Natasha Malpani launches Rs 200 crore fund to invest in AI startups from India

Natasha Malpani, a former partner at Kae Capital, has launched Boundless Ventures, an early-stage investment firm with a Rs 200 crore corpus to invest in AI–native startups from India.

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The fund will write pre-seed and seed cheques for companies working across the AI spectrum, including consumer applications, infrastructure, agent tooling, vertical use cases in healthcare and logistics, and Make-in-India hardware. Malpani has raised the capital from her personal network of friends and family.

Boundless has already invested in six startups. Its portfolio includes healthcare platform SuperHealth, robotics firm Armatrix, spacetech venture Piersight, and 60-minute fashion delivery platform Knot, alongside two stealth startups in AI infrastructure and consumer AI.

“We’re at an inflection point where AI is moving from experiments to infrastructure, and the next decade will be defined by the teams who can turn raw capability into enduring systems and categories,” Malpani said. “Founders who can marry technical depth with cultural fluency will be the ones who set the terms of the next wave. Boundless exists to back those founders before the world catches on. I built Boundless as the fund I needed as a founder: sharp, fast, and rooted in trust.”

The fund promises to offer more than capital, supporting founders with storytelling, market access, and network building. Malpani brings operational and creative experience to the table, having previously founded media venture Boundless Media and scaled Dice Media before her stint at Kae Capital.

Her move comes as generative AI startups in India raised $524 million in the first seven months of 2025, the highest in five years, as global investors step up bets on the country’s AI ecosystem.