Venture capital hunts for the next big consumer AI winner

Funds like Stellaris, Bessemer are actively scouting for Al-first consumer tech across sectors

- Rwit Ghosh

VCs shift focus to consumer AI, led by strong IPO debuts, steady investor appetite for Indian consumer tech firms.

(AFP)

The recent success of several consumer technology companies in public markets has prompted Indian venture capital funds to back the next wave—startups using artificial intelligence (AI) to build products.

Several companies have picked up early-stage cheques this year. In August, AI-powered entertainment company Dashverse raised $13 million from Peak XV, with participation from Stellaris and 247. Audio and video content platform Kuku FM raised $85 million from Granite Asia in October. Former Housing.com chief executive Jason Kothari's startup Mythik also received $15 million in May from Sakal Media Group, VC Grid, Viscera Capital as well as Shah Rukh Khan's family office. And that's just content-generation as a space.