ValleyNXT Ventures has launched Bharat Breakthrough Fund–I, a SEBI-registered Category I venture capital fund. Separately, HomeRun has raised around $6.6 million (Rs 60 crore) in its Series A funding round led by Sorin Investments.
ValleyNXT fund to back deeptech startups
ValleyNXT Ventures, an early-stage venture capital and accelerator firm, has launched Bharat Breakthrough Fund-I, a SEBI-registered Category I venture capital fund.
Breakthrough Fund-I is targeting a base corpus of Rs 200 crore, with a greenshoe option of an additional Rs 200 crore, taking the total potential fund size to Rs 400 crore.
The fund aims at supporting seed to pre-Series A startups, with a focus on sectors including space, defence technology, robotics, artificial intelligence and machine learning, cybersecurity, biotechnology, sustainability, and consumer innovation.
ValleyNXT Ventures claims to have evaluated over 5,000 deals and backed more than 10 early-stage ventures through its angel network and accelerator-led investment approach.
The fund’s leadership team includes Nikhil Agarwal as founder and advisor; Madhu Vasepalli as founder and managing partner; CA Anand Saklecha as founder and head of investment committee; and Suresh Goyal as partner for fund management.
HomeRun raises $6.6m Series A round
HomeRun, an on-demand platform for construction and interior materials, has raised around $6.6 million (Rs 60 crore) in its Series A funding round led by Sorin Investments.
Sorin Investments invested Rs 40 crore in the round.
The round also saw participation from Titan Capital Winners Fund, Sparrow Capital, Consumer Collective by Atrium, and Helios Holdings.
HomeRun will use the funds to expand product categories, scale dark-store infrastructure, strengthen sourcing and supply-chain capabilities, and invest in technology to improve fulfilment reliability and unit economics.
Last November, the company had raised Rs 9 crore in a seed round led by Titan Capital and Sparrow Capital, with participation from Consumer Collective by Atrium, Anupam Mittal, Abhishek Goyal of Tracxn, Suraj Nalin of PlaySimple, and Raj Sheth and Gautam Shewakramani of Inuka Capital.
