About Riceberg Ventures
Riceberg Ventures is a venture capital firm founded in 2023. It is primarily based out of Bengaluru, India. As of Mar 2026, Riceberg Ventures is an active investor, having invested in 12 companies, with 2 new investments in the last 12 months. It primarily invests in Seed round in India based startups. Its investments are spread across a wide range of sectors from Life Sciences to High Tech and HealthTech. Most recently it participated in the $***** Seed round of Surf A lot of funds co-invest with Riceberg Ventures, with names like Campus Fund sharing a substantial percentage of its portfolio. Riceberg Ventures has team of 19 people including 5 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed
Riceberg Ventures' List of Top Investments
Riceberg Ventures has a portfolio of 12 companies. Their most notable investmentis in EtherealXTheir portfolio spans across India, Switzerland, United Kingdom and 1 more locations. They have invested in Life Sciences, High Tech, HealthTech and 8 other sectors, across stages such as Seed stage. Here is the list of top investments by Riceberg Ventures:1. EtherealX
Developer of reusable medium-lift launch vehicles and related propulsion systems. The company focuses on vertical landing launch vehicle technology and engine development. It designs liquid rocket engines and propulsion systems for space transportation. The company's engines utilize RP1/LOX propellant and a closed gas generator feed cycle.
Key facts about EtherealX
- Founded Year: 2022
- Location: Bengaluru (India)
- Annual Revenue: 0 - ₹10 Cr as on Mar 31, 2025
- Valuation: $*****
- Stage: Series A
- Total Funding till date: $28.3M
- Employee Count: 26 as on Jul 31, 2025
- Investors: Prosus, Accel and 24 Others
- Latest Funding Round: Seed, Mar 25, 2026, $*****
- Highlight: Editors' Pick
Developer of green propulsion systems and debris collision avoidance technology. It focuses on creating solutions for space safety and logistics. The company develops propulsion systems with new fuel, engines, and catalysts. These systems aim to prevent satellite collisions and reduce debris pollution in space. The goal is to make space safer for satellites and astronauts.
Key facts about Manastu Space
- Founded Year: 2016
- Location: Mumbai (India)
- Annual Revenue: 0 - ₹10 Cr as on Mar 31, 2025
- Valuation: $*****
- Stage: Series A
- Total Funding till date: $6.71M
- Employee Count: 94 as on Aug 31, 2025
- Investors: Shell, LetsVenture and 87 Others
- Latest Funding Round: Series A, Aug 12, 2025, $*****
- Highlight: Editors' Pick
3. AkashaLabdhi
Developer of expandable habitats designed for sustainable living in space. The company focuses on advancing space exploration through innovative habitation technologies. It designs and develops solutions to support long-term human presence beyond Earth. The firm contributes to the future of space infrastructure.
Key facts about AkashaLabdhi
- Founded Year: 2023
- Location: Roorkee (India)
- Annual Revenue: 0 - ₹10 Cr as on Mar 31, 2025
- Valuation: $*****
- Stage: Seed
- Total Funding till date: $1.2M
- Employee Count: 9 as on Jun 30, 2026
- Investors: LetsVenture, Foundation for Science Innovation and Development and 6 Others
- Latest Funding Round: Seed, Sep 26, 2025, $*****
Key facts about Swisspod Technologies
- Founded Year: 2019
- Location: Monthey (Switzerland)
- Stage: Seed
- Total Funding till date: $13M
- Employee Count: 32 as on Jun 30, 2026
- Investors: ACE & Company, Keiretsu Forum and 6 Others
- Latest Funding Round: Seed, Nov 28, 2025, $*****
5. Surf
Developer of non-invasive ultrasound neuromodulation platform for chronic inflammatory disorders. It focuses on stimulating the spleen-brain axis to control inflammation. The technology uses broad-beam ultrasound to activate nerves, releasing neurotransmitters that signal the immune system. This aims to restore immune balance and provide relief from inflammation. The platform is being developed to treat autoimmune disorders without drugs.
Key facts about Surf
- Founded Year: 2023
- Location: United States
- Stage: Seed
- Total Funding till date: $6M
- Employee Count: 9 as on Jun 30, 2026
- Investors: Vertical Venture Partners, TMC Venture Fund and 7 Others
- Latest Funding Round: Seed, Apr 10, 2026, $*****
- Highlight: Editors' Pick
Riceberg Ventures' Year-on-Year Investment Trends
Riceberg Ventures has invested in 12 companies over the last 3 years, with an average of 1 new investment annually in the last 3 years. In 2025, it made 2 investments, while as of Mar 2026, it has made 1 investment in this year. Its most recent first time investment was in Surf and most recent follow-on round was in EtherealX.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 1 | 0 | 1 |
2025 | 1 | 1 | 2 |
2024 | 0 | 0 | 0 |
2023 | 2 | 0 | 2 |
Riceberg Ventures' Investments by Stage
Riceberg Ventures has made 4 investments in Seed stage with an average round size of $2.64M.Riceberg Ventures' Investments by Sector
Riceberg Ventures has a diverse portfolio, with companies operating in the Aerospace, Maritime and Defense Tech, High Tech, Enterprise Applications and Life Sciences. Notably, it has invested in 11 Enterprise (B2B) companies, 11 Tech companies, 6 Tech hardware companies and at least 5 companies focusing on Software.Sector | No. of Investments |
|---|---|
Aerospace, Maritime and Defense Tech | 3 |
High Tech | 3 |
Enterprise Applications | 1 |
Life Sciences | 1 |
Note: We have considered here, only first round of investments
Riceberg Ventures' Investments by Geography
Riceberg Ventures has made most investments in India (3), followed by United States where it has made 1 investment.Country | No. of Investments |
|---|---|
India | 3 |
United States | 1 |
Note: We have considered here, only first round of investments
Riceberg Ventures' recent investments
Riceberg Ventures has made 1 investments in 2026 so far - Surf.Here are the most recent investments by Riceberg Ventures:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Mar 17, 2026 | United States | Seed | 1722 | [+6] | |
Dec 21, 2025 | India | Series A | 1820 | [+6] | |
Sep 26, 2025 | India | Seed | 9464 | [+4] | |
Aug 04, 2023 | India | Seed | 8723 | [+53] | |
Jun 23, 2023 | India | Seed | 9711 | [+4] |
Team profile of Riceberg Ventures
Riceberg Ventures has a team of 19 members including 5 Partners, 2 Venture Partners and 1 Principal located in India. Riceberg Ventures' team sits on the board of 1 company.Here is a list of top team members in Riceberg Ventures:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | - | - | ||
Partner | Hyderabad | |||
Partner | - | - | ||
Partner | - | - | - | |
Partner | - | - | - | |
Venture Partner | - | - | - | |
Venture Partner | - | - | - | |
Principal | - | - |
Co-investors of Riceberg Ventures
Over the past 3 years, 121 investors have co-invested in Riceberg Ventures's portfolio companies. This includes funds and angels.
- Invested before Riceberg Ventures: Shell E4, Shell and 17 others have invested in rounds before Riceberg Ventures. There is 1 company where Shell E4 has invested before Riceberg Ventures and 1 company where Shell has invested before Riceberg Ventures.
- Top Co-investors of Riceberg Ventures: 70 investors entered a company along with Riceberg Ventures. These include investors like Campus Fund (1 company).
- Invested after Riceberg Ventures: A total of 32 investors have invested in Riceberg Ventures's portfolio after their investments. Top Investors include YourNest (1 company), BIG Global Investments JSC (1 company) and Golden Sparrow (1 company).
Recent News related to Riceberg Ventures
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Bengaluru Spacetech “The Guild” Raises $20.5M to Build World’s First Fully Reusable Medium-Lift RocketIndian Startup Times•Jan 28, 2026•EtherealX, TDK Ventures, Accel, Bigcapital and 5 others
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EtherealX Secures $20.5M to Advance Reusable Rocket DevelopmentStartupNews•Jan 15, 2026•TDK Ventures, Better Society Capital, EtherealX, Accel and 7 others
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Space tech startup Akashalabdhi raises $1.2 Mn in pre seed roundStartupNews•Sep 26, 2025•AkashaLabdhi, Riceberg Ventures
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Riceberg Ventures has launched USD 20 Million fund to support deeptech startups.Enablers•Jan 14, 2025•Riceberg Ventures, Signatur Biosciences, EtherealX, Keyron and 2 others
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Manastu Space Secures $3mn In Pre-Series A RoundBW Businessworld•Sep 16, 2016•Manastu Space, Riceberg Ventures, Roots Ventures, Wealthy VC and 8 others
