Mela Ventures
Overview
Mela Ventures is a venture capital firm founded in 2020, focusing primarily on early-stage startups in areas such as artificial intelligence, machine learning, augmented reality, virtual reality, IoT, cloud migration, and deep technologies. Headquartered in Bengaluru, India, the firm was established by industry stalwarts Krishnakumar Natarajan and Parthasarathy NS, who were also co-founders of Mindtree. Mela Ventures has successfully raised Rs 320 crore (approximately $43 million) for its inaugural fund, investing mainly in Indian startups.
Recent Developments
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April 2025: Mela Ventures co-led a $6 million Series A funding round for Optimized Electrotech, a deep-tech company specializing in AI-powered imaging systems. The funding will aid the development of AI imaging solutions for defence and aerospace sectors, aligning with India's strategic goals for self-reliance in critical technologies.
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December 2024: The firm led a $10 million funding round for GalaxEye, a spacetech startup developing high-resolution, multi-sensor imaging satellites. This funding will support the 2025 launch of GalaxEye’s satellite mission, aimed at sectors such as defence, agriculture, and insurance.
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November 2024: Mela Ventures extended its investment portfolio by participating in Series A funding for Mindgrove Technologies, supporting the fabless chip design company with $8 million. Mindgrove focuses on developing RISC-V based System on Chips (SoCs) for applications across various industries.
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October 2024: The firm enhanced its technological advisory capacity by appointing Kalyan Sundar as Head of Finance and Legal, emphasizing a strategic focus on building sustainable business models within its portfolio companies.
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August 2024: Mela Ventures partnered in a $6.5 million funding round for VuNet Systems, a company that specializes in business journey observability platforms. This investment supports VuNet’s ambition to enhance IT infrastructure and customer experience across financial institutions.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2020 |
| Headquarters | Bengaluru, India |
| Founders | Krishnakumar Natarajan, Parthasarathy NS |
| Key Investors | Speciale Invest, 1Crowd, Anicut Capital |
| Industry | Venture Capital |
| Number of Employees | 15 |
Early History
Mela Ventures was founded by Krishnakumar Natarajan and Parthasarathy NS, both co-founders of Mindtree, with a vision to foster next-generation entrepreneurs in India. With comprehensive experience in the Indian IT industry, the duo capitalized on their network and expertise to launch Mela Ventures as a SEBI-approved AIF Category-2 fund. Their initial focus was on filling the gap in early-stage funding for startups in the technology sector. By 2022, the firm successfully closed its first fund with Rs 320 crore, oversubscribed by 1.6 times.
Company Profile and Achievements
Mela Ventures’ business model focuses on early-stage investments primarily in B2B technology startups across sectors like AI/ML, AR/VR, and IoT. The firm has a strategic approach to providing not just capital but also mentorship and support to its portfolio companies through strategic partnerships.
Significant milestones include:
- Successfully raising and deploying Rs 320 crore for early-stage investments.
- Building a diverse portfolio that includes companies like VuNet Systems, GalaxEye, and Mindgrove Technologies.
- Playing an essential role in fostering innovations with broad applications across defense, agriculture, and enterprise SaaS.
Current Operations and Market Position
Mela Ventures maintains a robust operational strategy, making select investments in high-growth potential startups while offering strategic support in sales, technology advisement, and business processes. The firm is recognized for its early and significant support to startups like GalaxEye, which leverages satellite technology for earth observation, and Mindgrove, which focuses on semiconductor innovations.
Mela Ventures holds a competitive advantage through its founders' strong industry connections and a focused approach to emerging technologies, often co-investing with global VC firms. Their portfolio companies have exhibited significant growth, particularly in the tech-enabled enterprise solutions space.
Conclusion
Mela Ventures stands as a pivotal player in the venture capital landscape of India, supporting innovative startups and helping them access necessary resources to achieve sustainable growth. With ongoing investments in strategic sectors, the firm is well-positioned to continue impacting the technology ecosystem in India and potentially globally. Looking forward, Mela Ventures aims to enhance its portfolio's footprint by supporting entrepreneurs that drive technological innovation across various sectors.