Speciale Invest funding
Speciale Invest is a Bengaluru-based early-stage investor which invests in seed-stage startups. It announced on Friday that it has raised Rs 140 crore in its second fund.
The firm stated that the second fund outperformed its target and gained backing from the limited partners of its first fund. Speciale Invest was founded by Vishesh Rajaram and Arjun Rao in 2017 and rolled out its first fund of Rs 60 crore in 2018. The firm invests in deep tech and frontier technology startups with capital up to $0.5 million in each startup.
Speciale Invest invested in 14 startups across fields of enterprise software, SaaS, and frontier technologies in the first fund.
With this second fund, the startup is planning to invest in 18-20 startups in the same areas as in the first fund.
Vishesh Rajaram, Managing Partner, Speciale Invest stated the second fund will additionally enable the firm to invest in follow-on funding of high-performing startups in its portfolio.
The company’s portfolio comprises enterprise software companies iAuro, Wingman, Scapic, True Lark, TotalCloud, and Pocket52, and hardware startups such as The ePlane Company, Astrogate Labs, Agnikul, and Kawa Space.
Speaking on the development, Vishesh said, “The oversubscribed round of funding and interest in our subsequent round demonstrates the support of our investors in our team in creating a long-standing venture institution.”
Speciale has also funded startups in the space, robotics, electric vehicles, etc., sectors. With the recent fund, it plans to cover newer sectors, including photonics and alternative energy, in its portfolio.
Arjun Rao, General Partner, Speciale Invest, said, “We take the learnings and progress from the first fund portfolio as motivation to double down on our core deep tech thesis, and strive harder to explore newer areas of tech and science-led disruption.”
“The new development for Speciale Invest will boost the growth of several emerging startups especially considering the severe impact of the pandemic.”Shishir Gupta, Founder and CEO, StartupLanes
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