GrowX Ventures
Overview
GrowX Ventures is a Delhi-based venture capital firm focused on investing in early-stage startups. Founded in 2008, GrowX primarily targets the deep tech and B2B sectors, supporting startups with innovative solutions across fields such as enterprise SaaS, fintech, aerospace, and more. The firm has built a reputation for investments in groundbreaking technologies like space technology and artificial intelligence. As of 2025, GrowX Ventures has a portfolio of over 70 investments and manages funds with a focus on early-stage and growth-stage opportunities.
Recent Developments
- August 2025: GrowX Ventures led a $1 million seed funding round for the biotech startup PeelON, specializing in compostable packaging solutions. PeelON uses the funds to expand R&D and production facilities in Visakhapatnam and scale operations in the US and India.
- July 2025: The defense tech startup Armory, which focuses on counter-drone technology, raised Rs 13 crore in funding led by GrowX. This move aligns with India's focus on indigenous defense technology amidst growing global security challenges.
- May 2025: GrowX Ventures announced a significant partial exit from Pixxel, a space tech company, realizing a 17x return on its initial investment. This move underscores GrowX's strategic focus on promising tech sectors.
- December 2024: Launched its second fund with a target corpus of Rs 400 crore (~$47 million). The fund aims to support early-stage startups, particularly in healthtech and advanced manufacturing.
- September 2024: Mental health platform Lissun raised $2.5 million in a funding round led by GrowX, illustrating its commitment to supporting diverse sectors within the Indian startup ecosystem.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2008 |
| Headquarters | New Delhi, India |
| Founders | Ashish Taneja (Founding Partner) |
| Revenue | Not publicly disclosed |
| Profits | Not publicly disclosed |
| Key Investors | Various including GIC, Google |
| Industry | Venture Capital |
| Number of Employees | ~15 |
Early History
GrowX Ventures started in 2008 as a 'management capital' firm aiming to support creative entrepreneurs. Initially involved in consumer sectors, the firm refined its focus towards business-to-business (B2B) and deep tech sectors over time. By 2012, GrowX had started making its first investments in the alternative data space, a bold move that led to successful outcomes like the acquisition of Quandl by NASDAQ. By 2018, GrowX had launched its inaugural regulated fund, which improved its ability to back deep tech ventures.
Company Profile and Achievements
GrowX Ventures operates with a philosophy centered on empowering innovative, high-impact startups across emerging tech sectors. The firm has a diverse investment portfolio spanning over 70 companies in areas like space technology, fintech, healthtech, and enterprise software.
- Investment Focus: GrowX prioritizes early-stage investments in B2B and deep tech sectors, showing a strong inclination towards startups with disruptive potential.
- Fund I (2019): Established as a $25 million fund, it supported 17 startups, achieving notable returns from various exits, including the partial exit from Pixxel.
- Fund II (2024): Announced with a Rs 400 crore target, aiming to invest in 20-24 startups with a focus on sectors like semiconductors, defense tech, and spacetech.
- Notable Investments: Includes companies like Bellatrix Aerospace (space mobility) and Locus (AI-driven logistics), indicating GrowX's strategic investment decisions across a wide tech spectrum.
Current Operations and Market Position
GrowX Ventures continues to strengthen its position as a leading investor in India's burgeoning startup ecosystem. It maintains a keen focus on deep tech sectors, leveraging ongoing trends in AI, cybersecurity, and space technology. GrowX’s market position is reinforced by its collaborative approach to investment and strong partnerships with global tech entities aimed at fostering innovation in India and beyond.
Conclusion
GrowX Ventures holds a pivotal role in financing India’s tech startups, particularly in challenging domains like deep tech and B2B markets. With a track record of successful investments and a strategic focus on cutting-edge technologies, GrowX is poised to drive significant advancements in both the domestic and international tech landscape. Looking ahead, GrowX Ventures is expected to continue its trajectory of supporting transformative startups and potentially creating sector-first unicorns in the deep tech space.