# Incubate Fund India

> Incubate Fund India is a VC fund backing E-Commerce and Financial Services. See 50 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: Bengaluru, India
- Total investments: 50
- Last investment: May 2026
- Lead investor: 34%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/13337641/
- Website: https://www.incubatefund.in/
- Facebook: https://www.facebook.com/incubatefundindia/

Incubate Fund India is a seed and pre-seed stage focused venture capital fund backed by Japan's leading seed focused fund, Incubate Fund.

## Contacts

5 contacts available for Incubate Fund India. Shizune tracks 2 team members at Incubate Fund India. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/incubate-fund-india?utm_source=investor_profile

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| E-Commerce | 5 | 10% |
| Financial Services | 5 | 10% |
| Retail | 4 | 8% |
| Internet | 4 | 8% |
| B2B | 3 | 6% |

75 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Seed | 30 | 60% |
| Series A | 6 | 12% |
| Pre-Seed | 3 | 6% |
| Funding Round | 2 | 4% |
| Series B | 1 | 2% |

6 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| India | 31 | 62% |
| Indonesia | 1 | 2% |

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Nao Murakami | Founder & General Partner | 16 | https://shizune.co/investors/profile/nao-murakami |
| Rajeev Ranka | Principal | 17 | https://shizune.co/investors/profile/rajeev-ranka |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Fairdeal Market | Fairdeal Market enables offline commerce, digitally with all-in-one retail solution. | $156.7K | Series A | May 26, 2026 |  |
| Elixiir Foods | Elixirr Foods is an Indian company focused on ready-to-eat and ready-to-cook food products, particularly seafood curries, pastes, pickles, and on-the-go delicacies inspired by Kerala cuisine. | $9M | Seed | Feb 12, 2026 |  |
| Ledgerowl | Ledgerowl is an AI-powered platform to automate tasks involved in bookkeeping – ranging from data collection, data entry, and reconciliation to the classification of transactions. |  | Seed | Feb 06, 2026 |  |
| Intellend | Intellend Technologies Advisors provides an embedded financing platform that integrates working capital lending into MSME-focused digital merchant ecosystems. The company offers a full stack lending-as-a-service model that connects merchant platforms, regulated lenders, and merchants through a single technology layer. Its platform supportsshort-term working capital, transparent fixed-fee pricing, and flexible daily or monthly repayment options with minimal documentation. Digital merchant ecosystems use Intellend to add contextual credit, earn origination fees, and access real-time analytics. Lenders use it to reach underserved MSMEs, support priority sector lending, and apply AI-driven risk assessment. | $1.2M | Seed | Jan 20, 2026 |  |
| Flent | Flent offers fully furnished designer homes. | $1.9M | Seed | Jan 07, 2026 |  |
| Lumov Health | Lumov Health provides a wide choice of goods intended for efficient pain management. We hope to enable everyone to move freely and live pain-free. | $1.1M | Seed | Dec 08, 2025 |  |
| INCLUD | INCLUD is a mass premium children's clothing company. | $2.9M | Seed | Sep 19, 2025 |  |
| Fairdeal Market | Fairdeal Market enables offline commerce, digitally with all-in-one retail solution. | $3M | Seed | Aug 12, 2025 |  |
| Fantail | Fantail is a B2B company that allows buyers to procure Man-made fabrics at quality and fair pricing. | $1.6M | Seed | Jun 24, 2025 |  |
| Saswat Finance | Saswat's purpose is to empower rural people with basic financing options powered by the newest technologies in order to assist close the economic gap between urban and rural areas. | $2.6M | Seed | Jun 17, 2025 |  |

10 of 50 investments shown.

## Co-investors
- [M Venture Partners (MVP)](https://shizune.co/investors/profile/3t-venture-capital-partners) — VC Fund, 8 deals together
- [Z47](https://shizune.co/investors/profile/matrix-partners-india) — VC Fund, 8 deals together
- [Ankur Capital](https://shizune.co/investors/profile/ankur-capital) — VC Fund, 6 deals together
- [Beyond Next Ventures](https://shizune.co/investors/profile/beyond-next-ventures) — VC Fund, 5 deals together
- [Titan Capital](https://shizune.co/investors/profile/titan-capital) — VC Fund, 5 deals together
- [Whiteboard Capital](https://shizune.co/investors/profile/whiteboard-capital) — VC Fund, 5 deals together

## Similar investors

### 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

## FAQ

### What does Incubate Fund India invest in?

Incubate Fund India invests primarily in E-Commerce, Financial Services and Retail startups, most often at Seed and Series A stage. Most of the 50 investments tracked by Shizune back companies in India. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### How do I contact Incubate Fund India?

Public channels for Incubate Fund India include LinkedIn, the website linked on this profile and Facebook. 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 Incubate Fund India?

The team at Incubate Fund India includes Nao Murakami (Founder & General Partner) and Rajeev Ranka (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.

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