Try GOLD - Free
Investors earmark ₹25,000 cr for AI
Financial Express Mumbai
|March 20, 2024
VENTURE CAPITAL FIRMS such as Accel, Bessemer Venture Partners, BoldCap, IvyCap Ventures, and Indian Angel Network, are looking to double down on their investments in artificial intelligence (AI) startups, lining up an overall fund of nearly ₹25,000 crore over the next few years.
While the broader funds announced by some investors are sector agnostic, with a focus on specific areas such as AI for services, AI in vertical software, hyper-automation, domain-specific large language models (LLMs), and generative AI, most investors such as Accel and Bessemer, have a dedicated AI fund.
"We have a dedicated $1 billion fund for AI investments. Our focus is across categories - enterprises and general use cases," said Vatsalya Tandon, investor at Bessemer Venture Partners.
This story is from the March 20, 2024 edition of Financial Express Mumbai.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Financial Express Mumbai
Financial Express Mumbai
Flashing the right card pays on your foreign trip
LOWER FOREX MARKUPS, HIGHER REWARDS ON OVERSEAS SPENDS AMONG BENEFITS
1 mins
June 29, 2026
Financial Express Mumbai
PM-JAY free hospital care surpasses ₹1.56 lakh cr
FREE HOSPITAL CARE worth over 1.56 lakh crore has been provided to beneficiaries under the Pradhan Mantri Jan Arogya Yojana (PM-JAY), which offers targeted beneficiary families health insurance cover of up to 5 lakh a year since its rollout in September 2018.
1 min
June 29, 2026
Financial Express Mumbai
Brands race to crack the AI discovery code
EVERY TIME A shopper asks ChatGPT which running shoe to buy, Gemini to recommend a frozen meal, or Claude to suggest a skincare product, an invisible battle is playing out among brands.
3 mins
June 29, 2026
Financial Express Mumbai
Hope returns to Mumbai's Juhu Galli, so does caution
After decades of failed promises, Reliance's entry has revived hope—but not erased scepticism
4 mins
June 29, 2026
Financial Express Mumbai
'Recast of retail book in 6-8 months'
STANDARD CHARTERED BANK'S MD & CEO P D Singh said the bank's ongoing shift away from mass retail lending is driven by the need to build a stronger, more focused proposition and that the transformation will be largely complete within six to eight months.
1 min
June 29, 2026
Financial Express Mumbai
Stick or twist? It's time to change course
BECAUSE ART is inherently subjective, events like the Cannes Lions International Festival of Creativity are notoriously unpredictable and should not define the true worth of a country’s creative output.
3 mins
June 29, 2026
Financial Express Mumbai
Fresh attacks by US, Iran threaten interim deal
THE US AND Iran traded attacks targeting each other's military infrastructure, signalling no let up in several days of escalation that are straining a ceasefire underpinning peace talks.
2 mins
June 29, 2026
Financial Express Mumbai
Banks feel the pinch amid FCNR push
“DOMESTIC DEPOSIT RATES will act as a ceiling. Banks will also have to assess how effectively they can deploy these foreign currency funds into the domestic credit market through rupee lending,” said a banker at a state-run lender.
1 mins
June 29, 2026
Financial Express Mumbai
Moving people to moving AI
OPENAI’S INDIA HIRE SIGNALS THAT THE RACE IS SHIFTING FROM BUILDING MODELS TO BUILDING MARKETS
3 mins
June 29, 2026
Financial Express Mumbai
As GST turns 10, focus shifts to AI-driven compliance, faster refunds, data sharing
AS INDIA ENTERS the tenth year of rollout of the Goods and Services Tax (GST), the focus is shifting from implementation to efficiency through use of artificial intelligence (AI), data sharing and process simplification to reduce compliance costs, speed up refunds and tighten enforcement.
1 min
June 29, 2026
Listen
Translate
Change font size