Early-stage VC · Seed–Series A · Bengaluru
Bharat Innovation Fund
Verified by Women Can StartupSnapshot
- Firm type
- Early-stage VC
- Founded
- 2018
- Headquarters
- Bengaluru
- Other offices
- Ahmedabad
- Fund / AUM
- $100M deeptech fund (first close 2018–19)
- Geographies
- India
- Leads rounds
- Yes
- Last updated
- 23 July 2026
About Bharat Innovation Fund
A deeptech-focused fund out of the CIIE.CO and IIM Ahmedabad ecosystem, backing pre-Series A and Series A companies building defensible intellectual property in areas like healthcare, fintech, AI and energy.
Bharat Innovation Fund is an early-stage vc based in Bengaluru, founded in 2018, investing in India. It backs companies at the Seed and Series A stages, with a focus on Deeptech, Healthcare, Fintech, AI and Energy. It usually leads the rounds it joins.
On fund size, the firm reports $100M deeptech fund (first close 2018–19). Its portfolio includes Entropik, Setu, Detect Technologies, PlayShifu, FireCompass and Riskcovry.
Investment focus
Notable investments
8 of Bharat Innovation Fund’s better-known bets, grouped by sector. Names in coral open the company’s profile or founder story on this site.
Emotion AI
Fintech API
Industrial AI & IoT
Edtech & AR
Cybersecurity
Insurtech
Fintech
Sales AI SaaS
How to pitch Bharat Innovation Fund
Practical pointers drawn from what Bharat Innovation Fund says it backs. Always confirm the current focus and process with the firm before you reach out.
- They invest at Seed and Series A. Approach them when your company is with an early product and first signs of traction, through to companies with clear product-market fit and early revenue.
- Their focus is Deeptech, Healthcare, Fintech, AI and Energy, so lead with why you fit there.
- The strongest way in is a warm introduction, ideally from a founder they have backed, such as Entropik, Setu and Detect Technologies.
- You can find the team and their current focus on their website, linked below.
Partners
Kunal Upadhyay
Co-founder & Managing Partner
Shyam Menon
Co-founder & Managing Partner
Ashwin Raguraman
Co-founder & Partner
Sanjay Jain
Partner
Som Pal Choudhury
Partner
Website & links
Frequently asked questions
- What stage does Bharat Innovation Fund invest at?
- Bharat Innovation Fund invests at the Seed and Series A stages.
- What sectors does Bharat Innovation Fund invest in?
- Bharat Innovation Fund focuses on Deeptech, Healthcare, Fintech, AI, Energy, Agritech and Enterprise software.
- Which companies has Bharat Innovation Fund invested in?
- Notable investments include Entropik, Setu, Detect Technologies, PlayShifu, FireCompass, Riskcovry, CreditVidya and Clodura.AI. See the full list on this page.
- Who are the partners at Bharat Innovation Fund?
- Key people include Kunal Upadhyay (Co-founder & Managing Partner), Shyam Menon (Co-founder & Managing Partner), Ashwin Raguraman (Co-founder & Partner) and Sanjay Jain (Partner).
- Where is Bharat Innovation Fund based?
- Bharat Innovation Fund is headquartered in Bengaluru, with additional offices in Ahmedabad.
- Does Bharat Innovation Fund invest in women founders?
- Bharat Innovation Fund is a generalist fund and backs strong founders regardless of gender, women founders included. For funds with an explicit women-founder mandate, see our women-focused funds list.
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