About Mahindra Partners
Mahindra Partners is a venture capital firm founded in 2009. It is primarily based out of Mumbai, India. As of Jan 2020, Mahindra Partners has invested in 16 companies. It primarily invests in Series B round in India based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to High Tech and Consumer. Most recently it participated in the $***** Series B round of Medwell Ventures Overall, Mahindra Partners portfolio has seen 1 unicorn, 1 IPO and 2 acquisitions including key companies like FirstCry, Porter and Scoot Networks. A lot of funds co-invest with Mahindra Partners, with names like Kris Gopalakrishnan sharing a substantial percentage of its portfolio. Mahindra Partners has team of 1 people including 1 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series B, Series A & 1 more
Portfolio IPOs
Portfolio Acquisitions
Portfolio Unicorns
Portfolio Soonicorns
Mahindra Partners' List of Top Investments
Mahindra Partners has a portfolio of 16 companies, one of which is a Unicorn. Their most notable investments are in Medwell Ventures and ParkourSC.Their portfolio spans across India, United States and United Kingdom. They have invested in Enterprise Applications, High Tech, Consumer and 16 other sectors, across stages such as Series B, Series A and 1 more. Here is the list of top investments by Mahindra Partners:
1. FirstCry
Online retailer offering a range of baby, kids, and maternity products. The platform offers products such as toys, diapers, clothes, footwear, strollers, car seats, and nursery furniture through its website and mobile app. It provides products and also expert-validated parenting and pregnancy advice and tools.
Key facts about FirstCry
- Founded Year: 2010
- Location: Pune (India)
- Annual Revenue: ₹1,000+ Cr as on Mar 31, 2025
- Stage: Public
- Total Funding till date: $513M
- Employee Count: 3,752 as on Mar 31, 2025
- Investors: Chiratae Ventures, ChrysCapital and 54 Others
- Latest Funding Round: Series E, Mar 27, 2021, $*****
- Highlight: Public
2. Porter
Provider of on-demand goods transportation and logistics solutions via application. The company offers options for transporting items using various vehicle types. Services include options for businesses needing support with distribution and supply chain management. The company also provides packing and moving services for residential relocation.
Key facts about Porter
- Founded Year: 2014
- Location: Bengaluru (India)
- Annual Revenue: ₹1,000+ Cr as on Mar 31, 2026
- Valuation: $*****
- Stage: Series F
- Total Funding till date: $198M
- Employee Count: 2,027 as on Aug 31, 2025
- Investors: Vitruvian Partners, Magnetic and 57 Others
- Latest Funding Round: Series F, Jan 15, 2026, $*****
- Highlight: Editors' Pick
Leading provider of comprehensive eye care in India. It offers a wide array of ophthalmic treatments and surgeries. The organization utilizes advanced surgical and diagnostic technology. A team of highly skilled and experienced doctors provides care across various eye care specialities. These include laser vision correction, cataract surgery, glaucoma management, and retinal treatments. The facilities are registered under the Nursing Home Act in multiple states. An eye bank is also operated.
Key facts about Centre for Sight
- Founded Year: 1996
- Location: Delhi (India)
- Annual Revenue: ₹500 - ₹1,000 Cr as on Mar 31, 2025
- Valuation: $*****
- Stage: Series B
- Total Funding till date: $92.6M
- Employee Count: 1,243 as on Jan 31, 2025
- Investors: ChrysCapital, HT Media and 11 Others
- Latest Funding Round: Series B, May 19, 2026, $*****
- Highlight: Editors' Pick
4. Avaamo
Provider of conversational AI platform for enterprises. It offers solutions to design and deploy omnichannel intelligent assistants. It enables users to implement conversational interfaces in areas like banking, insurance, telco, retail, manufacturing, and healthcare. The company claims that the technology automates judgment-intensive, multi-turn responses to complex, domain-specific customer queries with training data.
Key facts about Avaamo
- Founded Year: 2014
- Location: Los Altos (United States)
- Annual Revenue: ₹10 - ₹50 Cr as on Mar 31, 2025
- Valuation: $*****
- Stage: Series A
- Total Funding till date: $23.5M
- Employee Count: 139 as on Jul 31, 2026
- Investors: Bluepointe Ventures, Clear Ventures and 11 Others
- Latest Funding Round: Conventional Debt, Aug 02, 2021, $*****
- Highlight: Editors' Pick
5. ParkourSC
Provider of web-based supply chain visibility track & trace solutions. The company offers solutions for managing supply chain persistence & risk. It offers asset tracking, inventory tracking, and logistics tracking solutions. It captures inventory level insights, locations, and synchronized assets to manage transparency across the supply chain.
Key facts about ParkourSC
- Founded Year: 2014
- Location: San Jose (United States)
- Stage: Series C
- Total Funding till date: $65M
- Employee Count: 39 as on Jul 31, 2026
- Investors: Western Technology Investment, Bluepointe Ventures and 16 Others
- Latest Funding Round: Series C, Mar 03, 2022, $*****
- Highlight: Editors' Pick
Mahindra Partners' Year-on-Year Investment Trends
Mahindra Partners has invested in 17 companies over the last 16 years, with an average of 1 new investment annually in the last 10 years. Its most recent first time investment was in Centre for Sight and most recent follow-on round was in Medwell Ventures.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 0 | 0 | 0 |
2024 | 0 | 0 | 0 |
2023 | 0 | 0 | 0 |
2022 | 0 | 0 | 0 |
2021 | 0 | 0 | 0 |
2020 | 0 | 1 | 1 |
2019 | 1 | 1 | 2 |
2018 | 1 | 0 | 1 |
2017 | 3 | 0 | 3 |
Mahindra Partners' Investments by Stage
Mahindra Partners has made 5 investments in Series B stage with an average round size of $20.3M, 2 investments in Series A stage with an average round size of $13.6M and 1 investment in Series D stage with an average round size of $34M.Stage of entry | No. of Investments |
|---|---|
Series B | 5 |
Series A | 2 |
Series D | 1 |
Note: We have considered here, only first round of investments
Mahindra Partners' Investments by Sector
Mahindra Partners has a diverse portfolio, with companies operating in the Consumer, Enterprise Applications, Healthcare, Retail and Transportation and Logistics Tech. Notably, it has invested in 6 Enterprise (B2B) companies, 6 Tech companies, 5 Consumer (B2C) companies and at least 3 companies focusing on Saas.Sector | No. of Investments |
|---|---|
Consumer | 3 |
Enterprise Applications | 2 |
Healthcare | 2 |
Retail | 2 |
Transportation and Logistics Tech | 2 |
Others | 11 |
Note: We have considered here, only first round of investments
Mahindra Partners' Investments by Geography
Mahindra Partners has made most investments in India (4), followed by United States where it has made 3 investments.Country | No. of Investments |
|---|---|
India | 4 |
United States | 3 |
United Kingdom | 1 |
Note: We have considered here, only first round of investments
Mahindra Partners' recent investments
Mahindra Partners has not made any investment in 2026 so far.Here are the most recent investments by Mahindra Partners:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Jan 31, 2020 | India | Series B | 1299 | [+3] | |
Jul 10, 2019 | United States | Series B | 7958 | [+4] | |
May 13, 2019 | India | Series B | 2092 | - | |
May 08, 2018 | United States | Series A | 3199 | [+3] | |
Sep 19, 2017 | United States | Series A | 8018 | [+2] |
Unicorns in Mahindra Partners' Portfolio
Mahindra Partners has 1 unicorn in its portfolio - Porter. The most recent unicorn in their portfolio is Porter which became a unicorn in 2024, 6 years after Mahindra Partners first invested in it.Here is a list of unicorns in Mahindra Partners' portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
75 | Provider of on-demand goods transportation and logistics solutions via application | 2014 | Bengaluru | Series F | {qhhl{k |
IPOs and Publicly Listed companies in Mahindra Partners' Portfolio
1 of Mahindra Partners' portfolio company became public - FirstCry. It got listed on the Bombay Stock Exchange (BSE), National Stock Exchange (NSE), in Aug 2024 at marketcap of $2.88BHere are Mahindra Partners' portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Aug 13, 2024 | Oct 17, 2016 | Series D | 6351 |
Acquired companies in Mahindra Partners' Portfolio
2 companies from Mahindra Partners' portfolio have been acquired. The most recent acquisition was Medwell Ventures in Apr 2023 by HCAH for $*****.Here are Mahindra Partners' portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Apr 26, 2023 | Apr 05, 2017 | Series B | 5635 | |
Jun 05, 2019 | Jun 28, 2016 | Series B | 3463 |
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Team profile of Mahindra Partners
Mahindra Partners has a team of 1 member located in India. Mahindra Partners' team sits on the board of 1 company.Co-investors of Mahindra Partners
Over the past 16 years, 115 investors have co-invested in Mahindra Partners's portfolio companies. This includes funds and angels.
- Invested before Mahindra Partners: Ratan Naval Tata, Chiratae Ventures and 57 others have invested in rounds before Mahindra Partners. There is 1 company where Ratan Naval Tata has invested before Mahindra Partners and 1 company where Chiratae Ventures has invested before Mahindra Partners.
- Top Co-investors of Mahindra Partners: 18 investors entered a company along with Mahindra Partners. These include investors like Kris Gopalakrishnan (1 company).
- Invested after Mahindra Partners: A total of 38 investors have invested in Mahindra Partners's portfolio after their investments. Top Investors include SoftBank Vision Fund (1 company), Premji Invest (1 company) and Lightstone Ventures (1 company).
Recent News related to Mahindra Partners
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Mahindra's PE Arm Exits Healthcare Firm As New Investor Comes On BoardVCCircle•May 14, 2024•Mahindra Partners
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Elder-care firm Samarth Life raises Rs 12 crore from Aroa Venture Partners, othersThe Economic Times•Feb 21, 2024•Samarth, Aroa Venture Partners, Samarth, Social Alpha and 1 other
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Blue Planet Acquires Majority Stake In Mahindra Waste To EnergySafeguard Financial•Feb 15, 2024•Blue Planet, Mahindra Partners, Energy Solutions, Mahindra and 2 others
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Mahindra & Mahindra inches up on completing acquisition of balance 12.61% stake in MWTESLUdaipur Kiran•Jan 02, 2023•Mahindra, Mahindra Partners
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GenZe Joins Mahindra Automotive North AmericaBusiness Wire•Feb 18, 2019•Mahindra Partners, GenZe, Mahindra Automotive North America, Mahindra
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Intel Capital pumps $72M into AI, IoT, cloud and silicon startups, $115M invested so far in 2018TechCrunch+•May 08, 2018•Intel, Alauda, Intel Capital, Mingzhao Capital and 50 others
