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September, 2025 |
This edition of IAN Prism covers the first 8 months of 2025 :
Innovations, Investments, and Exits!
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India has put a strong lens on Deeptech, both by the government and by entrepreneurs! IAN is seeing strong technology propositions led by domain experts, resulting in exciting investments!
Investments: IAN backed founders across Deeptech, AI, Spacetech, Biotech, Healthtech, and Consumer sectors with over ₹113 crores invested. Nearly 60% of these were in Deeptech and AI, the sectors set to define the next decade! Exits: IAN returned close to ₹123 crores on investments of about ₹16.6 crores, delivering a MOIC of 7.4x!
Padmaja Ruparel, Co-Founder, IAN Group |
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| Exits remain at the core of IAN’s journey. In recent months, both the IAN Angel Fund and IAN Fund 1 have delivered strong outcomes, including a return of 88x, which truly reflects the quality of founders backed by IAN Group.
IAN has taken some money off the table with these exits but continues to hold shares, reflecting confidence in further value creation. |
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Backing the Best of the Next
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IAN continues to invest in the best of the next, with a sharp focus on Deeptech. This includes Spacetech, Biotech, Healthtech, Agritech, Medtech, and Advanced Manufacturing. The next wave of opportunities is already opening up in Semiconductors and Quantum.
Further, IAN has enabled significant non-dilutive capital through grants and debt, giving its portfolio companies a longer runway of cash.
IAN Fund 1
~₹4,200 crores raised by portfolio companies (almost 14x), with 12 of them each raising over ₹100 crores! Non-dilutive capital of > ₹200 crores unlocked! IAN Alpha Fund
IAN Angel Fund + Network
₹50 crores invested, with another ₹47 crores from co-investors. Against an investment of ₹11 crores from IAN, ₹298 crores were raised in subsequent rounds.
Over the last 8 months, ~ 60% of IAN’s fund portfolio has been in Deeptech and AI, which are driving India’s future.
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New Rounds |
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Follow-on-Rounds |
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Spotlight on IAN & Leadership |
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IAN Group signed an MoU with SIDBI to support India’s most promising startups and MSMEs, unlocking faster access to capital, mentorship and growth opportunities for entrepreneurs across Bharat. |
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Padmaja Ruparel, Co-Founder - IAN Group, was featured in the 2025 Hurun India Candere Women Leaders List, which honors women transforming India’s business and innovation landscape. |
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Key Media |
IAN leaders were covered in top articles and spotlighted in videos, sparking conversations on India’s Deeptech potential and fueling prime-time discussions, reflecting IAN’s unwavering commitment to growth and innovation. |
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Saurabh Srivastava and Ajai Chowdhry joined Shereen Bhan on CNBC-TV18 to discuss India’s innovation roadmap with the launch of the ₹1 lakh crore RDI Scheme.
Watch Here |
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The Week magazine covered Saurabh Srivastava and Padmaja Ruparel, highlighting India’s potential to lead in Deeptech innovation and the need for capital, mentorship, and policy support to build world-class companies. Read here |
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In an article in Economic Times Government, Ajai Chowdhry stressed the urgency for India to achieve semiconductor independence and highlighted the need for multiple fabs, stronger domestic chip design IP, and collaboration with trusted Asian partners. Read here
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In an exclusive interview with Business Standard, Padmaja Ruparel shared insights on the brain drain of Indian talent, especially in Deeptech and AI, and emphasized the urgency of creating an enabling environment for them to thrive in India. Read here |
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