About Windrose Capital
Windrose Capital is a venture capital firm founded in 2013. It is primarily based out of Pune, India. As of 2025, Windrose Capital has invested in 28 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 High Tech and Retail. Most recently it participated in the $***** Seed round of Rubick Overall, Windrose Capital portfolio has seen 1 IPO and 1 acquisition, namely ideaForge and Supreme Trans. A lot of funds co-invest with Windrose Capital, with names like 1Crowd sharing a substantial percentage of its portfolio. Windrose Capital has team of 2 people.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed & Series A
Portfolio IPOs
Portfolio Acquisitions
Windrose Capital's List of Top Investments
Windrose Capital has a portfolio of 28 companies. Their most notable investments are in Rubick and Rubick.Their portfolio spans across India and United States. They have invested in Enterprise Applications, High Tech, Retail and 14 other sectors, across stages such as Seed, Series A stages. Here is the list of top investments by Windrose Capital:1. Text Mercato
Provider of artificial intelligence software for retail product data management. This technology enables businesses to automate catalog operations, standardize product information, and synchronize inventory across multiple digital sales channels. The system facilitates the enrichment of product attributes, image editing, and the generation of marketing content. It provides competitive intelligence by monitoring market trends, pricing, and customer sentiment. Additionally, the platform supports search engine optimization and growth strategies through automated workflows. By integrating with various e-commerce sources, the software assists in maintaining accurate listings and improving discovery. The solution utilizes machine learning models to assist teams in managing large-scale product operations and executing complex tasks through natural language interactions. It serves various retail sectors by streamlining the transition from product onboarding to final publication on marketplaces.
Key facts about Text Mercato
- Founded Year: 2015
- Location: Bengaluru (India)
- Annual Revenue: ₹10 - ₹50 Cr as on Mar 31, 2025
- Valuation: $*****
- Stage: Seed
- Total Funding till date: $4.21M
- Employee Count: 82 as on Aug 31, 2025
- Investors: Aeroflex Enterprises, Firstport Capital and 99 Others
- Latest Funding Round: Seed, Feb 02, 2024, $*****
- Highlight: Editors' Pick
2. ideaForge
Manufacturer of unmanned aerial vehicles and provider of flight software. The business designs and builds aerial platforms for aerial surveillance, mapping, and inspection tasks. It develops proprietary software systems to support flight operations, data processing, and navigational control for its hardware products.
Key facts about ideaForge
- Founded Year: 2007
- Location: Navi Mumbai (India)
- Annual Revenue: ₹100 - ₹500 Cr as on Mar 31, 2026
- Stage: Public
- Total Funding till date: $53.8M
- Employee Count: 531 as on May 31, 2026
- Investors: HDFC Mutual Fund, Qualcomm Ventures and 59 Others
- Latest Funding Round: Post IPO, Jul 14, 2026, $*****
- Highlight: Public
3. Skye Air
Platform providing autonomous drone delivery solutions for last-mile logistics. This technology facilitates the transport of goods from hubs to designated points using unmanned aerial vehicles. The system integrates intelligent airspace management software to ensure operational safety and regulatory compliance during flight. By combining drones with ground robotics, the infrastructure supports efficient and rapid package distribution for various industries. This approach addresses urban congestion by shifting logistics off road networks to decrease transit times. Enterprise partners utilize these services to manage deliveries for e-commerce, healthcare, and other essential supply chains. The platform focuses on maintaining continuous operations to support scalable and consistent logistics workflows.
Key facts about Skye Air
- Founded Year: 2019
- Location: Gurugram (India)
- Annual Revenue: 0 - ₹10 Cr as on Mar 31, 2025
- Valuation: $*****
- Stage: Series B
- Total Funding till date: $11.3M
- Employee Count: 92 as on May 31, 2026
- Investors: Chiratae Ventures, Indian Angel Network and 69 Others
- Latest Funding Round: Series B, Jan 13, 2026, $*****
- Highlight: Editors' Pick
4. Biddano
Cloud based supply chain management platform for pharmacies and hospitals. The company offers a ShortBuk application that allows pharmacies and local distributors to place orders for medical supplies. It has features for tracking their order progress. It also assists to connect pharmacies and hospitals with different distributors and provides online pharma stores with medicine dispensing management systems.
Key facts about Biddano
- Founded Year: 2016
- Location: Pune (India)
- Annual Revenue: ₹10 - ₹50 Cr as on Mar 31, 2025
- Valuation: $*****
- Stage: Series A
- Total Funding till date: $6.97M
- Employee Count: 85 as on Sep 30, 2026
- Investors: BlackSoil, ACG and 159 Others
- Latest Funding Round: Angel, May 03, 2024, $*****
- Highlight: Editors' Pick
Provider of an AI-powered platform for omnichannel support, marketing, and engagement. The platform offers tools for managing customer interactions across multiple channels from a single dashboard. It provides features such as an AI agent, customer segmentation, and retargeting capabilities. The platform also includes support analytics and upselling tools.
Key facts about BusinessOnBot
- Founded Year: 2020
- Location: Bengaluru (India)
- Annual Revenue: ₹10 - ₹50 Cr as on Mar 31, 2025
- Valuation: $*****
- Stage: Seed
- Total Funding till date: $3.42M
- Employee Count: 49 as on Aug 31, 2025
- Investors: WhiteHill Ventures, Dholakia Ventures and 49 Others
- Latest Funding Round: Seed, Aug 01, 2024, $*****
- Highlight: Editors' Pick
Windrose Capital's Year-on-Year Investment Trends
Windrose Capital has invested in 28 companies over the last 12 years, with an average of 2 new investments annually in the last 10 years. In 2025, it made 2 investments. Its most recent first time investment was in Trezi and most recent follow-on round was in Rubick.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 0 | 2 | 2 |
2024 | 4 | 0 | 4 |
2023 | 3 | 1 | 4 |
2022 | 1 | 2 | 3 |
2021 | 3 | 1 | 4 |
2020 | 2 | 2 | 4 |
2019 | 3 | 1 | 4 |
2018 | 5 | 0 | 5 |
Windrose Capital's Investments by Stage
Windrose Capital has made 25 investments in Seed stage with an average round size of $407K and 2 investments in Series A stage with an average round size of $4M.Stage of entry | No. of Investments |
|---|---|
Seed | 25 |
Series A | 2 |
Note: We have considered here, only first round of investments
Windrose Capital's Investments by Sector
Windrose Capital has a diverse portfolio, with companies operating in the Enterprise Applications, Vertical SaaS, FinTech, High Tech and Consumer. Notably, it has invested in 25 Enterprise (B2B) companies, 22 Tech companies, 16 Software companies and at least 13 companies focusing on Saas.Sector | No. of Investments |
|---|---|
Enterprise Applications | 12 |
Vertical SaaS | 8 |
FinTech | 6 |
High Tech | 6 |
Consumer | 5 |
Others | 30 |
Note: We have considered here, only first round of investments
Windrose Capital's Investments by Geography
Windrose Capital has made most investments in India (24), followed by United Kingdom where it has made 2 investments.Country | No. of Investments |
|---|---|
India | 24 |
United Kingdom | 2 |
United States | 2 |
Note: We have considered here, only first round of investments
Windrose Capital's recent investments
Windrose Capital has not made any investment in 2026 so far.Here are the most recent investments by Windrose Capital:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
2025 | India | Seed | 7455 | - | |
2025 | India | Seed | 8675 | - | |
May 17, 2024 | India | Series A | 3637 | - | |
Apr 27, 2024 | India | Seed | 3126 | ||
Jan 30, 2024 | India | Series A | 9198 | [+18] |
IPOs and Publicly Listed companies in Windrose Capital's Portfolio
1 of Windrose Capital's portfolio company became public - ideaForge. It got listed on the National Stock Exchange (NSE), Bombay Stock Exchange (BSE), in Jul 2023 at marketcap of $339MHere are Windrose Capital's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jul 07, 2023 | 2015 | Seed | 9690 |
Acquired companies in Windrose Capital's Portfolio
1 company from Windrose Capital's portfolio has been acquired. The most recent acquisition was Supreme Trans in Oct 2018 by ZipGo for $*****.Here are Windrose Capital's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Oct 27, 2018 | Mar 25, 2015 | Seed | 5758 |
Team profile of Windrose Capital
Windrose Capital has a team of 2 members.Co-investors of Windrose Capital
Over the past 12 years, 706 investors have co-invested in Windrose Capital's portfolio companies. This includes funds and angels.
- Invested before Windrose Capital: LVX, Raaj Shah and 238 others have invested in rounds before Windrose Capital. There are 3 companies where LVX has invested before Windrose Capital and 2 companies where Raaj Shah has invested before Windrose Capital.
- Top Co-investors of Windrose Capital: 75 investors entered a company along with Windrose Capital. These include investors like 1Crowd (2 companies).
- Invested after Windrose Capital: A total of 391 investors have invested in Windrose Capital's portfolio after their investments. Top Investors include Angel List (3 companies), Levim Capital Investments (3 companies) and LVX (3 companies).
Recent News related to Windrose Capital
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AutoDukan raises $1 Mn in pre-Series A roundEntrackr•Sep 04, 2025•Autodukan, Choice Group, The MetroMax Group, Windrose Capital
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Drone Startup Skye Air Bags $4 Mn From Mount Judi Ventures, OthersInc42•Jun 11, 2024•Skye Air, Mount Judi Ventures, Chiratae Ventures, Windrose Capital and 6 others
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Trezi has raised an undisclosed amount in Series A funding round led by Windrose Capital and other investors.Enablers•May 17, 2024•Trezi, Windrose Capital
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WindRose Health Investors invests in Third Wave Recovery SystemsPrivate Equity Wire•Sep 20, 2022•Third Wave Recovery Systems, WindRose Health Investors, Windrose Capital, SRX
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Healthcare marketing services agency BPD secures investment from windrosePE Hub•Aug 03, 2022•BPD Advertising, Windrose Capital
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WindRose buys Ganse ApothecaryPE Hub•Jul 14, 2022•Windrose Capital, Ganse Apothecary, Terrapin Pharmacy
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Ex-Blackstone India head’s VC firm leads $20m round of drone startupTech in Asia•Apr 29, 2022•ideaForge, Celesta Capital, Qualcomm, Infina Finance and 6 others
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Windrose Capital pushes debut fund close to year-end, lines up new dealsVCCircle•Jan 29, 2021•Windrose Capital
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Bengaluru-based content marketing startup Text Mercato raises pre-Series A fundingHrNxt.com•Dec 11, 2020•Text Mercato, Windrose Capital, 1Crowd, Precily and 1 other
