Apart from focusing on core areas of technology such as consumer tech, fintech, deeptech, and healthtech, Chiratae is also scouting for opportunities in the edtech
and e-gaming segments which have been provided massive tailwinds by the Covid-19 lockdown.
“There are several pockets which are unexplored or underexplored in these segments. In the edtech
space we are looking at early learning and certain types of exam preparations or job related platforms outside of IITs and medical,” said Karan Mohla, partner at Chiratae Ventures. The fund, which has stalwarts such as Ratan Tata and Kris Gopalarishnan as advisors on board, had earlier made bets on Play Shifu and Emotix, both of which have a learning and gaming at the core.
Mohla said while the online gaming segment is still at an early stage, the edtech
space could see some more small consolidations in the coming months. “However, I would be surprised if there are multiple large consolidations because there's still room to grow in this segment,” he said.
The 14-year-old VC fund invests in pre-series A to series B startups, which have technology at the core, and has about 40-45 per cent of its capital coming in from India. “Hence we are also interested in companies
which are solving problems that are unique to India,” said Mohla. The homegrown VC has so far invested in over 90 startups with 34 exits till date, with some blockbuster exits including Flipkart, Lenskart and Manthan. The funds advised by Chiratae have over $750 million assets under management currently.
Chiratae recently invested in deep tech startups KBCols sciences and Aether Biomedical. “There was always a gap before deep tech start-ups could get to pre-commercialisation or commercialisation level, so that is one area we are trying to cover,” says Mohla.
*Average investment size: $500,000-$7 million
*Top bets: Flipkart, Curefit, HealthifyMe, FirstCry, Lenskart
*Core focus areas: consumer tech, healthtech, fintech, deeptech