, namely SEDEMAC. A lot of funds co-invest with India Innovation Fund, with names like Accel sharing a substantial percentage of its portfolio.Key Metrics
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series A, Seed & 1 more
Portfolio IPOs
Portfolio Soonicorns
India Innovation Fund's List of Top Investments
India Innovation Fund has a portfolio of 10 companies. Their most notable investments are in Shantani Proteome Analytics and Shantani Proteome Analytics.Their portfolio spans across India, United States, Belgium and 1 more locations. They have invested in Enterprise Applications, Life Sciences, Retail and 5 other sectors, across stages such as Series A, Seed and 1 more. Here is the list of top investments by India Innovation Fund:
1. SEDEMAC
Manufacturer of motor vehicle parts and systems. Its product portfolio includes sensorless integrated starter generators, ECUs for fuel injection, smart ignition, voltage regulators, battery management systems, connectivity devices, generator controllers, and battery chargers. It supplies critical-to-the-application control products in large volumes, from in-house lines, to leaders of large markets.
Key facts about SEDEMAC
- Founded Year: 2007
- Location: Pune (India)
- Annual Revenue: ₹500 - ₹1,000 Cr as on Mar 31, 2025
- Stage: Public
- Total Funding till date: $26.2M
- Employee Count: 518 as on May 31, 2026
- Investors: 360 One, Iron Pillar and 25 Others
- Latest Funding Round: Angel, Sep 01, 2025, $*****
- Highlight: Public
Developer of a system for preserving the tumor microenvironment. It offers anthropic biological systems, data, and Artificial Intelligence platform to capture the complexity of human tumors and autologous blood samples which are cultured to preservice the microenvironment, tumor architecture and immune cell compartment to conduct ex vivo evaluation of tumor response to drug treatment.
Key facts about Farcast Biosciences
- Founded Year: 2009
- Location: Madison (United States)
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $88.1M
- Employee Count: 48 as on Jul 31, 2026
- Investors: Sequoia Capital, Accel and 32 Others
- Latest Funding Round: Series C, Jul 11, 2018, $*****
- Highlight: Editors' Pick
3. Vegayan
Vegayan Systems is a network management solutions provider which caters to telecom operators, services providers, and enterprises in India and overseas. Its product offerings include Simplus Product Suite for monitoring, control, optimization, and management of network infrastructure. Its features include real-time network monitoring and trap-handling capabilities using a direct network interface; data collection and analysis of topology, inventory, fault, performance and configuration of the network; service provisioning, and network device management solutions. It also provides network deployment, consulting, and support services. It has received several awards which include awards from Intel, Indian Department of Science and Technology (DST), National Association of Software and Services Companies (NASSCOM) and The Indus Entrepreneurs (TiE).
Key facts about Vegayan
Biotechnology company focused on advancing personalized cancer treatment through its clinically validated oncology drug efficacy platform, CANscript.
Key facts about Mitra Biotech
- Founded Year: 2010
- Location: Woburn (United States)
- Valuation: $*****
- Stage: Series B
- Total Funding till date: $40.7M
- Employee Count: 28 as on Jul 31, 2026
- Investors: Sequoia Capital, Accel and 7 Others
- Latest Funding Round: Series B, Aug 28, 2016, $*****
- Highlight: Editors' Pick
Provider of a innovative technologies for managing, diagnosing, and treating various gastrointestinal disorders, with a focus on reducing costs and complications associated with incontinence and other critical care conditions.
Key facts about Consure Medical
- Founded Year: 2012
- Location: Carrollton (United States)
- Annual Revenue: 0 - ₹10 Cr as on Mar 31, 2024
- Valuation: $*****
- Stage: Series B
- Total Funding till date: $5.94M
- Employee Count: 50 as on Jul 31, 2026
- Investors: Accel, India Venture Partnership and 64 Others
- Latest Funding Round: Series B, Apr 25, 2020, $*****
- Highlight: Editors' Pick
India Innovation Fund's Year-on-Year Investment Trends
India Innovation Fund has invested in 10 companies over the last 16 years, with an average of 0 new investment annually in the last 10 years. Its most recent first time investment was in Apaxen and most recent follow-on round was in Mitra Biotech.India Innovation Fund's Investments by Stage
India Innovation Fund has made 6 investments in Series A stage with an average round size of $3.75M, 3 investments in Seed stage with an average round size of $486K and 1 investment in Series B stage with an average round size of $774K.Stage of entry | No. of Investments |
|---|---|
Series A | 6 |
Seed | 3 |
Series B | 1 |
Note: We have considered here, only first round of investments
India Innovation Fund's Investments by Sector
India Innovation Fund has a diverse portfolio, with companies operating in the Life Sciences, Enterprise Applications, Auto, Big Data - Industry Applications and Consumer. Notably, it has invested in 9 Enterprise (B2B) companies, 9 Tech companies, 4 Software companies and at least 3 companies focusing on Saas.Sector | No. of Investments |
|---|---|
Life Sciences | 5 |
Enterprise Applications | 4 |
Auto | 1 |
Big Data - Industry Applications | 1 |
Consumer | 1 |
Others | 5 |
Note: We have considered here, only first round of investments
India Innovation Fund's Investments by Geography
India Innovation Fund has made most investments in India (5), followed by United States where it has made 4 investments.Country | No. of Investments |
|---|---|
India | 5 |
United States | 4 |
Belgium | 1 |
Vietnam | 1 |
Note: We have considered here, only first round of investments
India Innovation Fund's recent investments
India Innovation Fund has not made any investment in 2026 so far.Here are the most recent investments by India Innovation Fund:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Sep 11, 2019 | Belgium | Series A | 6707 | [+1] | |
Sep 05, 2019 | Vietnam | Series A | 4337 | ||
Aug 28, 2016 | United States | Series B | 3385 | [+5] | |
Nov 2015 | United States | Series B | 2197 | [+20] | |
Jan 12, 2015 | India | Seed | 3354 |
IPOs and Publicly Listed companies in India Innovation Fund's Portfolio
1 of India Innovation Fund's portfolio company became public - SEDEMAC. It got listed on the Bombay Stock Exchange (BSE), National Stock Exchange (NSE), in Mar 2026 at marketcap of $650MHere are India Innovation Fund's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Mar 11, 2026 | Aug 22, 2011 | Series B | 5320 |
Co-investors of India Innovation Fund
Over the past 16 years, 144 investors have co-invested in India Innovation Fund's portfolio companies. This includes funds and angels.
- Invested before India Innovation Fund: Shell Foundation, Nexus Venture Partners and 25 others have invested in rounds before India Innovation Fund. There is 1 company where Shell Foundation has invested before India Innovation Fund and 1 company where Nexus Venture Partners has invested before India Innovation Fund.
- Top Co-investors of India Innovation Fund: 75 investors entered a company along with India Innovation Fund. These include investors like Accel (2 companies).
- Invested after India Innovation Fund: A total of 42 investors have invested in India Innovation Fund's portfolio after their investments. Top Investors include Sequoia Capital (2 companies), Sands Capital Ventures (2 companies) and RA Capital Management (2 companies).
Recent News related to India Innovation Fund
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Mitra Biotech raises Series B round from Tata Capital Innovation FundYourStory•Oct 25, 2013•Masterkey Holdings, Farcast Biosciences, Tata Capital, Accel and 1 other
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L&T to sell medical equipment bizBusiness Line•Nov 16, 2012•Larsen Toubro, Skanray, Trivitron, Eight Roads Ventures and 27 others
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