About IIMA Ventures
IIMA Ventures is a venture capital firm founded in 2007. It is primarily based out of Ahmedabad, India. As of Apr 2026, IIMA Ventures is an active investor, having invested in 365 companies, with 11 new investments in the last 12 months. It primarily invests in Seed round in India based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to High Tech and Retail. Most recently it participated in the $***** Seed round of SatLeo Labs Overall, IIMA Ventures portfolio has seen 1 unicorn, 2 IPOs and 19 acquisitions including key companies like Ola, GUVI and Setu. A lot of funds co-invest with IIMA Ventures, with names like CIIE sharing a substantial percentage of its portfolio. IIMA Ventures has team of 80 people including 2 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 4 more
Portfolio IPOs
Portfolio Acquisitions
Portfolio Unicorns
Deals in last 12 months
IIMA Ventures' List of Top Investments
IIMA Ventures has a portfolio of 365 companies, one of which is a Unicorn. Their most notable investments are in SkillAngels and Aspiration Energy.Their portfolio spans across India, United States, United Kingdom and 5 more locations. They have invested in Enterprise Applications, High Tech, Retail and 39 other sectors, across stages such as Seed, Series A and 4 more. Here is the list of top investments by IIMA Ventures:
1. Ola
Operator of a network providing on-demand transportation and mobility solutions. It facilitates booking of rides through its platform. The company offers options for daily commutes, outstation trips, and hourly rentals. It also provides options for booking electric vehicles.
Key facts about Ola
- Founded Year: 2010
- Location: Bengaluru (India)
- Annual Revenue: ₹2,200Cr as on Mar 31, 2024
- Valuation: $*****
- Stage: Series J
- Total Funding till date: $3.84B
- Employee Count: 3,724 as on Aug 31, 2025
- Investors: Helion Venture Partners, USM and 148 Others
- Latest Funding Round: Series J, Feb 22, 2022, $*****
- Highlight: Editors' Pick
2. PlayShifu
Provider of interactive STEM kits. Its offerings include physical-digital educational toys combining augmented reality and app-based interaction to teach STEM subjects like science, math, geography, and logic. It also offers themed kits including globes, puzzles, and modular gameboards designed for subject-specific exploration and learning. It uses AR technology, motion recognition, and mobile applications integrated with physical play components. It caters to children between ages 4 to 11, parents, and educators, with applications in home-based and supplemental learning across Android and iOS platforms.
Key facts about PlayShifu
- Founded Year: 2016
- Location: Bengaluru (India)
- Annual Revenue: ₹99.8Cr as on Mar 31, 2025
- Valuation: $*****
- Stage: Series B
- Total Funding till date: $35.8M
- Employee Count: 142 as on Aug 31, 2025
- Investors: BlackSoil, Trifecta Capital and 115 Others
- Latest Funding Round: Venture Debt, Jul 10, 2025, $*****
- Highlight: Editors' Pick
3. GUVI
Developer of vernacular-based hyperlocal mentoring platform for providing online programming. Some of the courses offered by the platform include data structures, C, C++, Java, Python, ROR, machine learning, R programming, IOS, and Android, among others. The courses are in the form of video lectures focusing on context-based learning, short notes, coding playground, assignment, and assessments. These video lectures are in vernacular languages, while the text contents are in English and the platform provides users with the option to choose the language of their choice as well.
Key facts about GUVI
- Founded Year: 2014
- Location: Chennai (India)
- Annual Revenue: ₹71.7Cr as on Mar 31, 2025
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $3.79M
- Employee Count: 484 as on Aug 31, 2023
- Investors: Tencent, Corporate Business Advisors and 11 Others
- Latest Funding Round: Seed, Sep 19, 2022, $*****
- Highlight: Acquired
Provider of software-defined robotics system for warehouse operations. It offers robotic systems that provide logistics services or solutions to sort and consolidate parcels. It also provides solutions that include automated robotic systems, operations management, and more. It helps in managing warehouse space utilization.
Key facts about Unbox Robotics
- Founded Year: 2019
- Location: Pune (India)
- Annual Revenue: ₹14.9Cr as on Mar 31, 2025
- Valuation: $*****
- Stage: Series B
- Total Funding till date: $28.2M
- Employee Count: 105 as on Jul 31, 2025
- Investors: ICICI Venture, F-Prime Capital and 53 Others
- Latest Funding Round: Series B, Jan 05, 2026, $*****
- Highlight: Editors' Pick
5. AgniKul
Provider of customized orbital launch vehicles and private space missions. They offer dedicated launches tailored to payload size, ensuring cost-effectiveness. The company utilizes single-piece 3D-printed semi cryogenic engines and a mobile launchpad for deployment from optimal geographic locations. Clusterable configurations allow for customized rocket designs to fit specific mission requirements. An in-house autopilot and avionics architecture ensure adaptability and seamless software-hardware integration. Propulsion components are designed to meet exact mission needs.
Key facts about AgniKul
- Founded Year: 2017
- Location: Chennai (India)
- Annual Revenue: ₹7.8Cr as on Mar 31, 2025
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $75.5M
- Employee Count: 288 as on Aug 31, 2025
- Investors: LionRock Capital, Celesta Capital and 103 Others
- Latest Funding Round: Series C, Mar 14, 2026, $*****
- Highlight: Editors' Pick
IIMA Ventures' Year-on-Year Investment Trends
IIMA Ventures has invested in 365 companies over the last 17 years, with an average of 13 new investments annually in the last 10 years. In 2025, it made 20 investments, while as of Apr 2026, it has made 3 investments in this year. Its most recent first time investment was in Raana semiconductors and most recent follow-on round was in SatLeo Labs.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 1 | 2 | 3 |
2025 | 15 | 5 | 20 |
2024 | 13 | 2 | 15 |
2023 | 11 | 3 | 14 |
2022 | 23 | 5 | 28 |
2021 | 9 | 3 | 12 |
2020 | 13 | 0 | 13 |
2019 | 14 | 1 | 15 |
2018 | 11 | 4 | 15 |
2017 | 10 | 3 | 13 |
IIMA Ventures' Investments by Stage
IIMA Ventures has made 161 investments in Seed stage with an average round size of $512K, 3 investments in Series A stage with an average round size of $2.88M and 2 investments in Grant (prize money) stage with an average round size of $28.3K.Stage of entry | No. of Investments |
|---|---|
Seed | 161 |
Series A | 3 |
Grant (prize money) | 2 |
Angel | 1 |
Conventional Debt | 1 |
Others | 1 |
Note: We have considered here, only first round of investments
IIMA Ventures' Investments by Sector
IIMA Ventures has a diverse portfolio, with companies operating in the Enterprise Applications, High Tech, Consumer, Sustainability Tech and Environment Tech. Notably, it has invested in 295 Tech companies, 225 Enterprise (B2B) companies, 151 Software companies and at least 142 companies focusing on Consumer (B2C).Sector | No. of Investments |
|---|---|
Enterprise Applications | 56 |
High Tech | 39 |
Consumer | 35 |
Sustainability Tech | 30 |
Environment Tech | 24 |
Others | 237 |
Note: We have considered here, only first round of investments
IIMA Ventures' Investments by Geography
IIMA Ventures has made most investments in India (165), followed by United States where it has made 2 investments.Country | No. of Investments |
|---|---|
India | 165 |
United States | 2 |
Denmark | 1 |
Germany | 1 |
Singapore | 1 |
Others | 1 |
Note: We have considered here, only first round of investments
IIMA Ventures' recent investments
IIMA Ventures has made 3 investments in 2026 so far. SatLeo Labs and Raana semiconductors are the latest among them.Here are the most recent investments by IIMA Ventures:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Apr 06, 2026 | India | Seed | 3269 | ||
Jan 20, 2026 | India | Seed | 2997 | [+4] | |
Jan 07, 2026 | India | Seed | 9269 | [+11] | |
Dec 23, 2025 | India | Seed | 8449 | [+6] | |
Dec 16, 2025 | India | Seed | 1096 | [+3] |
Unicorns in IIMA Ventures' Portfolio
IIMA Ventures has 1 unicorn in its portfolio - Ola. The most recent unicorn in their portfolio is Ola which became a unicorn in 2015, 10 years before IIMA Ventures first invested in it.Here is a list of unicorns in IIMA Ventures' portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
74 | Operator of a network providing on-demand transportation and mobility solutions | 2010 | Bengaluru | Series J | ckmlurj |
IPOs and Publicly Listed companies in IIMA Ventures' Portfolio
2 of IIMA Ventures' portfolio companies have become public. BharatRohan got listed on the Bombay Stock Exchange (BSE), in Sep 2025 at marketcap of $19.1M and ideaForge got listed on the National Stock Exchange (NSE), Bombay Stock Exchange (BSE) at marketcap of $339M.Here are IIMA Ventures' portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Sep 30, 2025 | Apr 12, 2023 | Seed | 3197 | |
Jul 07, 2023 | Jan 09, 2015 | Seed | 5594 |
Acquired companies in IIMA Ventures' Portfolio
19 companies from IIMA Ventures' portfolio have been acquired. The most recent acquisition were NEERX in Jun 2025 by DeHaat.Here are IIMA Ventures' portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jun 09, 2025 | - | - | 4637 | |
Jun 19, 2024 | May 26, 2022 | Seed | 3818 | |
Jan 19, 2024 | Mar 31, 2014 | Seed | 2658 | |
Sep 13, 2023 | - | - | 8034 | |
Sep 13, 2023 | - | - | 7583 |
Team profile of IIMA Ventures
IIMA Ventures has a team of 80 members including 2 Partners, 2 Venture Partners and 7 Principals located in India. IIMA Ventures' team does not sit on the board of any company as of now.Here is a list of top team members in IIMA Ventures:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Jaipur | - | - | |
Partner | Ahmedabad | - | - | |
Venture Partner | Thane | - | - | |
Venture Partner | Bengaluru | - | - | |
Principal | Ahmedabad | - | - | |
Principal | Ahmedabad | - | - | |
Principal | Ahmedabad | - | - | |
Principal | Jaipur | - |
Co-investors of IIMA Ventures
Over the past 17 years, 2692 investors have co-invested in IIMA Ventures's portfolio companies. This includes funds and angels.
- Invested before IIMA Ventures: Villgro, Axilor Ventures and 406 others have invested in rounds before IIMA Ventures. There are 4 companies where Villgro has invested before IIMA Ventures and 2 companies where Axilor Ventures has invested before IIMA Ventures.
- Top Co-investors of IIMA Ventures: 753 investors entered a company along with IIMA Ventures. These include investors like CIIE (15 companies).
- Invested after IIMA Ventures: A total of 1531 investors have invested in IIMA Ventures's portfolio after their investments. Top Investors include Social Alpha (6 companies), LetsVenture (5 companies) and Infinyte Club (5 companies).
Recent News related to IIMA Ventures
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Spacetech startup SatLeo Labs raises $2.2 million to advance its flagship thermal satellite missionIndian Startup News•Apr 06, 2026•SatLeo Labs, Unicorn India Ventures, IIMA Ventures, Merak Ventures and 2 others
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Lunchbox Brand Basil Nets $2 Mn To Expand Product PortfolioStartupNews•Feb 24, 2026•IIMA Ventures, Basil, Appreciate Capital, Prime Venture Partners
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Fintech Startup Mysa Raises $3.4M Co-led by Blume Ventures and Piper SericaIndianWeb2•Jan 27, 2026•IIMA Ventures, Piper Serica, Neon, Mysa and 4 others
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Blinq Mobility Secures Rs 4.3 Cr in Pre-Seed Funding to Develop Battery-Swapping Electric CarsViestories•Dec 24, 2025•8i Ventures, AIC Banasthali, IIMA Ventures, Blinq and 1 other
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Quintrans raises $750K in pre-seed round led by Capital-AEntrackr•Dec 16, 2025•Quintrans, Capital A, RR Global, IIMA Ventures and 4 others
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Orthopedic recovery product startup Lumov raises $1.2 Mn led by Incubate FundEntrackr•Dec 08, 2025•IIMA Ventures, Lumov Health, Incubate Fund India, QRG Investments and Holdings and 7 others
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Beyond Renewables & Recycling Secures Pre-Seed Funding Led by Momentum CapitalStartupNews•Oct 30, 2025•Beyond Renewables, IIMA Ventures, Momentum Capital, Venture Catalysts and 2 others
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Dashamlabs secures Rs 12 Cr in seed funding led by Speciale InvestStartupNews•Oct 16, 2025•DashamLabs, IIMA Ventures, Speciale Invest, Purple Style Labs and 1 other
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Chara Technologies secures Rs 52 crore to boost rare-earth-free motor productionMoneycontrol•Oct 13, 2025•IIMA Ventures, Chara, Greaves Cotton, Sonalika and 7 others
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