homevideos Newsstartup NewsAlphatron Capital closes its first fund at $30 million, eyes investment in diverse tech sectors in India
Alphatron Capital closes its first fund at $30 million, eyes investment in diverse tech sectors in India
US-based venture capital firm, Alphatron Capital formerly known as SMK Ventures has announced the closing of its first fund. The fund has been oversubscribed by 20%, closing at $30 million, as against the initial target of $25 million. The fund aims to provide access to a diversified pool of India’s technology and tech-leveraged companies while minimising entry barriers for US investors.
Alphatron Capital, previously known as SMK Ventures, a prominent venture capital firm based in the United States, has recently announced the successful closure of its inaugural fund. The fund, initially targeted at $25 million, witnessed overwhelming interest from investors, surpassing expectations by 20% and closing at an impressive $30 million.
According to Vishwesh Pai, Founding Partner at Alphatron Capital, the firm has already commenced deploying capital from the fund, with investments made in two promising startups. One of the notable investments includes Pixel, a cutting-edge space technology company with operations spanning across India and the United States. Additionally, Alphatron Capital has backed a promising Indian fintech startup.
Pai revealed that the firm is poised to expand its portfolio with over eight direct investments across diverse technology sectors in India. The primary objective of Alphatron Capital's fund is to provide American investors with access to a diverse array of India's burgeoning technology and technology-enabled companies while streamlining entry barriers.
Pai further elaborated on the firm's investment thesis, highlighting a bullish outlook on Software as a Service (SaaS), particularly those incorporating Artificial Intelligence and Machine Learning (AI/ML) technologies. Additionally, Alphatron Capital is keen on the fintech sector in India, recognising its immense potential for growth. Other sectors of interest include health technology, digital content, and direct-to-consumer (D2C) ventures.
In a separate development within the startup ecosystem, sustainability-focused platform TapFin recently secured $4 million in a seed funding round led by Elevar Equity.
Co-founded by Terniza Berry, TapFin aims to offer a comprehensive suite of services, including financing and insurance, to startups and Micro, Small, and Medium Enterprises (MSMEs) operating within the sustainability domain.
In an interview with CNBC-TV18, Berry emphasised TapFin's commitment to becoming India's premier sustainability platform. The capital infusion will be instrumental in bolstering the platform's technological infrastructure and data capabilities, expanding market presence, and attracting top talent aligned with TapFin's vision, Berry added.
Established in 2023, TapFin not only facilitates financial and insurance solutions but also endeavours to foster an ecosystem among sustainability-focused enterprises. This ecosystem aims to facilitate demand aggregation, foster market linkages, and offer value-added services, thereby nurturing a thriving sustainability landscape in India.
Furthermore, Biggies Burger, a prominent Quick-Service Restaurant (QSR) startup, recently announced its pre-Series A funding round at a valuation of Rs 210 crore. With ambitious plans for exponential revenue growth by FY26, the company is poised to secure its first complete round of funding by June. Jude Sannith does a deep dive into Beamer Brands, which owns the Biggies Burger chain, and finds out how the company is adding a touch of local spice to American fast food.
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