The AI ecosystem is awash with capital. In 2025, more than 50% of global venture capital funding went to AI companies, according to data from Crunchbase. Last year, Indian AI startups raised $780 million, according to AIM Research, and that figure is expected to rise this year.
But who funds early-stage AI startups?
As venture capital firms including Venture Catalysts, Peak
Many seasoned AI entrepreneurs have made a pivotal shift: from starting a business to allocating capital. AI founders who delivered models, battled data divides, managed cloud burning, and navigated enterprise adoption cycles are now determining which AI startups get funded next.
This is not a gesture of vanity. This reflects a larger structural shift in how early-stage AI startups are evaluated, mentored, and funded.
Here are seven Indian AI founders who have joined venture capital firms as limited partners or are actively investing in AI companies as angel investors.
Aakrit Vaish
Co-founder, Haptik → Co-founder, Activate VC
Aakrit Vaish was one of India’s first AI entrepreneurs, building Haptik into a leading conversational AI platform before its acquisition by Reliance. His transition into venture capital with Activate VC reflects a full circle: supporting founders tackling the same early technical and business challenges he once faced.
The $75 million venture fund plans to support AI-driven innovation with checks ranging from $500,000 to $3 million. At the launch of the fund in December this year, Vaish said, “We believe that AI in India will be created by cutting-edge technical teams. Activate is specifically designed for these founders, engaging with them well before the company is founded and investing between $500,000 and $3 million at the start.”
Pratyush Choudhury
Director, Together FundPrincipal, Together Fund → Co-founder, Activate VC
Pratyush Choudhury brings a hybrid perspective to AI investing: part operator, part ecosystem builder. He worked as a solutions architect at Amazon Web Services and then joined Together Fund as a director.
He worked as a solutions architect at Amazon Web Services and then joined Together Fund as a director.
After working closely with founders and early-stage funds, he partnered with Aakrit Vaish to launch Activate VC. With this fund, Choudhury seeks to invest in India’s next generation of AI startups, offering strategic advice, technical insights and a support network.
Girish Mathrubootham
Founder, Freshworks → Co-founder, Together Fund
As the founder of Freshworks, Girish Mathrubootham has built one of India’s most successful SaaS stories. At At Together Fund, he plays an influential role in supporting early-stage startups, many of which are increasingly AI-native.
He left his role as executive chairman of Freshworks earlier this year to focus on Together Fund. “I believe the world is at the start of a new era and India has the talent and ambition to become a true commodity nation. This is the dream I want to devote my energy to,” he said.
He left his role as executive chairman of Freshworks earlier this year to focus on Together Fund. “I believe the world is at the start of a new era and India has the talent and ambition to become a true commodity nation. This is the dream I want to devote my energy to,” he said.
Abhinav Shashank
Founder, Innovaccer → Co-founder, zz21 Ventures
Abhinav Shashank’s journey from founding Innovaccer, a healthcare AI and data platform, to investing through zz21 Ventures, reflects a deep understanding of regulated and data-intensive industries. As an investor, he supports founders working at the intersection of AI, healthcare, and enterprise systems.
In September 2024, z21 Ventures closed a $20 million first tranche of the second fund. The fund will invest in pre-seed and seed stages, with a focus on key segments such as artificial intelligence, enterprise software and healthcare.
In September 2024, z21 Ventures closed a $20 million first tranche of the second fund. The fund will invest in pre-seed and seed stages, with a focus on key segments such as artificial intelligence, enterprise software and healthcare.
Manish Maheshwari
Founder, Fanory.ai → General Partner, BAT VC
Manish Maheshwari co-founded Fanory.ai in 2022 as a creator monetization platform, enabling content creators to build custom apps and monetize superfans. Previously, he was the head of Twitter India and a prominent voice in the Indian technology and entrepreneurial landscape.
At BAT VC, he supports startups in AI, consumer technology, and SaaS, leveraging his experience building and scaling products in competitive markets. In May this year, it announced a $100 million Fund II for startups in the areas of AI, fintech and SaaS, operating in India and the US.
Natacha Malpani
Former Partner, Kae Capital → Founder, Boundless Ventures
After leaving Kae Capital, Natasha Malpani launched Boundless Ventures, a ₹200 crore ($24 million) seed fund supporting AI-native startups in the areas of consumer AI, healthcare and robotics. It will also focus on autonomous systems and design-led manufacturing.
“Boundless starts from a simple belief: The big companies of the next decade won’t add AI as a feature. They will be AI native from day one, rethinking consumer products, enterprise workflows, and infrastructure with new primitives. We’ll write the first check, then double down,” she said in a LinkedIn post earlier this year.
The fund has already invested in Superhealth, Armatrix, PierSight, KNOT and two stealth companies in the infra and consumer AI space.
Karthikeyan Madathil
Founder, Zymbl → Partner, Yali Capital
Before venturing into venture capital, Karthikeyan Madathil founded Zymbl, an ML-powered edtech startup. Although Zymbl is no longer operational, the experience gave Madathil first-hand exposure to the realities of building an early-stage business, from product development and customer acquisition to the challenges that ultimately shape a founder’s judgment. He also served for eight years as Vice President of Engineering and Head of India Operations at deep technology company ATONARP.
He now puts this knowledge to use in his role as an associate at Yali Capital, a Chennai-based early-stage fund that supports AI, SaaS and deep tech startups in early stages of growth. Founded in 2023, the fund focuses on the semiconductor, genomics, robotics and AI sectors, with its portfolio including PointAI, LatentForce and Perceptyne Robotics.
Disclaimer: This list is not a ranking. The individuals mentioned are featured to illustrate a broader trend of AI founders and operators influencing thinking about venture capital and investing. The order does not reflect the age, impact, valuation or performance of the investments.