Venture capital firm Shastra VC has announced the launch of a $100 million fund aimed at supporting early-stage startups working in deeptech, artificial intelligence, climate tech, spacetech, defence, and renewable sciences.
Previously known as Veda VC, the firm plans to invest between $500,000 and $3 million in intellectual property-led startups, further strengthening its focus on innovation-driven ventures in India’s rapidly evolving technology ecosystem.
Strong Focus On AI, Space, and Defence Innovation
According to the firm, Fund III will continue supporting deeptech startups while placing sharper emphasis on artificial intelligence, space and defence technologies, and renewable sciences. The new fund will also allow the company to provide extended support to startups beyond initial investments.
The announcement comes at a time when AI startups in India are witnessing increased investor attention amid rising global demand for advanced technologies and automation solutions.
Shastra VC is led by Vasant Rao, Avijeet Alagathi, and Ashis Nayak. Rao and Nayak had previously co-founded Autoninja, which was later acquired by ICICI Lombard, while Alagathi founded BYG, which was acquired by Curefit.
Expanding India’s Deeptech Startup Ecosystem
The venture capital firm claims to have deployed nearly $55 million across its first two funds and currently manages assets worth around $100 million. Its investment portfolio includes startups such as Simplismart, Alt Carbon, Sisir Radar, and Avammune.
Shastra VC has also built an extensive advisory network comprising business leaders, scientific experts, and domain specialists across sectors, including semiconductors, biotech, climate tech, and space sciences. The firm said it is additionally supported by a network of more than 30 technical champions, including founders, researchers, operators, and limited partners.
Industry experts believe the launch of dedicated AI and deeptech-focused funds could further accelerate India’s emergence as a global innovation and startup hub.
