Warmup Ventures Unveils Rs 300 Crore Fund to Support Early Stage Start-ups, Key Focus on Deeptech

Warmup Ventures has launched its second fund ‘Warmup Fund II’ with a corpus of Rs 300 crore to support around 30 early-stage start-ups. The SEBI registered category 2 AIF plans to invest Rs 5-7 crore in each start-up across sectors including deeptech, climate, and sustainability.

“At Warmup, we are dedicated to going beyond funding by equipping early-stage founders with the knowledge and networks to make informed decisions and scale faster,” said Sharad Bansal, Managing Partner, Warmup Ventures in an official statement.

The venture capital firm was founded by Sharad Bansal, Rajendra Lora, and Yogesh Chaudhary, who have invested in more than 100 emerging start-ups through combined angel invetments in the past six years. Since its inception in 2023 as a syndicate fund, the VC has invested in over 15 start-ups.

These include Bobabhai, scaling to over 45 stores nationwide; Nitro Commerce, now hosting more than 200 brands; MiniMines, a Li-ion battery recycling startup, RocketPay, a simplified payment collection app with about 5000 merchants onboard and Balwaan Krishi, which secured Rs 40 crore from JM Financial to advance agritech solutions for small and mid-size farmers.

Yogesh Chaudhary, Founding Partner at Warmup Ventures said the company is creating a platform connects heritage with future growth. “By engaging family offices and second-generation entrepreneurs, the fund creates a unique platform that connects legacy businesses with future-forward startups,” the VC firm said.

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The company further cited an example of Bobabhai and Nitro Commerce start-ups, saying their rapid store expansion and success in supporting over 200 brands showcase the growth potential when the right capital and guidance are provided.

Recently, the burgeoning interest in artificial intelligence (AI) has seen prominent players stepping up to nurture early-stage start-ups. IIMA Ventures has also announced its partnership with tech giant Google for Start-ups to launch its first cohort of AI Academy India 2024. It aims to support early-stage AI start-ups across sectors like agriculture, education, infrastructure, climate, and healthcare.

Adding to this momentum, Amazon Web Services Inc. (AWS) has also announced a $230 million investment in generative AI early-stage start-ups and the expansion of the global Generative AI Accelerator. This programme is supporting 80 founders, including 20 from Asia-Pacific and Japan (APJ), by providing tailored technical and business assistance.