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SenseAI Ventures rolls out maiden venture capital fund to back AI startups

By K Amoghavarsha

  • 05 Dec 2023
SenseAI Ventures rolls out maiden venture capital fund to back AI startups
Rahul Agarwalla, co-founder, SenseAI Ventures | Credit: SenseAI/LinkedIn

SenseAI Ventures said Tuesday it has launched its maiden venture capital fund to invest in startups working on artificial intelligence (AI) technologies.  

The fund has a target corpus of Rs 200 crore ($25 million), the VC firm said. 

SenseAI aims to invest in 18-20 AI-first startups, in the seed to pre-Series A stages. It would look for startups that lay emphasis on intellectual property in technology and products.  

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“Our approach is beyond capital; as experienced founders and operators we offer support tailored to the needs of each AI-first startup,” said Rahul Agarwalla, co-founder, SenseAI Ventures.   

In an interaction with VCCircle, Agarwalla said the firm aims to write first cheques of $500,000 to $1 million. For follow-on investments, it plans to invest around $2 million on average.  

Additionally, the firm has brought on board Raja Gopalakrishnan as General Partner for the fund.  

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“We will continue to build on the foundation of ‘Beyond Capital’ providing more than just funding. We offer a partnership that starts with product and technology, developing AI startups that are both successful and revolutionary,” said Gopalakrishnan.  

Established in 2017, SenseAI Ventures is an AI-focused investment firm. Prior to the launch of the fund, the firm invested in 12 startups in the areas of AI software-as-a-service (SaaS), AI business-to-consumer (B2C) and AI tools, through a syndicate fund.   

Its portfolio startups include consumer healthcare startup CureSkin, corporate management platform Tripeur and Jovian, a startup that helps data scientists to track and reproduce machine learning experiments.  

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It has exited four of its portfolio startups and claims to have clocked a 40% internal rate of return (IRR). 

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