Indian venture capital fund pi Ventures receives $12 million investment commitment from SIDBI Bank

ChainCatcher news, Indian early-stage venture fund pi Ventures announced that it has secured an investment commitment of 1 billion Indian Rupees (approximately 12 million USD) from the startup fund (FFS) managed by the Small Industries Development Bank of India (SIDBI). The fund has also received support from investors such as BII, Nippon India Digital Innovation AIF (NIDIA), Accel, Colruyt, as well as Binny Bansal and Varun Alagh. Pi Ventures announced that it will use this funding to invest in startups focused on deep technologies across industries, including artificial intelligence and blockchain.

Currently, pi Ventures' portfolio in the crypto and blockchain sector includes Web3 cybersecurity company Silence Laboratories, industrial technology company SwitchOn, and blockchain B2B currency supply chain management platform OweMe, among others. (source link)