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a99 to launch $100 Mn fund to back manufacturing and infra startups

EntrackrEntrackr · 2d ago
a99 to launch $100 Mn fund to back manufacturing and infra startups
Medial

Snippets a99 to launch $100 Mn fund to back manufacturing and infra startups. Early stage focused VC firm a99 (formerly Artha99) is set to raise its third fund with a target corpus of $100 million (about Rs 870 crore). With this fund, the firm intends to back 12-15 startups operating in the manufacturing and infrastructure sectors with a check size in the range of $5 million to $10 million. According to a99, it will focus on startups in the Pre-Series A to Series B stages. It has also received soft commitments of $30 Mn from existing and new investors. The VC firm is aspiring to announce the first close of the fund by April 2026, with no green shoe option. Launched in 2021 by Vignesh Shankar, the Chennai-based firm launched Fund II in 2022, which had an initial target corpus of Rs 50 crore. It later exercised a greenshoe option, which increased the total corpus to Rs 105 crore. With its Fund II, the VC firm has invested in Aditya Avartan, Intangles, Innocule, EzerX, Lyzr.ai, and Raptee, to name a few. From Fund I, a99 invested in Vajro, Intents Mobi, and Sarva. a99 has made one exit from its Fund I portfolio—Helsinki-based application development software provider, Futurice UK, which is a subsidiary of Futurice Finland. The firm had acquired a99’s shares which saw the VC firm cash in 7X returns.

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9Unicorns launches Fund II with target of $200 Mn, rebrands itself to 100Unicorns

EntrackrEntrackr · 1y ago
9Unicorns launches Fund II with target of $200 Mn, rebrands itself to 100Unicorns
Medial

Early-stage accelerator fund 9Unicorns has announced the launch of its second fund following a rebranding exercise. As a result of this rebranding, 9Unicorns will now be known as 100Unicorns. 100Unicorns, a part of multistage investing firm Venture Catalysts Group, has launched its second accelerator fund called 100Unicorns Fund II with a target size of $200 million including a green-shoe option of $100 million. In its first fund, 100Unicorns Fund I (formerly 9Unicorns) had invested in several startups including Videoverse, Trunativ, ZyppElectric, Renee Cosmetics, and IGP. It provides funding ranging from $300,000 to $1 million per startup in the first round, along with product, business and fundraising support. This is followed by $500,000 to $2 million in subsequent rounds with co-investors. 100Unicorns said that it has played a crucial role in the startup ecosystem with initiatives such as DDay and ProStar serving as catalysts for over 80 startups that have collectively secured around $400 million in funding. With the new fund, the fund aims to nurture a pool of 200 outlier startups and propel them to join the billion-dollar club over the next decade.

Exclusive: CoinDCX co-founder partners with ISRO scientists to launch Astrobase, raises $10 Mn

EntrackrEntrackr · 2m ago
Exclusive: CoinDCX co-founder partners with ISRO scientists to launch Astrobase, raises $10 Mn
Medial

Exclusive: CoinDCX co-founder partners with ISRO scientists to launch Astrobase, raises $10 Mn The Bengaluru-based space tech company has raised over Rs 60 crore ($7 million) in its maiden funding round, led by venture firm BanyanCo, as per information sourced from the regulatory filings with MCA. CoinDCX co-founder Neeraj Khandelwal has partnered with senior ISRO scientists Devakumar Thammisetty, Pawan Kumar, and Prashant M to launch Astrobase, according to sources familiar with the matter. Astrobase aims to address the growing demand for satellite launches by building cost-efficient, high-payload launch vehicles. “The company is working on a methane oxygen full flow staged combustion engine designed to carry payloads ranging from 3 to 10 tonnes. It plans to offer three configurations of its launch vehicle: fully expendable, partially reusable and fully reusable, with a target launch cost of $300 per kilogram by 2034,” a person familiar with the matter said. As per sources, the company has secured an engine manufacturing facility in Bengaluru’s aerospace hub and is ready to begin production. “Astrobase is moving from research and development to manufacturing. It has completed engine and vehicle designs for an orbital-class launch system.” Entrackr estimates the startup’s valuation at approximately Rs 623 crore ($72 million) in this round. The company is preparing to raise additional capital, and its valuation will change accordingly. Following Entrackr’s story, Khandelwal clarified that the company has closed a $10 million seed round. He mentioned that the engine manufacturing facility is up and running, with 10 senior ISRO scientists on board. Over the past two years, spacetech startups are gaining momentum over the past few years. In 2024, 13 startups from the segment raised around $85 million in funding. In the ongoing calendar year, 10 such startups have announced their fundraise worth over $15 million. In 2025, the Indian government introduced a Rs 500 crore ($58 million) fund through IN-SPACe and approved a Rs 1,000 crore ($116 million) VC fund to support space-tech startups. The funds are intended to increase local development, reduce import reliance, and expand private sector participation in the space sector.

BAT VC announces $100 Mn fund to back Indo-US startups

EntrackrEntrackr · 3m ago
BAT VC announces $100 Mn fund to back Indo-US startups
Medial

Former X India head Manish Maheshwari’s venture capital (VC) firm, BAT VC, has made a foray into India with the announcement of a $100 Mn fund to back early-stage ventures in the country. According to BAT VC, its Fund II will focus on startups operating in both India and the US across sectors such as AI, fintech, and SaaS. The fund is co-founded by Manish Maheshwari, Aditya Mishra, and Ravi Metta, with Maheshwari leading the VC firm’s regional expansion in the country. The VC firm says that Fund II has already attracted interest from “top-tier” institutional limited partners (LPs), strategic investors, and family offices in both India and the US. BAT VC plans to invest in startups before product-market fit (PMF), de-risking the execution with active support and internal frameworks. It will help founders access customers, capital, and talent in both India and the US. The VC firm prioritizes startups that place AI at the center of their product and business model. BAT VC also eyes Indo-US dual-market startups, which raise more capital on average than single-geography peers, adding that SaaS companies with operations in both nations demonstrate 1.8X higher median revenue growth. Established in 2021, BAT VC is a cross-border VC firm that backs AI-first early-stage startups in sectors such as fintech and SaaS. The VC firm claims to help founders achieve PMF and scale globally. It has backed notable companies including StockGro, Uptiq AI, Nickelytics, Accern, and others. The New York-based VC firm launched its maiden fund in 2022, which claims to have clocked an internal rate of return (IRR) of 30% and a multiple on invested capital (MOIC) of 1.61X. It also claims that the portfolio startups in its inaugural fund have achieved an average revenue growth of 210% within 18 months.

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