Early-stage venture fund pi Ventures raises Rs 22Cr from Belgium-based Colruyt Group

Bengaluru-based early-stage venture fund pi Ventures has raised Rs 22 crore from Belgium-based Colruyt Group's extended IT arm, Colruyt Group India.

The venture fund invests in startups rooted in disruptive AI and deep technology, including blockchain, biotech, space tech, and material sciences, among others.

Accel, Nippon India Digital Innovation AIF (NIDIA), Bertelsmann India Investments, and entrepreneurs and family offices of Binny Bansal, Varun Alagh, Deep Kara, Hitesh Oberoi, leaders from IBM, Facebook, Google, etc., are among the investors of the fund.

Pixis, Locus, Agnikul, Wysa, Limechat, Silence Laboratories, SigTuple, Insane, TrueLark, are some of its portfolio startups.

The capital infusion from Colruyt sets the venture fund on track to finally close the first raise of Fund II launched in March 2021 between Rs 675 crore and Rs 750 crore, the statement said.

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