For years, India’s startup boom was driven by consumer internet companies such as food delivery, fintech, insurance, commerce and other digital services that delivered the biggest returns for early backers. Now a shift is underway. As AI, robotics, spacetech, semiconductors and advanced software gain steam, investors are starting to make longer‑term bets on technologies that may take years to mature but could shape the next phase of India’s innovation economy.
That change is visible in Info Edge’s portfolio: the company says it invested over ₹1,003 crore in 54 AI and deeptech startups between 2020 and March 2026, a clear sign of where it expects future value to come from.
Building The Next Investment Layer
In a letter to shareholders, Info Edge said it began investing in AI and deeptech companies around 2020, before artificial intelligence became a mainstream investment theme globally.
The company’s AI portfolio currently includes 28 startups spanning areas such as enterprise AI, voice technologies, automation, and AI-native software products. It has deployed ₹614 crore in these businesses, with the portfolio currently valued at ₹1,268 crore.
Meanwhile, its deeptech portfolio includes 30 companies working across sectors such as robotics, semiconductors, spacetech, electric mobility, biotechnology, and advanced manufacturing. Info Edge has invested ₹455 crore in these ventures, which are currently valued at ₹559 crore.
The company described both portfolios as an early position in technologies that are expected to influence the next decade of innovation.
Looking Beyond The Consumer Internet Playbook
The significance of these investments becomes clearer when viewed against Info Edge’s broader startup portfolio.
The company remains best known for backing some of India’s largest internet businesses, including Eternal (formerly Zomato) and PB Fintech. Consumer technology continues to account for the largest share of its startup investments.
According to the shareholder letter, Info Edge has invested ₹2,755 crore across 45 consumer technology and consumer-AI companies. That portfolio is currently valued at ₹37,214 crore.
The contrast highlights an important shift. While consumer internet remains the largest source of value creation today, the company is increasingly positioning itself around AI-driven opportunities that may generate the next wave of startup outcomes.
The strategy reflects a broader industry trend where investors are attempting to identify infrastructure, platform, and technology companies that can benefit from AI adoption across sectors.
An Early-Mover Approach
Info Edge says its investment philosophy remains rooted in backing founders before a sector becomes crowded. The company noted that it began evaluating AI opportunities before the current surge in investor interest, allowing it to enter at earlier stages and establish relationships with founders before valuations accelerated.
In the shareholder communication, Founder and Executive Vice Chairman Sanjeev Bikhchandani described the firm’s investing approach as identifying exceptional founders early, investing before consensus forms, and remaining invested for longer periods. That patience is particularly relevant in deeptech, where product development cycles are often longer than those in consumer internet businesses.
Many of Info Edge’s deeptech investments were made during the intellectual property creation and research-and-development stages, long before commercial scale became visible.
Government Support Is Beginning To Show Up
Several portfolio companies have also begun benefiting from government-backed innovation initiatives.
Voice AI startup Gnani.ai was selected under the IndiaAI Mission and received government GPU compute credits. Deeptech startups ePlane and Manastu Space secured support under the Research Development and Innovation (RDI) Scheme.
For investors, such developments are important because they indicate growing institutional support for sectors that have historically struggled to attract long-term capital in India.
The combination of private investment and public support could play a critical role in helping AI and deeptech startups scale beyond the experimental stage.
Unlike consumer startups, where adoption metrics often become visible relatively quickly, AI and deeptech businesses usually require longer development timelines and higher technical risk.
Info Edge acknowledged this reality by distinguishing current portfolio valuations from realised returns. The company noted that many of these businesses are still in their growth phase and that meaningful outcomes may take years to emerge.
That caution is notable at a time when AI-related investments globally are attracting heightened attention and increasingly aggressive valuations. Rather than presenting AI as an immediate return engine, the company appears to be positioning it as a long-duration opportunity that requires patient capital.
What This Highlights For India’s Startup Ecosystem
Info Edge’s disclosure is significant not just because of the amount invested, but because it reflects how one of India’s most experienced startup investors is allocating capital. The company has invested nearly ₹4,900 crore across 135 startups to date, with the overall portfolio valued at approximately ₹41,300 crore.
As AI moves from experimentation to deployment across enterprises and industries, investors are increasingly looking beyond consumer applications toward foundational technologies, infrastructure, and specialized platforms.
Whether these AI and deeptech bets ultimately produce the next generation of breakout companies remains to be seen. But the direction is becoming clearer: the future startup story may be driven as much by research, engineering, and intellectual property as it is by consumer adoption and scale.
