growX Fund II to Invest in 24 Startups, Targets ₹400 Crore Corpus.

B2B and DeepTech-focused venture capital firm growX Ventures has launched its Fund II with a target corpus of ₹400 crore, aiming to support 20–24 startups over the next two to three years. The firm plans to invest across various stages, with a focus on early-stage and early-growth-stage companies.

growX intends to deploy up to ₹10 crore in Seed rounds, either as a lead or co-lead investor, and invest ₹20–30 crore in Series B rounds.

Ashish Taneja, Founder and CEO of growX Ventures, emphasized that the firm will intensify its focus on the DeepTech and B2B sectors. "We are confident that the next wave of unicorns, building for global markets, will emerge from this space," he said.

In addition to B2B and DeepTech, growX will also invest in sectors such as semiconductors, DefenceTech, SpaceTech, alternative materials, advanced manufacturing, FinTech, HealthTech, and supply chain.

The first close of the second fund is expected by the end of this year.

Beyond capital investment, growX will offer hands-on support to startups, assisting founders in accelerating revenue growth, achieving scalability, and creating sustainable business models.

Founded in 2008, growX has made 46 investments in emerging technologies such as Big Data, AI, drones, SpaceTech, robotics, EVs, genomics, semiconductors, and cybersecurity. Notable portfolio companies include Pixxel, Locus, Progcap, Aereo, Bellatrix Aerospace, Wiom, CynLr, Stashfin, and RACE Energy.

HBL