India-focused Venture Capital firm Good Capital announced a $50 million fund to invest in tech start-ups which are leveraging AI for distribution, personalisation or business operations.
Good Capital will be deploying the seed-stage fund with target of up to $1.5 million over the next 4 years.
Good Capital is an early investor in unicorns such as Meesho and LEAD School.
“Integrating AI is now table stakes for any startup. Much like the platform shift to mobile in the past, the success of tech businesses will depend on how they leverage AI,” said Good Capital co-general partner Arjun Malhotra.
The company made investments in firms such as OrangeHealth which raised Series A funding from General Catalyst and Accel Partners, SimSim which was acquired by Google, and SolarSquare which raised a $13mn Series A funding led by Lowercarbon and Elevation Capital.
Shreya Mishra, CEO and co-founder of SolarSquare, said that Good Capital has been instrumental in its growth “by first leading our Seed round and then introducing us to Lowercarbon Capital who led our Series A round.”
Vidit Aatrey, CEO and co-founder of Meesho, said that the VC fund worked with them “through several iterations of what eventually became Meesho’s business model and played a role in guiding us and helping us with challenges.”
