Shastra VC Anchors Next Wave of Innovation with $100 Million Deeptech and AI Fund
What is the news?
Venture capital firm Shastra VC has announced the launch of its third fund, a $100 million corpus aimed at early-stage startups pioneering advancements in deeptech, artificial intelligence, climate tech, defence, and space technologies. Formerly operating under the name Veda VC, the firm plans to deploy ticket sizes ranging from $500,000 to $3 million in early-stage, IP-led startups that demonstrate severe potential to scale beyond regional boundaries and solve global challenges.
Why is it interesting?
The fund is structurally engineered to empower the thriving global Indian origin founders community, positioning India as an indispensable knowledge hub for international tech corridors. Shastra VC’s leadership team brings deep domain and operational experience to the portfolio: managing partners Vasant Rao and Ashis Nayak previously co-founded the successful auto-tech platform Autoninja, which was later acquired by ICICI Lombard, while managing partner Avijeet Alagathi founded the fitness platform BYG, which was acquired by Curefit.
With over $55 million already deployed across its first two funds and current assets under management sitting at roughly $100 million, Shastra VC boasts a highly specialized portfolio including Simplismart, Alt Carbon, Sisir Radar, and Avammune. To elevate its Fund III strategy, the firm has established a robust advisory and technical network consisting of prominent industry figures like CP Gurnani and C. Jayaram, alongside 30+ technical champions, research scientists, and international operators. This hands-on ecosystem ensures that its backed startups receive the market-entry strategy and engineering support needed to scale globally.
Read more: Shastra VC launches $100 Mn fund for deeptech and AI startups