One of India’s most active VC firms for the year 2017, Seed stage and early-stage startups investor Blume Ventures is going to raise its third and largest fund worth $80-100 Mn next year. The fundraise is expected to kickstart early 2018 and will be raised by mid-2019. With a ticket size of $500K-$1 Mn, the fund will be used to invest in some 35-45 startups with subsequent follow-ons, as shared by Sanjay Nath, Cofounder, and Managing Partner while speaking to Inc42.
As claimed by Nath, Mumbai-based Blume Ventures currently has 75 active startups in its portfolio. The VC firm is now also looking to launch an incubation programme by next year to increase its engagement with B2B startups.
A Look At Blume Ventures’ Fund I and Fund II Investments
As per the H1 2017 tech startup funding report by Inc42 DataLabs, Blume Ventures was cited as the most active VC fund along with Accel Partners.
Although focussed primarily on tech startups, Blume Ventures’ portfolio is quite diverse and agnostic. The VC has invested in edtech, Robotics, Healthcare, IoT, Big data and analytics, ecommerce, fintech, and logistics among others. Some of its notable investments include Unacademy, GreyOrange Robotics, Tricog, and Zipdial, all of which have impacted the space in their respective market segments.
Tricog is another startup that uses technology to help patients gain access to quick and accurate diagnosis. The startup has come up with affordable ECG devices that can be strategically located at local clinics to help doctors detect patients heart-related issues within minutes. This can be instrumental in a country like India where millions suffer from the heart attack every year. Sanjay Nath says, “This is like a virtual cardiologist. What makes it unique and effective is its algorithm.”