Seed fund · Pre-seed–Series A · Mumbai
India Quotient
Verified by Women Can StartupSnapshot
- Firm type
- Seed fund
- Founded
- 2012
- Headquarters
- Mumbai
- Fund / AUM
- Fund V ~$129M (₹1,132 Cr, 2025); AUM ~$318M
- Typical cheque
- $500K – $2.5M
- Geographies
- India
- Leads rounds
- Yes
- Last updated
- 23 July 2026
About India Quotient
An early, deliberately small-cheque seed firm with an invest-before-it's-obvious bent, happy to back India-first consumer and social products others find too contrarian. It is best known for an early, patient bet on ShareChat.
India Quotient is a seed fund based in Mumbai, founded in 2012, investing in India. It backs companies at the Pre-seed, Seed and Series A stages, with a focus on Consumer, Fintech, Social, Media and Enterprise. Typical cheques run $500K – $2.5M. It usually leads the rounds it joins.
On fund size, the firm reports Fund V ~$129M (₹1,132 Cr, 2025); AUM ~$318M. Its portfolio includes ShareChat, SUGAR Cosmetics, Lendingkart, KuKu FM, Vyapar and GIVA.
Investment focus
Notable investments
8 of India Quotient’s better-known bets, grouped by sector. Names in coral open the company’s profile or founder story on this site.
Social
D2C beauty
Fintech
Audio content
SMB SaaS
D2C jewellery
MarTech SaaS
Local content
How to pitch India Quotient
Practical pointers drawn from what India Quotient says it backs. Always confirm the current focus and process with the firm before you reach out.
- They invest at Pre-seed, Seed and Series A. Approach them when your company is at the idea or pre-product stage, through to companies with clear product-market fit and early revenue.
- Their focus is Consumer, Fintech, Social, Media and Enterprise, so lead with why you fit there.
- Cheques are typically $500K – $2.5M, so size your round and ask accordingly.
- The strongest way in is a warm introduction, ideally from a founder they have backed, such as ShareChat, SUGAR Cosmetics and Lendingkart.
- You can find the team and their current focus on their website, linked below.
Partners
Anand Lunia
Founding Partner
Madhukar Sinha
Founding Partner
Website & links
Frequently asked questions
- What stage does India Quotient invest at?
- India Quotient invests at the Pre-seed, Seed and Series A stages, typically writing cheques of $500K – $2.5M.
- What sectors does India Quotient invest in?
- India Quotient focuses on Consumer, Fintech, Social, Media, Enterprise and B2B marketplaces.
- Which companies has India Quotient invested in?
- Notable investments include ShareChat, SUGAR Cosmetics, Lendingkart, KuKu FM, Vyapar, GIVA, WebEngage and Lokal. See the full list on this page.
- Who are the partners at India Quotient?
- Key people include Anand Lunia (Founding Partner) and Madhukar Sinha (Founding Partner).
- Where is India Quotient based?
- India Quotient is headquartered in Mumbai.
- Does India Quotient invest in women founders?
- India Quotient 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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