19 August 2016, India :
Pi Ventures, an early-stage venture capital firm, is looking to raise Rs 195 crore for its first fund, which will look to finance start-ups in artificial intelligence, machine learning and Internet of Things (IoT) reported Mint.
Pi Ventures believe in finding and supporting the best entrepreneurs across the world that are using Artificial Intelligence, Machine Learning and IoT (Internet of things) to solve real world problems.
“We are raising commitments from both domestic as well as overseas investors. Typically, we would like to be the first institutional investors in these start-ups. We are entrepreneurs first and would like to work with the company early on, whether at the idea stage or product market fit stage,” said Singhal, founding partner of Pi Ventures.
Pi is an early stage investors focusing on disruptive ventures, solving real world problems, that can turn into category leaders through Applied AI.
“There is a lot of data that we are generating today and the computation power to churn this data is available today. Also we see a lot of willingness of businesses to adopt these new solutions to grow their businesses and run them more efficiently. On top of all of this, today, you have a lot of talent available in these fields,” said Singhal, adding that all these factors had ensured the emergence of a large number of start-ups in these fields.
The fund will look to invest in around 20 start-ups, making very early-stage bets in companies and follow-on investments till the series A stage, added Singhal.