Seafund
| Private | |
| ISIN | 🆔 |
| Industry | Venture capital |
| Founded 📆 | 2016 |
| Founders 👔 | Manoj Agarwal; Mayuresh Raut; Narendra Bhandari |
| Headquarters 🏙️ | Bengaluru, Karnataka, India |
Area served 🗺️ | |
Key people | Manoj Agarwal (Managing Partner)
Mayuresh Raut (Managing Partner)Narendra Bhandari (Managing Partner) |
| Products 📟 | Venture-capital investments |
| 💎 AUM | ₹25 crore (Fund I); target ₹200 crore (Fund II) |
| Members | |
Number of employees | |
| 🌐 Website | seafund |
| 📇 Address | |
| 📞 telephone | |
Seafund Venture India Trust (Seafund) is an Indian venture-capital firm based in Bengaluru that invests in early-stage deep-tech and technology-driven startups. It is registered with the Securities and Exchange Board of India (SEBI) as a Category II alternative investment fund (AIF).[1]
History
Seafund was founded in 2016 by Manoj Agarwal, Mayuresh Raut and former Intel executive Narendra Bhandari.[2] The firm raised a ₹25 crore micro-fund in 2017 and began deploying capital in 2018 (Fund I).[2] A second vehicle, Fund II, held a first close of ₹30 crore in 2022 and is targeting a final corpus of ₹200 crore (plus a ₹50 crore green-shoe).[1]
Funds
| Fund | Vintage | Corpus | Investments (to date) | Notable exit(s) |
|---|---|---|---|---|
| Fund I | 2018–2022 | ₹25 crore | 14 | Wigzo (acquired by Shiprocket 2022)[3] |
| Fund II | 2023 – | Target ₹200 crore | 10 | – (portfolio in growth phase)[1] |
Investment strategy
Seafund backs seed and pre-Series A companies building core technologies in:[2]
- artificial intelligence and data science
- robotics & industrial automation
- space and satellite technology
- clean mobility and battery systems
- semiconductor design and advanced hardware
- enterprise SaaS
Typical initial cheques range from about ₹2 crore to ₹4 crore,[2] and over half of each fund is reserved for follow-on rounds.[1]
Selected portfolio companies
- Redwing Labs – autonomous drone logistics for healthcare deliveries[1]
- TakeMe2Space – satellite subsystems and “orbital AI lab” platforms[1]
- Calligo Technologies – energy-efficient AI processor architectures using Posit arithmetic[1]
- Genrobotics – sanitation and agricultural robotics; creator of the Bandicoot sewer robot[2]
Ecosystem involvement
Seafund’s partners mentor programmes run by the NASSCOM DeepTech Club, the IndiaAI initiative and the India Electronics & Semiconductor Association (IESA).[4] They also contribute to policy round-tables on early-stage deep-tech funding.
Industry context
A 2025 NASSCOM report estimated that Indian deep-tech startups raised US$1.6 billion in 2024—up 78 % year-on-year.[5] Business media cite Seafund as one of the few domestic VCs dedicated to backing such companies from inception.[1][2]
See also
References
- ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 Srivastav, Udisha (4 June 2025). "VC firm Seafund eyes up to 25 deep-tech investments, aims for follow-up too". Business Standard. Retrieved 2 August 2025.
- ↑ 2.0 2.1 2.2 2.3 2.4 2.5 Sangwan, Minakshi (30 July 2024). "Seafund: Empowering Founders with Capital, Networks, and Dedication". Entrepreneur India. Retrieved 2 August 2025.
- ↑ "Zomato-backed Shiprocket to acquire 75 % stake in Wigzo Tech". The Economic Times. 7 January 2022. Retrieved 2 August 2025.
- ↑ "NASSCOM Public-Policy Highlights: DeepTech Fund Round-table (mentions SEA Fund)". NASSCOM. May 2025. Retrieved 2 August 2025.
- ↑ "India's DeepTech Dream Needs More than Funding". Entrepreneur India. 4 April 2025. Retrieved 2 August 2025.
External links
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