Info Edge (India) has revealed that its investments in artificial intelligence (AI) and deeptech startups since 2020 total Rs 1,003 crore across 54 companies, many of which were backed before the global AI investment wave gained momentum. The company's overall startup portfolio, spanning AI, deeptech, consumer technology, SaaS, fintech, and other sectors, is now valued at approximately Rs 41,300 crore.
AI and Deeptech Investments
In a letter to shareholders on Monday, the company stated that it began investing in AI and deeptech around 2020, ahead of the broader market trend. The investments cover enterprise AI, robotics, semiconductors, spacetech, biotech, and electric mobility. Info Edge prefers to invest in companies domiciled in India and led by Indian founders, whether building for domestic or global markets.
The letter noted: "We began investing in AI and deeptech in 2020 - ahead of the broader market wave. We made our first investments in these two themes circa 2020, well before AI became the consensus investment it is today. We have since deployed over Rs 1,003 Cr across 54 AI-native and deeptech companies."
AI Portfolio Performance
Info Edge has invested Rs 614 crore across 28 AI startups. This portfolio is currently valued at Rs 1,268 crore, implying a 2.1x multiple and an estimated gross internal rate of return (IRR) of around 31%. Out of the 28 AI companies, 15 have raised externally-led follow-on rounds from institutional investors.
Several AI startups in the portfolio are contributing to national technology initiatives. Voice AI startup Gnani.ai was selected under the IndiaAI Mission and received Rs 177 crore worth of government GPU compute credits.
Deeptech Portfolio
On the deeptech front, Info Edge has invested Rs 455 crore across 30 companies. The portfolio is currently valued at Rs 559 crore, translating into a 1.2x multiple and an estimated gross IRR of around 15%. The company noted that deeptech investments are relatively younger, as most were made at the intellectual property creation and R&D stage.
Among the deeptech startups, ePlane and Manastu Space secured allocations under the government's Research Development and Innovation (RDI) scheme. ePlane received Rs 285 crore, the largest allocation among the 22 approved proposals, while Manastu Space received Rs 115 crore.
Consumer Technology Dominates
Consumer technology remains the largest segment of Info Edge's startup portfolio. The company has invested Rs 2,755 crore across 45 consumer-tech and consumer-AI startups, currently valued at Rs 37,214 crore, reflecting a 13.5x multiple and an estimated gross IRR of around 34%.
Overall Portfolio
Overall, Info Edge and its managed funds have invested around Rs 4,900 crore across 135 startups spanning AI, deeptech, consumer technology, SaaS, fintech, and other sectors. The portfolio is now valued at around Rs 41,300 crore. The company stated: "In total, we have deployed Rs 4,900 Cr across 135 companies through various pools of money that we manage. This is now valued at Rs 41,300 Cr."
Info Edge believes India is entering a phase where globally relevant technology companies will increasingly be built from India, not just for India, with AI expected to reshape both startups and established internet businesses in the years ahead.
