# Bharat Innovation Fund

> Bharat Innovation Fund is a VC fund backing Machine Learning. See 28 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: Ahmedabad, India
- Total investments: 28
- Last investment: Jun 2026
- Lead investor: 39%
- Fund size: $100M
- Last fund: Jul 2018
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/bharat-innovation-fund/
- Website: http://bharat.fund/

Bharat Innovation Fund is a VC fund in Ahmedabad focused on Machine Learning and Information Technology. They believe India, that is Bharat, and its transformational entrepreneurs are producing globally competitive and disruptive solutions for some of the toughest challenges. Their ventures can be game-changers not only in the Indian context - but emerge as dominant leaders globally.Through their early-stage capital, unparalleled networks, strategicinsights and operational hand-holding, they can significantly de-risk the process of conversion of these ideas into companies of consequence.

## Contacts

5 contacts available for Bharat Innovation Fund. Shizune tracks 4 team members at Bharat Innovation Fund. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/bharat-innovation-fund?utm_source=investor_profile

## Round sizes

| Stage | Round size |
| --- | --- |
| Seed | $1.1M–$3M |
| Series A | $2.9M–$8M |
| Series B | $3M–$28M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Machine Learning | 6 | 21% |
| Information Technology | 6 | 21% |
| SaaS | 5 | 18% |
| Artificial Intelligence | 4 | 14% |
| Big Data | 3 | 11% |

42 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Seed | 8 | 29% |
| Series A | 8 | 29% |
| Series B | 6 | 21% |
| Venture - Series Unknown | 3 | 11% |

### Country

| Country | Investments | Share |
| --- | --- | --- |
| India | 16 | 57% |
| United States | 3 | 11% |

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Ashwin Raguraman | Founding Partner | 11 | https://shizune.co/investors/profile/ashwin-raguraman |
| Kunal Upadhyay | Managing Partner | 1 | https://shizune.co/investors/profile/kunal-upadhyay |
| Saras Agarwal | Principal | 3 | https://shizune.co/investors/profile/saras-agarwal |
| Shyam Menon | Partner & Co-founder | 1 | https://shizune.co/investors/profile/shyam-menon |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Zumutor Biologics | Zumutor is a leading Immuno-Oncology company in the space of targeted NK cell therapeutics. They have two proprietary Antibody Engineering Platforms to develop novel immunotherapies that target innate immunity and regulate the tumor microenvironment. | $7.3M | Series B | Jun 13, 2026 |  |
| Clodura.AI | clodura.AI is a sales engagement platform. | $2M | Seed | Jun 06, 2024 |  |
| Portl | Portl is a digital platform that combines advanced sensors & proprietary fitness technologies with AI to create Holistic Health solutions for consumers and athletes. | $3M | Seed | May 23, 2024 |  |
| ClaimBuddy | ClaimBuddy acts as one-stop solutions for Health Insurance Claim assistance for Patients and Hospitals. ClaimBuddy are building an ecosystem to ensure Hassle-free insurance claims by leveraging technology, and a set of simple yet powerful processes and operations. | $5M | Series A | Apr 12, 2024 |  |
| Play Shifu | PlayShifu is an EdTech startup that offers teaching and learning tools for children 4 to 12 years of age. Shifu creates an innovative and immersive learning experience during playtime by bringing board games and mobile devices together through Augmented Reality. Because they believe, children deserve good screen time. | $6M | Venture - Series Unknown | Feb 22, 2024 |  |
| Algorithmic Biologics | Algorithmic Biologics develops software and technology to maximize molecular testing processes. It operates "Tapestry," a tool that uses algorithm to examine multiple samples at the same time. Algorithmic Biologics is headquartered in Bangalore, India. | $2.5M | Seed | Feb 03, 2024 |  |
| Terra | Terra offers delight Gen Alpha with fun games, digital products, fostering creativity and cognitive growth with artificial intelligence. |  | Seed | Jan 01, 2024 |  |
| Data Sutram | Data Sutram is an AI-based Location Intelligence Enterprise with a Cloud-based B2B product that works on a Data As A Service business model to help businesses 1. Pinpoint New Locations for Expansion 2. Improve the performance of their existing physical & digital assets. 3. Finding the right Audience for a business.They are currently focussedon Retail, E-Commerce, Agritech, Real Estate, BFSI. | $3M | Series A | Sep 26, 2023 |  |
| Entropik | Entropik is the global leader in Emotion AI, powering a Unified Human Insights Platform. Our platform turns human emotions into business intelligence so brands can understand and connect with customers in more meaningful ways.Business Impact: Our unified platform delivers insights in days, not weeks. Teams launch faster, optimize campaigns withconfidence, and turn research from a cost center into a competitive advantage. | $25M | Series B | Feb 08, 2023 |  |
| FireCompass | FireCompass is a software-as-a-service (SaaS) platform for Continuous Automated Red Teaming (CART) and Attack Surface Management (ASM). It constantly indexes and monitors the deep, dark, and surface webs in order to map an organization's digital attack surface, including Shadow IT blind spots. The platform then launches safe multi-stageattacks, simulating a real attacker, to assist in identifying attack paths before hackers do. While providing continuous and proactive security, the platform eliminates the need for multiple tools and significant manual effort. The product is used by the top three telecom companies, the top three IT companies, major banks/financial services companies, and others from a variety of industries. | $7M | Series A | Feb 06, 2023 |  |

10 of 28 investments shown.

## Co-investors
- [Inflexor Ventures](https://shizune.co/investors/profile/inflexor-ventures) — VC Fund, 9 deals together
- [Athera Venture Partners](https://shizune.co/investors/profile/inventus-capital) — VC Fund, 6 deals together
- [Accel](https://shizune.co/investors/profile/accel) — VC Fund, 5 deals together
- [Elevation Capital](https://shizune.co/investors/profile/elevation-capital-6e8a) — VC Fund, 5 deals together
- [Alpha Wave Global](https://shizune.co/investors/profile/alpha-wave-global) — VC Fund, 3 deals together
- [Axilor Ventures](https://shizune.co/investors/profile/axilor-ventures) — VC Fund, 3 deals together

## Similar investors

### Similar industry
- [Antler](https://shizune.co/investors/profile/antler-be9c) — VC Fund
- [Alumni Ventures](https://shizune.co/investors/profile/alumni-ventures-group) — VC Fund
- [Right Side Capital Management](https://shizune.co/investors/profile/right-side-capital-management) — VC Fund

### Similar stage
- [Antler](https://shizune.co/investors/profile/antler-be9c) — VC Fund
- [Alumni Ventures](https://shizune.co/investors/profile/alumni-ventures-group) — VC Fund
- [Right Side Capital Management](https://shizune.co/investors/profile/right-side-capital-management) — VC Fund

### Similar country
- [Titan Capital](https://shizune.co/investors/profile/titan-capital) — VC Fund
- [Inflection Point Ventures](https://shizune.co/investors/profile/inflection-point-ventures-d275) — VC Fund
- [Blume Ventures](https://shizune.co/investors/profile/blume-ventures) — VC Fund

## Featured in investor lists
- [Artificial intelligence Investors in India](https://shizune.co/investors/artificial-intelligence-investors-india)
- [Artificial intelligence VC Funds in India](https://shizune.co/investors/artificial-intelligence-vc-funds-india)
- [Machine Learning Investors in India](https://shizune.co/investors/machine-learning-investors-india)
- [Machine Learning VC Funds in India](https://shizune.co/investors/machine-learning-vc-funds-india)
- [Hardware VC Funds in India](https://shizune.co/investors/hardware-vc-funds-india)
- [Hardware Investors in India](https://shizune.co/investors/hardware-investors-india)

## FAQ

### What does Bharat Innovation Fund invest in?

Bharat Innovation Fund invests primarily in Machine Learning, Information Technology and SaaS startups, most often at Seed and Series A stage. Most of the 28 investments tracked by Shizune back companies in India. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Bharat Innovation Fund's check size?

Bharat Innovation Fund typically joins rounds of $1.1M–$3M at Seed, $2.9M–$8M at Series A and $3M–$28M at Series B. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Bharat Innovation Fund participates in.

### How do I contact Bharat Innovation Fund?

Public channels for Bharat Innovation Fund include LinkedIn and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.

### Who are the partners at Bharat Innovation Fund?

The team at Bharat Innovation Fund includes Ashwin Raguraman (Founding Partner), Kunal Upadhyay (Managing Partner) and Saras Agarwal (Principal). The Team section lists each member with their title, investment count and links.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

# About Shizune
Shizune.co is an investor database. Core features:
- 48,091 startup investors (angels, VCs, accelerators, and others)
- Email, phone, LinkedIn (for intros), socials, and other contact data
- Updated daily from public funding news
- CSV and Excel export

The User can access the full database FOR FREE after signing up: shizune.co