Venture capital firm Shastra VC has launched a $100 million fund focused on early-stage startups in deeptech, artificial intelligence, climate tech, spacetech, defence, and renewable sciences. Previously known as Veda VC, the firm plans to invest between $500,000 and $3 million in IP-led startups. Fund III will continue to back deeptech startups, with a sharper focus on space and defence, artificial intelligence, and renewable sciences, while also increasing its ability to support companies beyond initial investments. Shastra VC is led by Vasant Rao, Avijeet Alagathi, and Ashis Nayak. Rao and Nayak had earlier co-founded Autoninja, which was acquired by ICICI Lombard, while Alagathi founded BYG, later acquired by Curefit. The firm claims to have deployed around $55 million across its first two funds and currently manages assets worth around $100 million. Its portfolio includes startups such as Simplismart, Alt Carbon, Sisir Radar, and Avammune. The firm has also built an advisory network comprising business leaders and scientific experts, including CP Gurnani and C. Jayaram, along with domain experts across biotech, semiconductors, climate, and space. It is further supported by a network of over 30 technical champions, including founders, researchers, operators, and LPs. Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investorshere.
