The AI ecosystem is flooded with capital. In 2025, over 50% of global venture capital funding went to AI companies, according to Crunchbase data. Last year, Indian AI startups raised $780 million, according to AIM Research, and this figure is expected to rise this year.
But who is funding early-stage AI startups?
While VC companies, including Venture Catalysts, Peak XV Partners, and Blume Ventures, among others, join the cap tables of AI startups early, giving them seed funding, along with mentorship and incubation, a new cohort of investors is joining them, too.
Many seasoned AI entrepreneurs have made a decisive shift: from company-building to capital allocation. AI founders who’ve shipped models, struggled with data moats, dealt with cloud burn, and navigated enterprise adoption cycles are now shaping which AI startups get funded next.
This isn’t a vanity move. It reflects a bigger structural change in how early-stage AI startups are being evaluated, mentored, and funded.
Here are seven Indian AI founders who have joined VC firms as limited partners or are actively investing in AI companiesd as angels.
Aakrit Vaish
Co-founder, Haptik → Co-founder, Activate VC
Aakrit Vaish was among India’s earliest AI entrepreneurs, building Haptik into a leading conversational AI platform before its acquisition by Reliance. His transition into venture capital with Activate VC reflects a full circle—backing founders tackling the same early technical and commercial challenges he once faced.
The $75-million venture fund plans to support AI-led innovation with cheque sizes of $500,000 to $3 million. At the launch of the fund in December this year, Vaish said, “We believe AI in India will be created by technical crack teams. Activate is purpose-built for such founders, engaging with them well before company formation and investing $500K to $3 Mn at inception.”
Pratyush Choudhury
Principal, Together FundPrincipal, Together Fund → Co-founder, Activate VC
Pratyush Choudhury brings a hybrid lens to AI investing—part operator, part ecosystem builder. He worked as a solutions architect at Amazon Web Services and then joined Together Fund as a principal.
He worked as a solutions architect at Amazon Web Services and then joined Together Fund as a principal.
Having worked closely with early-stage founders and funds, he teamed up with Aakrit Vaish to he teamed up with Aakrit Vaish to launch Activate VC. With the fund, With the fund, Choudhury is looking to invest in India’s next generation of AI startups, offering strategic guidance, technical insight, and support networkis looking to invest in India’s next generation of AI startups, offering strategic guidance, technical insight, and support network.
Girish Mathrubootham
Founder, Freshworks → Co-founder, Together Fund
As the founder of Freshworks, Girish Mathrubootham built one of India’s most successful SaaS stories. AtAt Together Fund, he plays anan influential role in backing early-stage startups, many of them increasingly AI-native.
He stepped down as the executive chairman of Freshworks earlier this year to focus on Together Fund. “I believe the world is at the beginning of a new era, and India has the talent and ambition to become a true Product Nation. That is the dream I want to dedicate my energy to,” he stated.
He stepped down as the executive chairman of Freshworks earlier this year to focus on Together Fund. “I believe the world is at the beginning of a new era, and India has the talent and ambition to become a true Product Nation. That is the dream I want to dedicate my energy to,” he stated.
Abhinav Shashank
Founder, Innovaccer → Co-founder, zz21 Ventures
Abhinav Shashank’s journey from building Innovaccer—a healthcare AI and data platform—to investing via zz21 Ventures reflects a deep understanding of regulated, data-heavy industries. As an investor, he backs founders working at the intersection of AI, healthcare, and enterprise systems.
In September 2024, z21 Ventures closed a $20-million first tranche of the second fund. The fund will invest in the pre-seed and seed stages, with a focus on key segments such as artificial intelligence, enterprise software, and healthcare.
In September 2024, z21 Ventures closed a $20-million first tranche of the second fund. The fund will invest in the pre-seed and seed stages, with a focus on key segments such as artificial intelligence, enterprise software, and healthcare.
Manish Maheshwari
Founder, Fanory.ai → General Partner, BAT VC
Manish Maheshwari co-founded Fanory.ai in 2022 as a creator monetisation platform, enabling content creators to build personalised apps and monetise superfans. Earlier, he was the head of Twitter India, and a prominent voice in the Indian tech and entrepreneurial landscape.
At BAT VC, he backs startups across AI, consumer tech, and SaaS, drawing on his experience building and scaling products in competitive markets. In May this year, he announced a $100-million Fund II to focus on startups in AI, fintech, and SaaS, operating across both India and the US.
Natasha Malpani
Former Partner, Kae Capital → Founder, Boundless Ventures
After stepping away from Kae Capital, Natasha Malpani launched Boundless Ventures, a ₹200 crore ($24 million) early-stage fund backing AI-native startups across consumer AI, healthcare, and robotics. It will also focus on autonomous systems and design-led manufacturing.
“Boundless starts with a simple belief: the next decade’s breakout companies won’t “add AI” as a feature. They’ll be AI-native from day one, rethinking consumer products, enterprise workflows, and infrastructure with new primitives. We’ll write the first cheque, and then double down,” she said in a LinkedIn post earlier this year.
The fund has already invested in Superhealth, Armatrix, PierSight, KNOT, and two stealth companies in infra and consumer AI.
Karthikeyan Madathil
Founder, Zymbl → Partner, Yali Capital
Before moving into venture capital, Karthikeyan Madathil founded Zymbl, an ML-powered edtech startup. While Zymbl is no longer operational, the experience gave Madathil firsthand exposure to the realities of building an early-stage company, from product development and customer acquisition to the challenges that ultimately shape founder judgement. He also served eight years as VP of engineering and head of India operations at deep tech company ATONARP.
He now brings those learnings to his role as a partner at Yali Capital, a Chennai-based early-stage fund backing AI, SaaS, and deep tech startups in the early stages of growth. Founded in 2023, the fund focuses on semiconductors, genomics, robotics and AI sectors, with its portfolio including PointAI, LatentForce, and Perceptyne Robotics.
Disclaimer: This list is not a ranking. The individuals mentioned are presented to illustrate a broader trend of AI founders and operators influencing venture capital and investment thinking. The order does not reflect seniority, impact, valuation, or investment performance.
