 "Rahul Agarwalla, SenseAI")
SenseAI Ventures has launched its maiden venture capital fund to invest in companies fostering India’s artificial intelligence ecosystem. The fund, called SenseAI Fund I, has a corpus of Rs 200 crore. The venture capital firm said that this fund launch is underpinned by SenseAI's history, including four notable exits, demonstrating its foresight in the AI domain.
SenseAI Fund I is poised to invest in 18-20 AI-first startups, focusing on seed and Pre-A stage companies. Additionally, the fund plans to make follow-on investments in its most promising portfolio companies. This strategy aligns with SenseAI's commitment to supporting AI-first founders and their innovative solutions, solidifying its role in India's burgeoning AI landscape.
“Our preference for founders is that they are core engineers who can build AI rather than management graduates who can talk about AI. We need builders,” said Rahul Agarwalla, co-founder of SenseAI Ventures, in an interview.
Since 2017, the SenseAI team has distinguished itself not just by its investment choices but by its approach to engaging with founders. The team prioritises understanding the intellectual property in the technology and product at the heart of each startup, reflecting a deep commitment to the core of AI innovation. This unique approach has been a cornerstone in SenseAI's strategy, fostering a 0 per cent failure rate in its portfolio to date.
"We recognize that the journey of an AI-first startup is as challenging as it is transformative,” said Agarwalla. “Our approach is beyond capital; as experienced founders and operators, we offer bespoke support tailored to the unique needs of each AI-first startup. AI is the single largest value-creation opportunity of our lifetimes.”
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To execute on this strategy, Raja Gopalakrishnan, a global CXO with a proven track record of building businesses across various geographies, has joined the firm as General Partner, expanding the leadership team. Gopalakrishnan has extensive experience in leading three successful startups in diverse fields including Data, BPO, and Money Movement as well as over 30 years in finance and tech positions.
"We will continue to build on the foundation of ‘Beyond Capital’ providing more than just funding,” said Raja Gopalakrishnan, general partner, SenseAI. “We offer a partnership that starts with product and technology, fostering a breed of AI startups that are both successful and revolutionary."
As a further catalyst to its strategy, SenseAI has formed a board of advisors comprising industry experts and thought leaders. They will provide strategic guidance and insights to propel SenseAI and its portfolio companies to new heights of success.
In 2011, Agarwalla, along with his friend Tarun Arora, founded Knimbus, a first-of-its-kind niche networking platform to help scientists access content, share findings and connect with peers in real time. They did this after realising that researchers in India had very low access to global knowledge pools. The founders offered researchers a single window through which to access millions of articles, books, and patented material.
