Consuma AI raises Rs 12 crore in a seed round led by Equirus InnovateX Fund, angel investors

Equirus InnovateX Fund, the venture capital arm of Equirus Group, has made its first AI investment by leading a Rs 12 crore in a seed funding round in Consuma AI, with a Rs 7 crore investment.

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The round also saw participation from a stellar group of angel investors, including Abhishek Goyal (Tracxn), Mekin Maheshwari (Flipkart), Bhavik Dholakia (Swatantra Wealth), Harsh Shah (Fynd), Arnav Kumar (Leap Finance), Shiv Kapoor (Titan Capital), and Biswa Kalyan Rath (Comedian), among others.

Founded in 2021 by Abhilash Madabhushi, Consuma AI is reimagining the future of consumer research. By replacing outdated methods like surveys and focus groups with an AI-first approach, Consuma allows brands to tap into real-time digital behaviour to derive faster, deeper, and more cost-effective consumer insights.

With its proprietary AI engine, the startup enables insights and brand teams to perform deep consumer research in 30 minutes instead of 2–3 months, at 1/10th the cost, and across 1,000x more data points.

Sadhika Agarwal, Principal at the Equirus InnovateX Fund, said,  “In a world of quick commerce where consumer expectations evolve in real time, shelf life of insights is low. Brands can no longer rely on million-dollar research projects that run into months. Consuma AI’s exceptional team and platform brings that decision intelligence into the moment.”

Equirus InnovateX Fund is Equirus Group’s inaugural venture capital vehicle, a $20 million (Rs 170 crore) SEBI-registered Category-I AIF focused on early-stage investments from Seed to Pre-Series A.

The fund backs founders building in SaaS and deeptech. The fund has invested in high-impact startups across sectors, including: Pointo (CleanTech Battery Company), Datazip (Composable Lakehouse platform) and GreenStitch (Fashion-Focused ESG Accounting SaaS).