Healthcare has not lacked technology. It has resisted reorganisation. Every major wave — from EMRs to telemedicine to wearables

The frontier labs keep getting better, and a tidy conclusion writes itself: pick a vertical, wrap a capable LLM in a clean interface, and ship before someone else does.

Transforming how infrastructure and engineering enterprises evaluate and win complex projects

India sold 1.97 million electric vehicles in FY25 – up 17% year-on-year, with CY2025 crossing a record 2.27 million units.

How TakeMe2Space is building the “Cloud Computing” layer for orbit to make Earth Observation accessible to everyone.

Chiratae Ventures today announced the launch of the Chiratae Sonic DeepTech Program, a high-velocity funding channel built to fast-track founders pioneering frontier technologies and accelerate India’s next wave of breakthrough innovation.

How TakeMe2Space is building the “Cloud Computing” layer for orbit to make Earth Observation accessible to everyone.

India’s pet-care market is undergoing a significant transformation. Urban lifestyles, rising disposable incomes, and a shift towards nuclear households are reshaping how Indians think about pets.

Chiratae Ventures today announced the launch of the Chiratae Sonic DeepTech Program, a high-velocity funding channel built to fast-track founders pioneering frontier technologies and accelerate India’s next wave of breakthrough innovation.

How CtrlB is building India’s next-generation data infrastructure to democratize observability at scale.

The Chiratae Impact Report talks about the meaningful impact that is being created by Chiratae’s portfolio companies across sectors, by way of reaching those previously underserved, bringing down costs, increasing access, and improving quality, while also scaling successfully through disruptive technologies.

Chiratae Ventures, one of India’s leading technology-focused venture capital firms, announced the second close of its fifth venture capital fund at USD 150 million.

Healthcare is one of the most mission-critical yet operationally intensive industries in the world. Globally, it represents nearly 10% of GDP, and in the U.S. alone, spending has crossed $4.9 trillion.

India’s healthcare infrastructure is expanding rapidly—with over ₹32,500 crore in capex expected to add ~30,000 hospital beds by FY28. Yet, despite this physical growth, the sector’s financial and operational metrics tell a more sobering story

India’s healthcare infrastructure is expanding rapidly—with over ₹32,500 crore in capex expected to add ~30,000 hospital beds by FY28. Yet, despite this physical growth, the sector’s financial and operational metrics tell a more sobering story

Everyone’s talking about EVs the sleek scooters, the zippy autos, the climate promise. But beneath the surface, there’s one piece of the puzzle quietly powering this transition.

Landscape in India stands at a pivotal moment in its battle against climate change, grappling with escalating environmental challenges that demand urgent, innovative, and scalable solutions.

Landscape in India stands at a pivotal moment in its battle against climate change, grappling with escalating environmental challenges that demand urgent, innovative, and scalable solutions.

Landscape in India stands at a pivotal moment in its battle against climate change, grappling with escalating environmental challenges that demand urgent, innovative, and scalable solutions.

Chiratae Ventures, in collaboration with Google and 1Lattice, has unveiled its ConsumerTech report titled “From Local to Global: The Evolution of Indian Brands’ Distribution”.

ConsumerTech Report 2025 The ConsumerTech Report 2025 offers insights into how Indian brands can scale domestically and internationally. It highlights strategic levers such as building compelling brand narratives, fostering community engagement, driving innovation, and adopting omnichannel reach. The report identifies high-potential categories like health foods, pet care, and athleisure in the domestic market while emphasising technology-driven growth for export-focused sectors like lab-grown diamonds and millet-based foods. Sign up to download the Report. Fields marked with * are required. First Name Last Name Organization Designation Official Email Address LinkedIn Url Submit Δ

Landscape in India stands at a pivotal moment in its battle against climate change, grappling with escalating environmental challenges that demand urgent, innovative, and scalable solutions.

India, home to over 150 million farmers and a thriving agricultural ecosystem, is at the cusp of a technological revolution. While agriculture contributes ~20% to India’s GDP but it supports >58% of the population’s livelihood.

India has always harboured a deep fascination for the cosmos, demonstrated by its pioneering space missions such as Chandrayaan-3, which recently achieved a historic soft landing on the Moon’s south pole

We have witnessed the evolution of consumer services, from being fully offline to being significantly digital.

From 1979 to 2020, U.S. manufacturing jobs dropped by 36%, while all other non-farm jobs in the U.S. grew by 65%.

In our explorations of generative AI (Gen AI) in consumer and prosumer applications, particularly built from India, we have found exciting developments and immense potential for growth.

The AI revolution is here, and it’s transforming industries faster than we could have imagined. Tasks that took a lot of time and manual effort are now done seamlessly at the click of a button.

“In the world of B2B sales, demo is the moment of truth.”

The 18-year-old global technology venture capital fund, Chiratae Ventures, announced the Chiratae Ventures Patrick J. McGovern Awards for 2024.

The global VC fund Chiratae Ventures announced today that Adobe CEO Shantanu Narayen received the Global Lifetime Achievement Award on September 16, 2024, during an awards dinner in Palo Alto attended by over 50 senior professionals from the technology industry.

DeepTech is emerging as a pivotal force across industries in the Indian economy. Given its disruption capacity, offering transformative potential across multiple industries, it has caught the attention of leading investors in the Indian venture capital ecosystem. 

The Chiratae Impact Report talks about the meaningful impact that is being created by Chiratae’s portfolio companies across sectors, by way of reaching those previously underserved, bringing down costs, increasing access, and improving quality, while also scaling successfully through disruptive technologies.

Music has been the soul that has driven civilisations since aeons and India has been at the forefront of musical revolution. From the breadths of Kashmir to Kanyakumari and in the past century music from India has been globalised to every corner of the world with the advent of internet accelerating the boom exponentially. Today we believe the total size of music learners is more than …..

Chiratae Ventures, India’s premier homegrown venture capital firm today announced the launch of the 2024 cohort of its flagship seed investment initiative, Chiratae Sonic.

FirstCry the leading omnichannel retailer in the baby and maternity products space, has officially announced its public listing, marking a significant milestone in its 14-year journey.

Presenting Chiratae Sonic, our flagship seed program with an accelerated process of decision making for companies raising seed funding. Chiratae Sonic is for entrepreneurs who are raring to scale up quickly with their disruptive tech ideas. We aim to provide you with an accelerated process of raising the seed investment for your tech business

Chiratae Ventures, in collaboration with The Digital Fifth, has released a comprehensive report titled ‘Unlocking Indian Enterprise Fintech Market.’ As per the 2024 FinTech Sector report, Enterprise FinTechs are poised to expand

Unlocking Indian Enterprise FinTech Market Report 2023 showcases Chiratae Ventures’ focus and confidence in India’s FinTech sector and deep dives into the nuances of the massive opportunity that Enterprise FinTechs present. India’s rapidly evolving traditional Financial Services providers are undergoing complex and deep-rooted technology transformations as India prepares to become the third largest economy in the world, and Enterprise FinTechs will have a profound role to play in this journey.

The 9th edition of Chiratae Ventures Spotlight was held in Mumbai in October, and it saw ~40 portfolio companies, ~150 investors and ~550 one-on-one meetings.

ConsumerTech Report 2023, first in a 3-part series, combines research and primary surveys conducted with respondents nationwide. It delves into trends within the ConsumerTech industry and provides insights in gaming, e-commerce, fintech, entertainment, and healthcare sectors. It outlines the Success playbook for founders building in this space from the learnings of Chiratae’s own portfolio.​

Indian ConsumerTech Industry to reach USD 300 Bn by 2027, says Report by Chiratae Ventures, 1Lattice, and Google Dec 12, 2023  Digital public infrastructure and population scale solutions play a major role in unlocking India’s consumer potential. The key success factors for scaled impact in the ConsumerTech industry are product innovation, vertical integration, omnichannel strategies, and the globalisation of scaled products. Bengaluru, 12th December 2023: The Indian ConsumerTech industry is set to rise as the total addressable market will reach ~USD 300 Bn, by 2027, growing at a CAGR of ~25%. Chiratae Ventures, in collaboration with 1Lattice and powered by Google, has unveiled “Cracking the Code: Unveiling India’s Consumer Landscape,” the first instalment of a three-part Annual Report series. The report combines secondary research and primary surveys conducted with respondents nationwide. It delves into trends within the ConsumerTech industry and provides in-depth analyses of gaming, e-commerce, fintech, entertainment, and healthcare sectors. Digital public infrastructure and population scale unlocking India’s consumer potential The unlocking of India’s consumer potential is driven by digital public infrastructure and population-scale solutions. Over 500 million Indians now seek entertainment and gaming services on a daily basis, Over 1.2 B people in India need good healthcare, and ~1.1 Bn people have a bank account and seek to invest in financial services. ~880 Mn people in India aspire to spend on fashion and apparel, and ~220 Mn people in India aspire to spend on on-demand services. This has resulted in an increased focus on personalisation, a rise in experiential retal and a growing influence of social media. Supported by an increase in disposable income, and significant digital adoption they provided additional tailwinds to solve for the above needs. Emerging trends such as social commerce, immersive shopping experiences, and mobile gaming are reshaping the global consumer landscape, impacting regions including the US, Europe, APAC, and MENA. Not to be left behind, the Indian Consumertech sector is experiencing swift rise of over-the-top (OTT) services on the subscription side, an increasing involvement of women in gaming, commerce and social media, and a notable rise in green mobility solutions such as EV sales.   The current Total Addressable Market (TAM) of the ConsumerTech industry is valued at ~USD 100 Bn, with the dominant sectors being mobility (30% share of the market) which includes ride-hailing apps, automobile marketplace and online car rental market followed by entertainment (25%) which includes print, digital, and television media. By 2027, fashion is expected to overtake entertainment as the second leading sector with apparel and accessories, beauty and personal care, footwear, jewellery, and watches. Sudhir Sethi, Founder and Chairman of Chiratae Ventures, on the launch of the report, shared, “Chiratae projects the Indian consumer industry to be $300 B revenue by 2027. We have till date invested ~$450 Mn into the sector. Key winners backed by Chiratae include Flipkart, Myntra, Cult.fit, Firstcry, Lenskart, GlobalBees, Policybazaar, PlaySimple, Curefoods, Fibe, Rentomojo to name a few. We believe that ConsumerTech sector is both a horizontal and a vertical play with winners at the intersections of horizontal technology disruption and vertical domains such as Health, Finance, Education, Agriculture etc. We continue to invest in companies such as Agrostar, Healthifyme, Miko, Artium, and a new breed of consumer deeptech companies such as KBCols, Aether as well. With our learnings and experience in this sector, we are proud to release our ConsumerTech sector report, the first in a 3-part series that captures deep insights.” “Digital today is ubiquitous and its usefulness is increasing every day.  With a plethora of information, services, and options now available to people at their fingertips, consumers are looking for personalized digital experiences. These consumer expectations extend to Tier 2+ consumers who have embraced technology and have an even greater openness to experimentation with new brands and products, and the willingness to spend on personalization and premiumization.The rapid evolution of AI presents an incredible opportunity for businesses to engage with their consumers in newer, more meaningful ways that deliver effective purchase outcomes whilst also responding to their need for privacy.” said Roma Datta Chobey, Managing Director – Digital First Businesses, Google India Decoding the Indian Consumer  Growing digital adoption in India has led to increased smartphone usage, higher digital spending, and a rapidly scaling shift from offline to online.  India’s lower-income and Tier II and III cities are rapidly adopting digital technology and are aware of the various platforms/apps.  As per the survey findings, consumers, on average, dedicate over four hours daily to their smartphones. The fintech apps dominates usage, with 77% of respondents leveraging it, primarily due to robust security features and a user-friendly interface. Following closely, entertainment apps capture a significant share at 70%, with on-demand services being perceived as essential expenses in the daily lives of about 70% of consumers. Gaming, e-commerce, and healthtech are also gaining traction among Indian digital consumers. Online and professional gaming is on the rise in India, with an increasing number of active female gamers (~60%). The growth of the e-commerce sector is seen due to the shift from offline to online channels for apparel and groceries because of the discounts and offers available. Lastly, healthtech is growing at a CAGR of ~40%, with online pharmacy being the most used platform in metro and Tier I cities. Roma Dixit, Director, Financial Services, 1Lattice, sums up ConsumerTech industry, “This report delves into India’s ConsumerTech trends, emphasising five pillars: population scale, product innovation, digital infrastructure, vertical integration, and omnichannel presence. With a current market worth $100 billion and an expected surge to $300 billion by 2027 (CAGR 25%), India’s ConsumerTech isn’t a fleeting but a substantial force. This growth potential is underscored by the ambitions of Indian homegrown startups, driven by robust revenue growth and eyeing global expansion, fuelled by an ever-growing digital native user base.” About Chiratae Ventures: Chiratae Ventures is a 17-year-old Indian technology venture capital fund advisor, having advised funds that collectively (across six funds) have $1.18 Bn AUM, 130+ investments, 50 exits, 9 Unicorns, 3 IPOs and a track

Chiratae Ventures, a prominent venture capital firm from India, is pleased to announce the appointment of Mr. Ken Shibusawa from Japan to its esteemed Asia Advisory Board, reaffirming its dedication to the larger Asian market.

Chiratae Impact Report 2023 October 9, 2023 Mumbai : Chiratae Ventures focus on key developmental thematic areas are contributing to 12 of the 17 United Nations Sustainable Development Goals, helping to bridge the gap in India’s development targets. In its latest Impact Report, launched earlier this week by Kris Gopalakrishnan, Chairman, Axilor Ventures, and Co-founder of Infosys and Manish Choksi, Vice-Chairman, Asian Paints. Chiratae highlights the impact created by its portfolio companies and their contribution towards United Nations Sustainable Development Goals (UN SDGs). The report captures cumulative self-reported data of Fund III and IV portfolio companies (that reported data) since Chiratae first invested. It also captures key highlights for the financial year 2023 (April’22 – March ’23). Chiratae measures the impact created by its portfolio quarterly and periodically reports it to its investors and stakeholders. Chiratae’s impact strategy centres around six key developmental thematic areas: Under-served Geographies, Under-served Target Groups, Gender Equality, Climate Action, Employment and Employability, and Support for Nano-entrepreneurs & MSMEs. The third edition on the report highlights the accomplishments of its portfolio  companies in Fund III and Fund IV. Together, they have positively impacted approximately 92.7 million individuals in India and have provided crucial support to around 3.9 million farmers through innovative technology solutions with a notable focus on gender inclusivity, as 42% of beneficiaries are female.  The report also captures that in the healthcare sector, Chiratae’s portfolio companies have addressed the eyewear needs of around 23 million people and provided approximately 24 million free vision tests, promoting well-being and accessibility. Chiratae’s Fund IV has been proudly recognised as a “2X investment” under the “Fund” criteria by one of our Development Finance Institute (DFI) LP – set forth by the 2X Challenge (financing for women).    Additionally, its portfolio companies dedicated to advancing agricultural technology have made significant inroads, reaching 3.9 million farmers, with 2.1 million smallholders in India. Its portfolio is also actively promoting financial inclusion in India, facilitating approximately 1.4 million loans in FY23. Furthermore, their reach in inclusive finance extends to over 14.8 million people, with 23% residing in tier 2 and smaller towns in India.  On the report’s launch, Sudhir Sethi, Founder and Chairman, of Chiratae Ventures stated, “Our portfolio has strengthened the grasp on Tier 2 and smaller towns in India, thereby wiring innovations and technologies into the grassroots levels of our country. Noteworthy and impactful insights from our investments reveal that for every dollar Chiratae invested, more than two units/transactions were enabled. Furthermore, every $7 investment positively impacted a female customer or female-owned business, and every $4 investment influenced the life of more than one stakeholder customer, employee, business enterprise, supplier, or trainee.” In consonance with Chiratae’s dedication to responsible investing, both Funds III and IV are fully ESG-integrated. This comprehensive approach seamlessly incorporates environmental, social, and governance considerations throughout the investment cycle. By doing so, we can effectively identify, manage, report, and monitor risks and opportunities, thus safeguarding against potential threats.   Note: All the impact data in the disclosure has been self-reported by investees and is cumulative impact unless otherwise mentioned. About Chiratae Chiratae Ventures is a 17-year-old Indian technology venture capital fund advisor, having advised funds that collectively (across 6 funds) have $1.2 Bn AUM, 130+ investments, 50 exits, 8 Unicorns, 3 IPOs and, a track record of having returned capital to LPs in each of the last 12 years. The funds advised by Chiratae Ventures have investments across sectors such as Consumer-Tech, SaaS, Fintech, and Healthtech and have been early backers of companies such as Myntra, Flipkart, Lenskart, FirstCry, CureFit,PolicyBazaar, Bizongo, Uniphore, Pixis, and Fibe, amongst many others. www.chiratae.com. L- R: Manish Choksi, Aarti Kalra Monga, Pavan B K, and Kris Gopalakrishnan

The Thrive Report presents a comprehensive overview of the impactful work undertaken by Chiratae Thrive Fund with the Sethi Foundation, Siva and Royan Foundation to mitigate the far-reaching impact of the Covid-19 pandemic with the intention of alleviating distress within the Chiratae community and the broader ecosystem.​

The Chiratae Impact Report talks about the meaningful impact that is being created by Chiratae’s portfolio companies across sectors, by way of reaching those previously underserved, bringing down costs, increasing access, and improving quality, while also scaling successfully through disruptive technologies.

In today’s rapidly evolving technological landscape, artificial intelligence (AI) and generative models have become the cornerstone of innovation. Over the past few months, GenAI has garnered significant attention, making this an opportune moment to delve into it in depth.

As the CTO of Chiratae Ventures, a fund deeply rooted in supporting startups that build for population scale, we wanted to have a larger discussion around GenAI and the potential of this technology, its scale and the future we envision it to impact.

Chiratae adds Puneet Pushkarna to SEA Regional Advisory Board August 25, 2023 Bangalore: Chiratae Ventures, a leading venture capital firm, announces the appointment of Mr. Puneet Pushkarna to its esteemed Regional Advisory Board, reinforcing its commitment to the Southeast Asia (SEA) market. The announcement comes soon after Chiratae’s significant milestone -its active portfolio companies surpass $650 million in revenue. Companies focusing on SEA or headquartered now contribute about 45% of the total international revenue across the company’s diverse portfolio. Companies such as Active.ai, Kristala.ai, and Lenskart have driven growth in the SEA market, with Lenskart’s strategic acquisition of Japan’s Own Days last year as a recent highlight. Given the growing significance of SEA as an investor base and a burgeoning market, Chiratae Ventures has been active in the region, particularly in Singapore and Japan. The appointment of Puneet Pushkarna to the Regional Advisory Board reinforces Chiratae’s dedication to its growth and success in SEA. Puneet will provide strategic guidance to Chiratae’s international operations in this role. Sudhir Sethi, Founder and Chairman of Chiratae Ventures, shared, “With a strong foothold in the SEA market and our portfolio companies, either focusing on the region or being headquartered there, contributing over 45% of the total revenue, we are thrilled to welcome Puneet Pushkarna to our Regional Advisory Board. Puneet’s addition further bolsters our already formidable Advisory Board, whose collective efforts have significantly established Chiratae as one of India’s premier venture capital funds. His exceptional expertise and diverse background will undoubtedly guide our ventures to even greater heights within the Asian market while fostering stronger connections with our esteemed investors.” Puneet Pushkarna brings a wealth of experience, currently serving as a General Partner at Solmark, a prominent private equity fund based in Singapore. Throughout his career, Puneet has excelled in nurturing and scaling companies in the competitive global landscape. He previously held the position of President at Headstrong, driving transformative initiatives in the Capital Markets domain through cutting-edge digital technology services. Additionally, Puneet co-founded TechSpan, backed by the prestigious institution Goldman Sachs, where he successfully led business solutions consulting and design thinking ventures, earning recognition as one of the fastest-growing companies in Silicon Valley. Beyond his business acumen, Puneet is deeply involved in various Boards and Advisory Boards, including his role as Chairman of Core Committee, RIE2025, National Research Foundation, Singapore, Chairman Emeritus of TiE Singapore, and as a Board member of IIM Nagpur and Industry Advisory Board of SP Jain School of Management. Additionally, Puneet serves as a Catalyst at SMART (Singapore MIT Alliance for Research & Technology) and actively engages in philanthropic efforts, supporting initiatives such as the Indian Foundation for the Arts (IFA), the Singapore Indian Fine Arts Society (SIFAS), and the South Asian Heart Society. Puneet Pushkarna shared his excitement for the new role, adding, “I am honoured to join Chiratae Ventures and contribute to the growth of the platform they have built over close to two decades and its dynamic portfolio in Asia region. There are strong benefits for the Asian block to partner, invest and grow exponentially by understanding each other’s strengths and hope to bridge the gap. The Indian model of solving for population-scale problems using technology-led business models has relevance for the larger region and hoping to help Chiratae and its portfolio expand its regional footprint” Anoop Menon, Principal-Investments who also leads Investor Relations in the East Asian region, says, “With the changing geo-political environment and India’s blistering economic growth, India has become a strong contender for increased investments and business partnership within Asia. Along with this, there is a strong need to contextualise the India narrative by a leader who has seen both sides closely, and Puneet helps us do that. Having him on our Advisory Board provides a valuable sounding board for our team and founders as we navigate the markets in Singapore, Japan, and other regions of Asia Pacific.” Chiratae Ventures, recently announced the final close of its first Growth fund at $122 M, oversubscribed by 34% and is in the market for its next flagship Venture capital fund. It will continue looking to cement its presence in SEA and the larger Asian region, and Puneet will help strengthen the firm’s position as a leader in the Venture capital landscape. About Chiratae Ventures:Chiratae Ventures is a 16-year-old Indian technology venture capital fund advisor, having advised funds that collectively (across six funds) have $1.1 Bn AUM, 130+ investments, 48 exits, 8 Unicorns, 3 IPOs and a track record of having returned capital to LPs in each of the last 12 years. The funds advised by Chiratae Ventures have investments across sectors such as Consumer-Tech, SaaS, Fintech, and Healthtech and have been early backers of companies such as Bizongo, Fibe, FirstCry, Flipkart, Lenskart, Myntra, Pixis, PolicyBazaar and Uniphore, amongst many others.

B2B Marketplaces are a huge untapped opportunity in India, with equal interest from founders and investors alike. The article goes over why B2B Marketplaces are an attractive space, how we as investors evaluate them, and what are the different ways in which they can scale, with a case study on Bizongo, a B2B Marketplace in the packaging and apparel industry.

Music has been the soul that has driven civilisations since aeons and India has been at the forefront of musical revolution. From the breadths of Kashmir to Kanyakumari and in the past century music from India has been globalised to every corner of the world with the advent of internet accelerating the boom exponentially. Today we believe the total size of music learners is more than …..

‘Mega M&A’ has been a big chatter topic for the past few weeks in the technology world. While in the US, everyone has been discussing if the next home for their favourite Tiktok videos would be Microsoft or Twitter…..

Chiratae Ventures leads the Series A round in agri-tech startup — Ergos along with existing investor Aavishkaar Capital. Below is the story…

2021 was a landmark year for the Indian SaaS space, with the industry witnessing 50% growth in revenue and 3X growth in venture capital funding – which the Chiratae-Zinnov SaaS report had predicted last year. Hardly four months into 2022, India has already produced nearly the same number of SaaS unicorns as it had in the whole of 2021, suggesting that the tailwinds will continue strongly, this year too.

The Chiratae Impact Report talks about the meaningful impact that is being created by Chiratae’s portfolio companies across sectors, by way of reaching those previously underserved, bringing down costs, increasing access, and improving quality, while also scaling successfully through disruptive technologies.

Indian SaaS shows remarkable resilience, with steady growth projected for 2023 and beyond June 07, 2023 Continued momentum in the creation of SaaS unicorns will propel India to surpass China and become the 2nd largest SaaS nation in the world expected to cross the USD $100 Bn milestone by 2026 India on track to leapfrog China and become the 2nd largest SaaS nation by 2026 Next wave of digital talent expected from tier-2 and tier-3 cities Investments in Indian SaaS grew 3X to over USD $4 Bn in 2021; expected to top USD $6.5 Bn this year Bangalore, 7th June 2023: The Indian SaaS industry’s resilience shines bright in the face of a stiff funding winter, defying expectations with a projected ~2.5X growth to reach USD 26 Bn in revenues by 2026. According to “India SaaSonomics: Navigating Growth and Efficiency,” the latest edition of the India SaaS report, jointly done by Chiratae and Zinnov, Indian SaaS companies are doubling down on growth (revenue generation) while ensuring operational and capital efficiency. Global Recession – A Concern but Not a Deterrent for Indian SaaS Though concerns of a recession loom large, the Indian SaaS industry has displayed remarkable antifragility to withstand turbulent times. In a recent survey by Chiratae Ventures and Zinnov, an overwhelming 93% of the founders surveyed, anticipate an increase in revenues in the next 12 months. Amidst the wariness of global macro-economic headwinds, 9 out of 10 investors continue to believe in the India advantage and are betting on existing and newer growth areas. While the world and India – to some extent – witnessed layoffs, 96% of the Indian SaaS unicorns and potential unicorns grew their headcount throughout 2022. In a remarkable contrast, US tech start-ups announced 3X higher layoffs than their Indian tech counterparts between January 2022 and March 2023. Despite a widely acknowledged funding winter in the Indian start-up ecosystem, seed-stage funding witnessed a 1.5X increase, while early-stage funding experienced a notable 1.6X surge in value during 2022. In fact, Indian SaaS start-ups secured 3X more funding in 2022 compared to 2019, demonstrating a steady CAGR of 47% . However, the decline in SaaS company valuations in the public markets has greatly affected private markets, driving down late-stage funding. But stable deal volumes in Q1 2023 indicate that the funding slowdown for Indian SaaS companies has bottomed out, signalling a gradual recovery to look forward to in the upcoming quarters. The Numbers Game – Indian SaaS witnesses a Normalization Housing 1650+ funded SaaS start-ups, India also witnessed a surge in the number of companies surpassing the USD 1Mn+ ARR in 2022. 2022 was also a record-breaking year with ~280 SaaS companies clocking in revenues between USD 1Mn – USD 10Mn, a significant leap from previous years. Notably, global public valuation multiples, which were accelerated by the pandemic, underwent corrections in 2022. However, they have shown a gradual recovery since October 2022, with today’s median valuation multiple standing at 6.6X. Although slightly lower than the pre-pandemic median, this trend indicates that Indian SaaS valuation multiples have displayed higher resilience compared to their global counterparts and that the impact of macro-economic variables are less pronounced on them. These numbers evidence the fact that the Indian SaaS ecosystem exhibits greater resistance to economic shocks in comparison to global markets. They also underscore the unwavering belief that founders and investors have in the industry’s potential for growth and success. The India advantage also extends to key opportunity areas – DevOps, Cybersecurity, and Vertical SaaS – which will lead the next phase of growth and innovation across SaaS categories. India has emerged as a disruptor in the global DevOps market, becoming the number one contributor to global AI-related GitHub repositories, a function of 10% of the global developer base being located here. Furthermore, the increasing global VC funding in Cybersecurity, coupled with the rapidly evolving threat landscape, presents Indian SaaS companies an opportunity to create and offer innovative Cybersecurity solutions. Vertical SaaS also emerges as an attractive investment opportunity, as 80% of the investors surveyed are more likely to invest in Vertical SaaS start-ups in 2023 as compared to the previous year. India’s 70Mn+ SMBs present a lucrative opportunity for Vertical SaaS players to dive into. With approximately 16% of the global AI workforce, India takes the lead in AI product development and emerges as a frontrunner in the latest global trend of Generative AI. This demand arises from a heightened focus on enabling customer experience and content generation, and is being serviced by the 800+ Indian start- ups focused on this technology. The global Generative AI market projected to reach USD 110 Bn by 2030 makes for an attractive investment area in 2023 and beyond. Moreover, India’s emergence as a leading player in the global Web 3 market, further solidifies its position. With 11% of the global Web 3 talent in India growing at the fastest rate, this investment theme is hard to miss in the coming years. On the report’s launch, Sudhir Sethi, Founder and Chairman, Chiratae Ventures stated, “We are excited to present the India SaaS report. The SaaS industry in India has hit global scale, and Chiratae leads that scale. Through our advised funds, we have invested over $160M in over 35+ SaaS companies, supporting and nurturing notable names such as Pixis, Uniphore, Hevo Data, Healthplix, Pando and Deepfence to name a few, which have eventually gone on to raise more than ~$850M in follow on capital. We have seen successful exits in this sector, including IPO (Newgen), secondary sales (Hevo Data, Uniphore, Manthan), and acquisitions (UnBxD, CloudCherry, Netcore).” On the launch of this report, Venkatesh Peddi, Managing Director at Chiratae Ventures, and head of SaaS investments stated, “The steadfastness of the Indian SaaS industry, coupled with its ability to adapt to changing market dynamics, has led to its outperformance on a global scale. Given India’s robust foundation, presence of visionary leaders, and strategic exploration of key sectors, we predict that the Indian SaaS industry is

Presenting Chiratae Sonic, our flagship seed program with an accelerated process of decision making for companies raising seed funding. Chiratae Sonic is for entrepreneurs who are raring to scale up quickly with their disruptive tech ideas. We aim to provide you with an accelerated process of raising the seed investment for your tech business

Presenting Chiratae Sonic, our flagship seed program with an accelerated process of decision making for companies raising seed funding. Chiratae Sonic is for entrepreneurs who are raring to scale up quickly with their disruptive tech ideas. We aim to provide you with an accelerated process of raising the seed investment for your tech business

Presenting Chiratae Sonic, our flagship seed program with an accelerated process of decision making for companies raising seed funding. Chiratae Sonic is for entrepreneurs who are raring to scale up quickly with their disruptive tech ideas. We aim to provide you with an accelerated process of raising the seed investment for your tech business

Presenting Chiratae Sonic, our flagship seed program with an accelerated process of decision making for companies raising seed funding. Chiratae Sonic is for entrepreneurs who are raring to scale up quickly with their disruptive tech ideas. We aim to provide you with an accelerated process of raising the seed investment for your tech business

Chiratae Ventures Maiden Growth Fund-I announces its close at INR 1001 cr, oversubscribed by 34% May 03, 2023 To invest in growth opportunities, startups raising Series C and beyond rounds, and new opportunities. Made first growth-led investment of INR 100 crores in Lenskart. Bengaluru | May 3rd, 2023: Chiratae Ventures, India's largest homegrown venture capital fund, has successfully concluded the fundraising for its first Chiratae Growth Fund (CGF-I), raising INR 1001 cr. On a targeted INR 750 crore, CGF-I has been oversubscribed by 34%. The announcement of the close of CGF-I comes on the heels of Fund 4, which was oversubscribed by 22%. This marks a continued trend of Chiratae’s funds being oversubscribed, highlighting the confidence and faith placed in the firm’s ability to identify and nurture promising startups poised for growth and success.CGF-I will invest in the growth rounds of market-leading technology startups from its portfolio and other new opportunities, making it a sector-agnostic fund to support the growth and expansion of companies.CGF-I is supported by Chiratae’s existing investors, including Pratithi (Family Office of Kris Gopalakrishnan, the Co-Founder of Infosys), 57 Stars (a global alternative asset manager) and Manish Choksi (Vice Chairman and non-executive board member of Asian Paints) and his Family Office and, new investors including State Bank of India, IIFL, Axis Bank and others. With this new CGF-I, Chiratae Ventures will continue its mission of supporting innovative technology startups in their growth stage and unlocking their potential. Chiratae Ventures has a successful track record of investing in early and growth-stage startups over the past 16 years. The Chiratae Funds collectively (across 6 funds) have $1.1 Bn in AUM, 130+ investments, 48 exits, 8 Unicorns, 3 IPOs and a track record of having returned capital to the investors in each of the last 12 years. Chiratae Ventures has been an early backer of technology-led companies such as Bizongo, Curefit, Fibe, Firstcry, Lenskart, Myntra, PolicyBazaar, Pixis, Vayana, and Uniphore, amongst others. Sudhir Sethi, Founder and Chairman of Chiratae Ventures, said, “We are excited to have raised our first Growth Fund, enabling us to continue supporting the growth and expansion of market-leading technology startups in India and beyond. The oversubscription of the fund by 34% is a testament to the trust and confidence our investors have placed in us. As we embark on this exciting new chapter, we remain committed to identifying and investing in innovative startups that have the potential to drive transformative change and create long-term value. Thank you to our existing investors Pratithi (Family Office of Kris Gopalakrishnan, the Co-Founder of Infosys), 57 Stars (a global alternative asset manager) and Manish Choksi (Vice Chairman and non-executive board member of Asian Paints) and his Family Office and, we welcome the new ones, State Bank of India, IIFL, Axis Bank and others.” On closing the Chirataes’ first Growth Fund, TC Meenakshi Sundaram, Founder and Vice-Chairman of Chiratae Ventures, said, “The successful fundraising for Chiratae’s First Growth Fund is a testament to the quality of the investment strategy and our team’s ability to identify and support exceptional entrepreneurs. With the Growth Fund -I, we are well-positioned to continue to support promising startups through their growth journey and create value for all stakeholders by becoming market leaders. We thank all our investors for their continued support to Chiratae.” About Chiratae Ventures:Chiratae Ventures is a 16-year-old Indian technology venture capital fund, which collectively (across 6 funds) have $1.1 Bn AUM, 130+ investments, 48 exits, 8 Unicorns, 3 IPOs and a track record of having returned capital to LPs in each of the last 12 years. The Chiratae funds have investments across sectors such as Consumer-Tech, SaaS, Fintech, and Healthtech and have been early backers of companies such as Myntra, Flipkart, Lenskart, FirstCry, PolicyBazaar, Bizongo, Uniphore, Pixis, and Fibe, amongst many others.Chiratae Ventures is a 16-year-old Indian technology venture capital fund, which collectively (across 6 funds) have $1.1 Bn AUM, 130+ investments, 48 exits, 8 Unicorns, 3 IPOs and a track record of having returned capital to LPs in each of the last 12 years. The Chiratae funds have investments across sectors such as Consumer-Tech, SaaS, Fintech, and Healthtech and have been early backers of companies such as Myntra, Flipkart, Lenskart, FirstCry, PolicyBazaar, Bizongo, Uniphore, Pixis, and Fibe, amongst many others.Chiratae Ventures’s Global Advisory board consists of esteemed personalities such as Mr Ratan Tata (Chairman), Mr Kris Gopalakrishnan, Mr Manish Choksi (Vice Chairman Asian Paints), Mr Bruno Raschle (Founder Adveq Zurich), Dr Andreas Hettich (Chairman Hettich Corporation Germany) and Dr Ferzaan Engineer (Founder Cytecare and Nightingale).

Indian SaaS to reach USD $ 100 Bn in revenues by 2026 April 19, 2022 Continued momentum in the creation of SaaS unicorns will propel India to surpass China and become the 2nd largest SaaS nation in the world expected to cross the USD $100 Bn milestone by 2026 India on track to leapfrog China and become the 2nd largest SaaS nation by 2026 Next wave of digital talent expected from tier-2 and tier-3 cities Investments in Indian SaaS grew 3X to over USD $4 Bn in 2021; expected to top USD $6.5 Bn this year Bangalore: The Indian SaaS juggernaut is experiencing a ‘coming-of-age’ moment, with an incredible bull run that has firmly anchored its position on the global stage. The SaaS industry is set to clock in a massive USD $ 100 Bn in revenues by 2026. This was underscored by the 2022 edition of the Chiratae-Zinnov India SaaS report titled, “India SaaS – Punching Through the Global Pecking Order.” As the industry has matured, profitability has become a realistic milestone for SaaS companies, and they have cracked the Enterprise conundrum with over 40% revenue contribution. On the global stage, India is gearing to supersede China as the second largest SaaS nation in the next few years. Key Facts and Figures SaaS Industry: 1,150+ Active Firms, USD $8 Bn revenue in 2021, expected to cross the USD $100 Bn milestone by 2026 India on track to leapfrog China and become the 2nd largest SaaS nation by 2026 Next wave of digital talent expected from tier-2 and tier-3 cities Investments in Indian SaaS grew 3X to over USD $4 Bn in 2021; expected to top USD $6.5 Bn this year The report identifies the key attributes that have accelerated the success of the SaaS industry – ‘SPARK’ – Supportive Policies, Proven Global Caliber, Abundant Liquidity, Rearing Domestic Talent, and Kindled Exit Options. Today, leading SaaS firms have been at the forefront of localizing innovation by putting robust engineering and product teams in the top markets that they are catering to. The focus for the firms is to capitalize on the overall value delivered to consumers, thus improving their propensity to pay. The early SaaS companies are attracting unicorn valuations and also successfully listing on the public markets. These successes, coupled with stronger fundamentals and the path to profitability, are making SaaS companies in India an attractive investment theme. The industry aims to attract a strong private capital infusion of close to USD $ 6.5 Bn in the coming year alone, notes the report. Key findings on the year gone by a.Indian SaaS witnessed massive growth at a ~55% CAGR in 2021, with revenues well-poised to cross USD $ 100 Bn by 2026< b.The next wave of digital talent is expected from tier-2 and tier-3 cities; a vast pool of ~3 Mn+ digitally skilled workforce will be the perfect munition for SaaS companies to scale up in the coming years c.The tremendous growth in the sector as well as the significant reduction in the time to achieve unicorn status have created ~90% of all SaaS unicorns in the last four years alone, with the potential for many more in the offing, thus adding to a large pool of Soonicorns d.Post surpassing UK this year in the number of SaaS unicorns, India is all set to leapfrog China and become the 2nd largest SaaS nation by 2026 e.The various pro start-up policies will play a key role in attracting more founders and investors. On the launch of this report, Sudhir Sethi, Founder and Chairman, Chiratae Ventures, stated, “India is a global SaaS leader, and Chiratae Ventures has been fortunate to be at the center of this surging momentum, with over 35 SaaS companies in our portfolio like Uniphore, which recently raised USD $ 400 Mn, and others like Pixis, Hevo Data, Healthplix, CropIn, Pando, Deepfence, and Squadcast which are valued over USD $ 3.5 Bn and last year overall raised USD $ 600 Mn. Chiratae predicts that investments in Indian SaaS will continue to grow at a massive pace with the revenue poised to cross USD $ 100 Bn by 2026.” Pari Natarajan, CEO, Zinnov, said, “2021 was a watershed year for Indian SaaS – including exponential valuations, successful IPO debuts, a vast influx of VC investments, and an unprecedented number of unicorns. Not only have Indian SaaS companies come of age, but they have also been at the forefront of creating new for India and new for the world products, led by visionary founders and a critical mass of engineering and product teams serving this purpose. All this has firmly put Indian SaaS on the global stage, and on the path of crossing the milestone of USD $100 Bn in revenue by 2026. In fact, India is fast emerging as a clear leader in SaaS, and will supersede China to become the second largest SaaS nation in the next few years.” The report identifies Cloud Security, Cloud-Native Enablers, Hyper Intelligent Automation, Web3, and Verticalized solutions as key areas of interest for investors in 2022 and beyond. Some of the key SaaS categories expected to gain traction in 2022 and beyond are: Cloud-Native:is an approach to building and running applications as a Cloud-based delivery model, which is expected to accelerate modern application development based on its various advantages. VC investments in this space are exceeding USD $ 7 Bn in funding, giving rise to many unicorns in the segment Hyper Intelligent Automation:the new avatar of Automation, has become a top CXO priority within enterprise digital transformation charters. With a 15-20% growth forecasted in digital transformation spend, Automation platforms are attracting immense interest from investors Web3:based on Blockchain, is another segment garnering a lot of attention from investors. Perceived as a compelling SaaS opportunity, areas such as Data Analytics, DevTools, and Security have bubbled up Verticalized SaaS is also gaining popularity for solving industry-specific use cases. The global VC funding in this category exceeded USD $ 11 Bn in 2021 You

Indian FinTech market is expected to be $1 Tn in AUM and $200 Bn in revenue by 2030 December 26, 2022 Mumbai, August 09, 2022: According to a report released by Chiratae Ventures in collaboration with Ernest and Young (EY), the Indian Fintech market is expected to record a 10X growth to achieve $1Tn in Assets Under Management (AUM) and $200Bn in revenue. The report titled ‘$1 Tn India FinTech Opportunity’highlighted that much of the growth will be driven in the digital lending market, which is expected to grow to $515 Bn in book size by 2030. Market expected to reach $1Tn in AUM with contribution from lending to be highest at 50%+, while from a revenue standpoint payments and lending make 75%+ of the pool Payments, Digital Lending, WealthTech, InsurTech, and Neo-banking will all be contributing to growth in the FinTech space with Agri+FinTech and Prop+FinTech considered to be big bets New asset classes, Crypto & NFT will continue to attract investor interest Regulatory support will enable the industry further as already established models go international through collaborations With 5X growth in the digital tech talent, India has the opportunity to address the global digital skill gap and establish itself as the destination of digital and tech talent India is now being recognized as one of the largest FinTech unicorn ecosystems, home to 21 FinTech Unicorns as of March 2022. An organic and collaborative ecosystem is driving this growth, which is being supported by key government initiatives, such as Digital India, Smart City, the development of UPI and other initiatives. Tailwinds due to favorable demographics, growing technology adoption, higher disposable incomes and an aware customer is further fuelling this growth. Fintechs have been innovating in product and delivery to cater to the evolving needs of the customers. On the launch of the report Sudhir Sethi, Founder, and Chairperson, Chiratae Ventures said, “The Indian Fintech market has been a formidable global force, contributing to the largest share of unicorns in India. We have been a technology first investor believing in the power of both data and technology and hence have backed companies such as EarlySalary, Kristal.ai, PB Fintech, ShopSe and Vayana amongst others” Key trends in the supporting ecosystem are: Regulatory environment: actively encouraging innovation through regulatory sandboxes, new distribution models, and the launch of innovative products; The Metaverse: Global metaverse is still nascent with a significant runaway ahead, FinTechs have started to innovate to tap into business opportunities exploring various use cases Financial inclusion: Innovative solutions are being deployed to serve Tier 3+ markets, enabled through India stack. India as a hub of FinTech and talent: With a 5X growth in digital tech talent, India has the opportunity to address the global digital skill and establish itself as the destination of digital and tech talent FinTech becoming a horizontal: Due to emerging technology, changing cultural trends and a favourable regulatory landscape, FinTech has been growing beyond boundaries with clear intersections seen in Agriculture, Retail, Health as well as Prop Tech “FinTechs have innovated for the underserved financial markets through a strong and supportive ecosystem, which will continue to keep accelerating growth and penetration of Fintech in India. These include fast-growing digital adoption and mobile penetration on the back of the cheapest data rates in the world offered by private telecom players, to enabling regulatory environment coupled with world-leading digital infrastructure (Aadhar, UPI, BBPS etc.), and structural reforms and initiatives (GST, TReDSetc.). We also expect FinTechs to continue solving for the substantial and growing sub-markets with novel solutions,” said TC Meenakshi Sundaram, Co-Founder and Vice Chairperson, Chiratae Ventures. The report also highlights that Buy Now Pay Later has become mainstream and is on an accelerated growth trajectory, emerging strong not only in B2C but also B2B payments space. Co-lending to emerge as a preferred model that supports lending partners to mitigate their risk exposure. New asset classes, Crypto & NFT will also continue to attract investor interest as fintechs continue to solve for traditionally underserved customers. Technology based Innovation on underwriting side of the insurance value chain will help deliver solutions for the highly unpenetrated market at affordable rates. Rajiv Memani, Chairman and Managing Partner, EY India said: “India is recognized as a strong FinTech hub globally and is increasingly becoming a talent destination for fintech businesses. We are glad to partner with Chiratae Ventures and delve into the emerging trends in regulatory innovation, technology advancements, new business models, industry convergence, and inclusive digital financial services in the Indian fintech space.” About Chiratae Ventures Launched in 2006, Chiratae Ventures India Advisors is India’s leading technology Venture Capital funds advisor. The funds advised by Chiratae Ventures India Advisors collectively have over $1Bn under management and 125+ investee companies across SaaS, Consumer Media & Tech, Health-tech, and Fin-tech. The fund has been an early backer of Cure.fit, FirstCry, Flipkart, Globalbees, Lenskart, Manthan, Myntra, Uniphore and has invested in leaders like AgroStar, Bizongo, Bounce, Cropin, EarlySalary, GoMechanic, HealthifyMe, Hevo Data, PolicyBazaar, Pyxis, Vayana, amongst others. Chiratae closed its fourth fund, oversubscribed at $337 million in 2021. The team has delivered value for its investors through the years with over 43 exits, 3 IPOs and 8 Unicorns. About EY EY is a global leader in assurance, tax, strategy and transactions and consulting services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.This news release has been issued by EY Services Limited, a member of

The Chiratae Impact Report talks about the meaningful impact that is being created by Chiratae’s portfolio companies across sectors, by way of reaching those previously underserved, bringing down costs, increasing access, and improving quality, while also scaling successfully through disruptive technologies.

2021 was a landmark year for the Indian SaaS space, with the industry witnessing 50% growth in revenue and 3X growth in venture capital funding – which the Chiratae-Zinnov SaaS report had predicted last year. Hardly four months into 2022, India has already produced nearly the same number of SaaS unicorns as it had in the whole of 2021, suggesting that the tailwinds will continue strongly, this year too.

CropIn Technology raises $8 million from Chiratae Ventures, Gates Foundation November 20, 2018 New Delhi: CropIn Technology Solutions Pvt. Ltd, which provides agri-businesses with farm management software and mobile apps, has raised $8 million in a Series B funding round from Chiratae Ventures (formerly IDG Ventures) and the Bill and Melinda Gates Foundation Strategic Investment Fund, the company said on Tuesday. The Bengaluru-based company had previously raised $4 million from investors including BEENext, Invested Development, Denmark-based Sophia Investment, Ankur Capital and BSP Fund LLC. The Bill and Melinda Gates Foundation has also backed Indian agri-tech startup Stellapps. Founded in 2010 by Krishna Kumar, Kunal Prasad and Chittaranjan Jena, CropIn is a SaaS based service provider for agri-businesses. It enables data-driven farming through the ‘SmartFarm’ platform, which helps derive real time insight on standing crop and projects across geographies based on local weather information and high-resolution satellite imagery. The company plans to utilise the fresh funding to strengthen its technology and machine-learning platform, expand to over 10 million acres of land and reach seven million farmers in India and globally. “To feed the 9.7 billion people in the world in 2050, agriculture efficiency must increase by 35% – 70% and technology is the key. India’s rich mix of farming practices and small landholdings provide a massive data set to inform our models,” said Kumar, co-founder and chief executive officer at CropIn. CropIn claims to use Big Data analytics, artificial intelligence and remote sensing to analyze data for 265 crops for agriculture processors, distributors, inputs providers, lenders and insurers through its APIs. The start-up is also building an agri-information dataset to detect patterns and predict the future of a variety of crops. CropIn’s clientele include PepsiCo, Mahindra & Mahindra, ITC, and McCain along with banks, government bodies and development agencies. It is present in 29 countries including across South East Asia, Europe and Africa and has engaged with nearly 2 million farmers holding 3 million acres of land in farm management, crop cycle monitoring, harvest and brings in produce traceability from farm to fork. According to the company, the global market of digital-based agriculture services is estimated at $4.5 billion by 2020. Other players in the agri-tech industry include Aibono, Intello Labs and Matrix-backed Gobasco. “The potential to revolutionize agriculture leveraging technology and machine learning has never been greater,” said Karan Mohla, executive director at Chiratae Ventures. CropIn has grown three times year-on-year, added Kumar. Last year, the company also invested $5 million in building digital platform ‘Smart Risk’ for microfinance, banking and non-banking institutions to identify and minimise the risk in lending and insurance business.

Bike Sharing Startup Bounce Raises $7 Mn Led By Chiratae January 24, 2019 The fresh round was participated by Chiratae Ventures, Accel India, Sequoia India The company claims to have a fleet of more than 1,000 bikes Bounce acquired assets of dockless bicycle sharing platform Ofo in India in 2018 Bounce, a bike and scooter rental platform has raised over $7 Mn in a Series B round. Chiratae Ventures, Accel India, Sequoia India and On Mauritius participated in the Series B round. Here’s a breakdown of the latest funding round according to a RoC filing seen by Inc42 IDG Ventures India Fund III LLC invested in 115.73K shares worth INR 20.99 Cr ($2.94 Mn) Vistra ITCL (India) Ltd invested in 77.14K shares worth INR 14 Cr ($1.96 Mn) Accel India V (Mauritius Ltd) invested 38.59K shares worth INR 7 Cr ($980.8K) SCI Investments invested 38.59K shares worth INR 7 Cr ($980.8K) On Mauritius invested 7,951 shares worth INR 1.5 Cr ($210.17K) According to the filing with MCA, the company raised the funds on December 27, 2018. The fresh capital infusion comes after Sequoia and Accel led $12.2 Mn (INR 84.64 Cr) Series A funding round in August last year. After the Series A round, the company also rebranded itself from Metro Bike to Bounce. Last month, a TechCircle report claimed that Bounce is in talks to raise a bigger round of about $50 Mn. The company had acquired assets of Alibaba-backed dockless bicycle sharing platform Ofo that had shut down its operations in July 2018 in India. The move signals that the company may foray into the bicycle sharing segment soon. Founded as Wicked Rides in 2014 by Vivekananda HR, Varun Agni and Anil G, the company offers premium motorcycles for rent under the Wicked Rides banner, and commuter bikes under the Bounce brand. The company aims to solve last-mile connectivity problem and claims to have a fleet of more than 1,000 bikes. It allows users to pick up scooters from locations closest to them and drop them at end-trip spots, priced by the hour and distance. Bounce currently offers its services in select areas of Bengaluru, Hyderabad, Mysore, Jaipur, Udaipur, Belagavi, Manipal, Jaisalmer, Gokarna, and some other cities. The startup has tied up with the Bengaluru Metro Rail Corporation Ltd (BMRCL) and provides bike rentals at metro stations across the city. It plans to work on improving its delivery models and expand to other major cities across India by 2020. Bounce aims to add 30K scooters by the end of current calendar year. Bounce Earnings For FY18 Apart from funding, the bike/scooter sharing platform also filed its financial report for the year ending on March 31, 2018. The company’s revenue grew by 24.4% to INR 5.44 Cr ($762.8K) in FY18. During the same period, its losses almost doubled to INR 7.02 Cr ($980.8K) while the expenses saw an increase of 62.5% to INR 12.47 Cr ($1.74 Mn) In bike/scooter rental segment, Bounce competes with Vogo, Tazzo Bikes, RentOnGo, ZipHop, ONN Bikes, among several others

Patrick J McGovern Lifetime Achievement Award conferred upon Ratan Tata November 12, 2019 Iconic Indian industrialist and Chairman emeritus of Tata Sons, Ratan Tata was presented the Patrick J McGovern Lifetime Achievement Awards by Chiratae Ventures, formerly known as IDG Ventures India. Chairman emeritus of Tata Sons and scion of the Tata family, Ratan Tata was felicitated with the Patrick J McGovern Lifetime Achievement Award 2019. The award, instituted by then IDG Ventures India in 2016, commemorates the legacy of Patrick Joseph McGovern Jr., founder of the International Data Corporation and a visionary who redefined the way the enterprise consumed technology. The MIT graduate was the first to spot a business opportunity in a newsweekly for the IT community – he foresaw the potential of how technology could help businesses grow, and thus was born Computerworld on 21 June 1967. In a 2017 article, his son Patrick McGovern III highlighted McGovern Jr.’s innate ability to spot new and emerging trends in technology before they were recognized by everyone else. McGovern spearheaded the launch of over 300 magazines and newspapers and is credited with expanding IDG’s network to include over 460 websites, 200 mobile apps, and 700 events all around the globe. The tech visionary passed away on 19 March 2014, leaving a USD 350 million fortune to the McGovern Institute for Brain Research. Ratan Tata joins an elite list of awardees Over the years, the Patrick J McGovern Lifetime Achievement Award was conferred upon global leaders who have left a lasting legacy to their businesses. Past winners include John Chambers, former executive chairman and CEO of Cisco Systems, Ashok Soota, Executive Chairman and co-founder of Happiest Minds Technologies, Kris Gopalakrishna, co-founder of Infosys, Saurabh Srivastava, an entrepreneur and co-founder of IAN, and Bruno Raschle, founder, MD and non-executive vice chairman of Schroder Adveq. Ratan Tata is best known for putting the Indian enterprise on the global map. Under his stewardship, Tata Motors acquired the Jaguar and Land Rover businesses from Ford. In 2000, Tata Tea acquired the largest tea company in the UK, the Tetley group. Just three years later, TCS became the first Indian software company to cross USD 1 billion in revenue. In 2007, he oversaw Tata Steel’s acquisition of Corus, which was then the second-largest steel manufacturer in Europe. ­­ On being felicitated with the Lifetime Achievement Award, Ratan Tata said “It is a pleasure receiving this award from the Chiratae team. I have personally known Sudhir and the team for a few years now. I have witnessed the company’s and team’s growth as IDG, now Chiratae. I’m proud of the impressive portfolio they have built over the years. I am happy to have been a part of their success story.” What makes Pat McGovern’s philosophy so relevant and why Ratan Tata fits the bill Chiratae Ventures, formerly known as IDG Ventures India, believes that the startup ecosystem is all about stellar entrepreneurs, disruption, and creating impact for masses through technology innovation and perseverance – values that are perfectly in sync with Pat’s philosophy. Carrying forward his father’s legacy, Patrick J. McGovern III, Chairman of the Judge’s committee said that all the judges, which includes past recipients, and Sudhir Sethi and Meenakshi Sundaram from Chiratae, unanimously selected Ratan Tata as the awardee. “We have been through a great journey together and we are honored to have Mr. Ratan Tata accept the award from the Chiratae team. He has been a great motivation and mentor to the team. The time invested by him in advising us is of immense value,” added Sudhir Sethi, founder & chairman of Chiratae Ventures. The VC major believes that one of McGovern’s favorite quotes: “The best is yet to come” is a key driving factor for the startup ecosystem.

Chiratae Ventures announces Chiratae Sonic: An industry- first initiative to enable quicker access to capital for Founders July 14, 2021 Unprecedented 48 hours seed fund approval for investments less than or equal to $500,000 The first phase of applications under Chiratae Sonic is open for 30 days starting July 7th, 2021 Making fund-raise more seamless and accessible for founders through the templated application form and a dedicated website for the initiative (https://sonic.chiratae.com/) AWS to offer credits up to USD $100,000 per eligible startup through the AWS Activate program Chiratae Sonic is the 8th seed investment program rolled out by Chiratae Bangalore, 07 July 2021: Chiratae Ventures, India’s leading Venture Capital advisory firm today announced their landmark seed initiative Chiratae Sonic to accelerate and democratize the fund-raise process for founders. The initiative guarantees a 48 hours turnaround time on seed fund requests/pitches for investments less than or equal to $500,000. Chiratae has also introduced an application form and a dedicated website (https://sonic.chiratae.com/) to make the process even simpler for early-stage founders. Aligned to Chiratae’s commitment to empowering the homegrown startup ecosystem, the initiative aims to enable quicker access to capital for founders and help them prioritize innovation. The initiative will be rolled out in phases, with the first phase going live today and Chiratae is accepting applications under Chiratae Sonic for the next 30 days. Chiratae Sonic is the 8th seed investment program rolled out by Chiratae in line with their efforts to empower and support early-stage ventures. Commenting on the initiative, Sudhir Sethi, Founder & Chairman, said, “As an entrepreneur- first VC, our focus has always been on prioritizing the success of our portfolio businesses. We are constantly on the lookout for ways to make our relationship more efficient and productive. One of the biggest challenges an early-stage entrepreneur faces is the tedious and time-consuming process behind raising capital. We believe innovation needs to be at the core of why and how founders interact with investors. By solving and simplifying the ‘how’ of that conversation Chiratae Sonic strives to empower founders to focus on innovation above all.” In addition to the promise of rapid decision-making for investments via Chiratae Sonic, the initiative entails standard investment terms for equity investments. Diligence for all investments under the initiative will be completed rapidly and remotely with trusted partners. Chiratae remains focused on investing in startups with technology at the core, irrespective of end-use application in dynamic industries like Consumer Tech, Enterprise Tech/SaaS, FinTech, Health-Tech, Deep-Tech, Ed-Tech, and Agri-Tech among others. In addition to capital, Chiratae also offers its portfolio businesses access to the expertise and insights from its Global Advisory Board and India Advisory Council. Chiratae Venture’s Global Advisory Board has Mr. Ratan Tata – Chairman Emeritus of Tata Sons, Mr. Kris Gopalakrishnan – Co-founder of Infosys, Mr. Bruno E. Raschle – Founder, Managing Director, and Non-Executive Vice Chairman of Schroder, and Mr. Manish Choksi – Non-Executive Vice Chairman of Asian Paints and Dr. Andreas Hettich, Chair, Hettich Group Advisory Board with the additional support of Dr. Ferzaan Engineer – Co-founder and Chairman of Cytecare Hospitals from the India Advisory Council of Chiratae. Amazon Web Services (AWS) is a key collaborator in the Sonic program and will offer credits up to USD $100,000 per eligible startup through the AWS Activate program, which provides resources like AWS credits, business mentorship, and technical support to help early-stage founders build and scale successful businesses. About Chiratae Ventures Launched in 2006, Chiratae Ventures India Advisors (formerly IDG Ventures India) is India’s leading technology Venture Capital funds advisor. The funds advised by Chiratae Ventures India Advisors collectively have close to $900 M under management and 99 investee companies across Consumer Media & Tech, Cloud/Software, Health-tech, and Fin-tech. Notable portfolio companies include Bounce, Cure.fit, FirstCry, Flipkart, Forus, Lenskart, Manthan, Myntra (acquired by Flipkart), NestAway, Newgen (NSE: NEWGEN), PlaySimple, PolicyBazaar, Rentomojo, Unbxd, and Uniphore among others.

Chiratae Ventures, India’s leading Tech VC closes oversubscribed largest Fund IV at $ 337 m August 6, 2021 Bengaluru, 06 August 2021: Chiratae Ventures announced the closing of its fourth fund at $337 Mn oversubscribed by 25%. Chiratae Ventures is backed by marquee global and Indian investors. Over half of Fund IV is from Indian investors including Family Offices and industrial families from India. Global investors include those from the US, UK, Europe, Japan and Singapore. Chiratae Venture Funds are ESG compliant. With a cumulative AUM of approximately $ 950 Mn Chiratae Ventures has invested in more than 100 deals since its inception in 2006, delivered 2 IPOs, 4 unicorns while completing 38 exits with a record 8 consecutive years of capital distributions to investors. CloudCherry, Flipkart, Manthan, Myntra, Newgen, PlaySimple, and Xpressbees are some of the portfolio companies that have been fully exited. Today 40% of the early-stage Tech VC’s portfolio has scaled globally to more than 35 countries. Chiratae Portfolio has filed a total of 120+ patents, with 27 of these granted. Commenting on the Fund close “We are pleased to continue to back stellar Indian entrepreneurs in technology startups assisting them to grow to dominant leaders in India and globally. It is a testimony to the startup ecosystem in India and high-quality tech entrepreneurs. We have the backing of Marquee Global and Indian Investors repeatedly. Chiratae has delivered stellar exits including a recent 43X return from PlaySimple”, said Sudhir Sethi, Founder and Chairman, Chiratae Ventures Chiratae Ventures has backed homegrown unicorns such as FirstCry, Flipkart, Lenskart, and Policybazaar. PolicyBazaar just filed its DRHP. Its portfolio also includes Tech leaders such as Agrostar, Bizongo, Bounce, Cropin, Curefit, Emotix, GoMechanic, HealthifyMe, PlayShifu, Pyxis, Uniphore, and Vayana, among others. TC Meenakshisundaram, Founder and MD, Chiratae Ventures, added “We are seeing over 3000 new companies every year. This number will increase further as India grows to a $ 5 Trillion economy. Indian Insurance companies have also now backed us which is a game-changer for us” In addition to capital, Chiratae also offers its portfolio businesses access to the expertise and insights from the team and from its Global Advisory Board. Chiratae Venture’s Global Advisory Board has Mr. Ratan Tata – Chairman Emeritus of Tata Sons, Mr. Kris Gopalakrishnan – Co-founder of Infosys, Mr. Bruno E. Raschle – Founder and Non-Executive Vice Chairman of Schroder Adveq, Mr. Manish Choksi – Non-Executive Vice Chairman of Asian Paints and Dr. Andreas Hettich, Chair, Hettich Group Advisory Board and Dr. Ferzaan Engineer – Co-founder and Chairman of Cytecare Hospitals from the India Advisory Council of Chiratae. Chiratae Ventures India leadership team includes Sudhir Sethi – Founder & Chairman and TC Meenakshisundaram – Founder & MD as well as partners Karthik Prabhakar, Karan Mohla, Venkatesh Peddi, Ranjith Menon, and Swaminathan Shankar – Chief Financial Officer. Chiratae continues to focus on investing in startups with technology at the core, irrespective of end-use applications such as but not only limited to Consumer Tech, Enterprise Tech/SaaS, FinTech, Health-Tech, Deep-Tech, Ed-Tech, Agri-Tech, etc. About Chiratae Ventures Launched in 2006, Chiratae Ventures India Advisors (formerly IDG Ventures India) is India’s leading technology Venture Capital funds advisor. The funds advised by Chiratae Ventures India Advisors collectively $ 950 Million under management and 100+ investee companies across Consumer Media & Tech, Cloud/Software, Health- tech, and Fin-tech. Notable portfolio companies include Bounce, Cure.fit, FirstCry, Flipkart, GoMechanic, Lenskart, Manthan, Myntra (acquired by Flipkart), Newgen (NSE: NEWGEN), PlaySimple, PolicyBazaar, and Uniphore among others. To date, the fund has recorded 2 IPOs, 38 exits, and 4 Unicorns.

TCM Sundaram elevated as Vice Chairman of Chiratae Ventures December 17, 2021 Bengaluru, 17th December 2021: TCM Sundaram elevated as Vice Chairman of Chiratae Ventures Bengaluru based Chiratae Ventures has announced the elevation of its Founder, TCM Sundaram, to Vice Chairman. TCM Sundaram brings over 35 years of industry experience, including 16 years of venture experience. Some of the notable leaders he has backed are Lenskart, PolicyBazaar, AgroStar, Vayana, Kristal.ai, ShopSe, amongst others. In 2006 Sudhir Sethi and TCM Sundaram co-founded Chiratae Ventures. Welcoming TCM Sundaram’s elevation to Vice Chairman, Sudhir Sethi, Founder and Chairman, shared, “I have had the privilege of working with TCM over the past 30 years as well as being close friends over these many years. TCM’s Contribution to the success of Chiratae has been notable and exceptional not only as a professional but also as a strong team player. Characterized by intellect, immense energy, and multiplexing TCM is a fine role model within Chiratae.” In the past fifteen years, TCM has led many initiatives in investments, exits, firm building, finance, and legal, amongst others. TCM has also led the Fintech Sector, contributed and led fundraising, including opening new investor platforms such as Rupee Capital, DFIs and Insurance companies partnerships, and more recently taking a portfolio to scale and IPO. Well respected and regarded by the Indian VC/PE ecosystem as a pioneer, TCM is also a Chartered Accountant by qualification. He is a Charter Member of The Indus Entrepreneurs (TIE). A marathoner and an F1 fan, he invests in public markets too. About Chiratae Ventures A homegrown early-stage tech VC backing stellar entrepreneurs disrupting or creating new ecosystems, the fund has been an early backer of Curefit, Firstcry, GlobalBees, Lenskart, and Myntra, and has invested in leaders like AgroStar, Bizongo, Bounce, Cropin, EarlySalary, GoMechanic, HealthifyMe, NestAway, Pyxis, Uniphore, Vayana, amongst others. This year Chiratae completed 15 years in the Indian Startup Ecosystem and announced its final close of the fourth fund oversubscribed at $337 million in August. Through the years, the team has delivered value for its investors with over 39 exits and driven portfolio growth as demonstrated by $1 billion AUM since its inception, 3 IPOs and 6 Unicorns, with more round the corner. L-R: Sudhir Sethi, Founder & Chairman with TCM Sundaram, Founder and Vice Chairman, Chiratae Ventures.

Chiratae Ventures announces key elevations in its growth journey of three Managing Directors and AVP December 20, 2021 Bengaluru, 20 th December 2021: Chiratae Ventures announces key elevations in its growth journey of three Managing Directors and AVP Chiratae Ventures, formerly known as IDG Ventures, has announced the promotion of four key members. Karthik Prabhakar, Ranjith Menon, and Venkatesh Peddi have been elevated to Managing Directors, and Gayatri Menon has been elevated to Associate Vice President – Legal. Karthik Prabhakar, Ranjith Menon and Venkatesh Peddi have spent over a decade at Chiratae and have worked as a close-knit team. Karthik leads fundraising at Chiratae Ventures and has led investments in EarlySalary, NestAway, PlaySimple and PlayShifu, amongst others. Ranjith, leads Health tech sector and has led investments in GoMechanic, Bizongo, Zumutor, Redcliffe and Uniphore amongst others. Venkatesh, leads the SaasS sector and has led investments in Deepfence, Healthplix, Hevo, Pyxis, among others. Chiratae Ventures is a leading homegrown early-stage tech VC backing stellar ventrepreneurs disrupting or creating new ecosystems. The Bengaluru based VC fund was co-founded by Sudhir Sethi, Founder and Chairman and TCM Sundaram, Founder and Vice Chairman in 2006. Speaking about the team and its culture, Sudhir Sethi, the Founder and Chairman of Chiratae Ventures shares: “At the outset my congratulations to Ranjith, Venkatesh, Karthik and Gayatri on their elevation. Their contribution in staging Chiratae Ventures to a leadership position has been outstanding. In pursuing our goal of growing 3x Chiratae leaders are poised to raise multiple funds, invest faster and deliver 3x more exits year by year.”  Sudhir Sethi, Founder and Chairman, with TCM Sundaram, Founder and Vice Chairman, Chiratae Ventures This year also marks a milestone for Chiratae Ventures. It completed its 15 years in the Indian Startup Ecosystem and announced its final close of the fourth fund oversubscribed at $337 million in August. Through the years, the team has delivered value for its investors with over 39 exits and driven portfolio growth as demonstrated by $1 billion AUM since its inception, 3 IPOs and 6 Unicorns, with more round the corner. Chiratae has been an early backer of AgroStar, Bizongo, Bounce, Cropin, Curefit, EarlySalary, Emotix, Firstcry, GlobalBees, Go Mechanic, HealthifyMe, Lenskart, Myntra, NestAway, Pyxis, Vayana, Uniphore, amongst others. Matching its scale and growth aspirations, the fund has been beefing up its leadership. The recent promotions are aligned to an overall strategy to provide an accelerated growth path for its team that is expected to grow by 60 percent in the coming months with the addition of another 15 professionals. The elevations come on the back of seven recent appointments made by Chiratae in its Investment and Marketing teams and align with their growth vision. TCM Sundaram, Founder and Vice Chairman, shared, “Over the past decade Karthik, Ranjith and Venkatesh have been at the forefront of investing in very successful companies as well as leading sectors for Chiratae Ventures and been role models for our new and younger team members. Gayatri, as legal counsel, has contributed significantly to Chiratae’s investments, divestments and fundraising over the past four years and has become an integral part of the Chiratae Team. I wish the team long and successful innings at Chiratae in creating unicorns and IPO candidates in years to come.”  L-R: Karthik Prabhakar, Ranjith Menon, Gayatri Menon and Venkatesh Peddi SaaS and software: 7. Clientell● Clientell is a no-code decision landscape, empowering business leaders to take data backed decisions and streamline business strategies by leveraging self- evolving AI. Founded by Saahil Dhaka and Neil Sarkar batchmates from BITS Pilani, Chiratae Ventures led the investment as the sole investor. 8. Goodmeetings● Goodmeetings is an online video and AI-enabled platform that helps sales teams sell 10X better over video calls. They do this by providing AI powered dynamic nudges, checklists, help on the fly, workflow automation and useful insights to improve sales productivity, efficacy and decision making. Founding team comprises of serial entrepreneurs Srinivasan Narayan, Soumya Mohapatra, Abhijeet Sahoo, Alok Mishra and Ajay Srinath. Chiratae led the investment round with participation from FortyTwo.VC, Adept Ventures, 100X.VC, Atrium Angels and marquee angels. 9. HUVIAiR● HUVIAiR is a construction technology company that helps businesses through its visual intelligence technology platform to enhance on-site productivity and reduce progress monitoring time while cutting down on overall project costs. HUVIAiR was founded by Vikshut Mundkur and Arjun Janananda. Chiratae Ventures led the investment with participation from SOSV, Artesian Venture Partners and RMZ Management LLP. 10. Locale• Locale is a control tower for central oversight and localised decisions for real-world operations. It optimizes your operations with powerful map-based analytics, hyperlocal insights and granular decisions. Locale currently works with some of the world’s largest companies, including those in Europe, Latin America, the Middle East, India, and Singapore, to name a few. Locale was founded in 2019 by Aditi Sinha, a BITS Pilani graduate, and Rishabh Jain, who worked extensively on geographic information systems at Social Cops. Chiratae led the company’s seed round in August 2021. 11. NetBookAI● NetBook is a platform to abstract out the entire compute infrastructure layer from Machine Learning workflows, thus enabling Machine Learning developers to save 90% of their time that is lost due to compute bottlenecks. NetBook enables teams to connect all their private and cloud servers to manage workloads across their entire infrastructure seamlessly from a single dashboard. NetBook was founded by Sachin Chandra Bonagiri and Siddhardha Sukka who possess a broad experience in developing ML solutions and products after graduating from IIT Bombay as batchmates earlier. Chiratae Ventures led the investment as the sole investor with participation from marquee angels. DeepTech: 12. DreamVu● DreamVu is a pioneer and the leader in omnidirectional 3D vision systems. It leverages patented optics with visual imaging software to create affordable omnidirectional 3D vision systems to solve some of the most challenging problems in vision globally with large scale use cases in the industrial automation space. DreamVu was founded in 2017 by IIIT Hyderabad alumni Rajat Aggarwal, Rohan Bhatial and Professor Anoop Namboodiri. Chiratae led

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Oversubscribed Chiratae Ventures Growth Fund -I announces its first close at INR 759 cr November 28, 2022 Chiratae Ventures Growth Fund – I (CGF – I) announces its first close at INR 759 Cr; final close by the end of the year with substantial oversubscription Plans to invest in growth opportunities, startups raising Series C and beyond rounds Bengaluru | November 8, 2022: Chiratae Ventures, India’s leading early-stage technology-focused venture capital fund, has announced the first close of its fundraising, which will be dedicated solely to growth-stage portfolio. The Chiratae Ventures Growth Fund – I (CGF – I) has been oversubscribed at INR 759 Cr. Chiratae plans to now close its green shoe commitments by Dec 2022. Chiratae Growth Fund -I will invest in the growth rounds of market-leading technology startups from its portfolio and outside. It will be a sector-agnostic fund to support the growth and expansion of tech companies. The fund is targeting to invest across 15-20 companies. Chiratae Ventures has raised five early-stage funds and manages $1.1 bn in AUM. The firm has a successful track record of investing in early and growth-stage startups across its 16-year history. It has been an early backer of technology-led companies such as Bizongo, Curefit, EarlySalary, Firstcry, GoMechanic, Lenskart, Myntra, PolicyBazaar, Pyxis, Vayana, and Uniphore, amongst others. Chiratae is unique as it’s the only VC firm in India to have returned capital every year for a decade. Sudhir Sethi, Founder and Chairman of Chiratae Ventures said, “We are pleased to announce our fund close at INR 759 cr for our maiden Chiratae Growth Fund 1. This is one of our fastest fundraisings. We thank our investors for recognising our performance, strategy, returns and governance. The fund will be focused on fueling the growth of 15-20 technology startups at growth stage.” This is the first growth fund raised by Chiratae Ventures. The fund counts domestic institutional investors such as Kris Gopalakrishnan FO, Choksi Family Office (promoters of Asian Paints), SBI and IIFL Wealth & Asset Management and other Family Offices, as well as existing global investors and key LPs. TC Meenakshi Sundaram, Founder and Vice-Chairman of Chiratae Ventures, said, “This is one of the fastest fundraise we have seen. Thanks to our Investors, we are oversubscribed and are looking to close this by the end of the year. We are excited about investing in companies that solve population-scale problems.” Mr. Kris Gopalakrishnan, Member, Global Advisory Board, Chiratae Ventures, and Co-Founder of Infosys, said, “I am glad that Chiratae, as the largest home-grown venture growth firm, has achieved its fastest fund closure of Chiratae Growth Fund 1, on the back of a decade plus long history of stellar returns, high governance, firm institutionalization, backing Unicorns with capital from Indian as well as global investors repeatedly.” About Chiratae Ventures: Launched in 2006, Chiratae Ventures India Advisors is India’s leading technology Venture Capital funds advisor. The funds advised by Chiratae Ventures India Advisors collectively have close to $1.1Bn under management and 128+ investee companies across SaaS, Consumer Media & Tech, Health-tech, and Fin-tech. The fund has been an early backer of Cure.fit, FirstCry, Flipkart, Globalbees, Lenskart, Manthan, Myntra, PolicyBazaar and has invested in leaders like AgroStar, Bizongo, Bounce, Cropin, EarlySalary, GoMechanic, HealthifyMe, Hevo Data, Pyxis, Uniphore Vayana, amongst others. Chiratae closed its fourth fund, oversubscribed at $337 million in 2021. The team has delivered value for its investors through the years with over 45 exits, 3 IPOs and 8 Unicorns, with more around the corner. Chiratae Ventures is India’s leading early-stage technology-focused venture capital fund backing stellar entrepreneurs disrupting or creating new ecosystems. With a team of over 30 professionals having a cumulative VC experience of 100+ years. Chiratae’s Global Advisory board consists of esteemed personalities such as Mr. Ratan Tata (Chairman), Kris Gopalakrishnan, Manish Choksi (Vice Chairman Asian Paints), Bruno Raschle (Founder Adveq Zurich), Dr Andreas Hettich (Chairman Hettich Corporation Germany) and Dr Ferzaan Engineer (Founder Cytecare and Nightingale).

Presenting Chiratae Sonic, our flagship seed program with an accelerated process of decision making for companies raising seed funding. Chiratae Sonic is for entrepreneurs who are raring to scale up quickly with their disruptive tech ideas. We aim to provide you with an accelerated process of raising the seed investment for your tech business

Presenting Chiratae Sonic, our flagship seed program with an accelerated process of decision making for companies raising seed funding. Chiratae Sonic is for entrepreneurs who are raring to scale up quickly with their disruptive tech ideas. We aim to provide you with an accelerated process of raising the seed investment for your tech business

Presenting Chiratae Sonic, our flagship seed program with an accelerated process of decision making for companies raising seed funding. Chiratae Sonic is for entrepreneurs who are raring to scale up quickly with their disruptive tech ideas. We aim to provide you with an accelerated process of raising the seed investment for your tech business

Presenting Chiratae Sonic, our flagship seed program with an accelerated process of decision making for companies raising seed funding. Chiratae Sonic is for entrepreneurs who are raring to scale up quickly with their disruptive tech ideas. We aim to provide you with an accelerated process of raising the seed investment for your tech business

Presenting Chiratae Sonic, our flagship seed program with an accelerated process of decision making for companies raising seed funding. Chiratae Sonic is for entrepreneurs who are raring to scale up quickly with their disruptive tech ideas. We aim to provide you with an accelerated process of raising the seed investment for your tech business

Presenting Chiratae Sonic, our flagship seed program with an accelerated process of decision making for companies raising seed funding. Chiratae Sonic is for entrepreneurs who are raring to scale up quickly with their disruptive tech ideas. We aim to provide you with an accelerated process of raising the seed investment for your tech business

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Disrupting Seed Investments – Chiratae Ventures invests in 19 companies through the first edition of Sonic February 23, 2022 Bengaluru – February 23, 2022 Chiratae Ventures, the country’s largest homegrown venture capital firm, announced investments into 19 companies as part of the first edition of Sonic, its flagship seed investment initiative, identifying and investing into disruptive tech ventures raising up to USD 2Million. Launched in July 2021 with the vision of accelerating and democratizing the fund-raise process for founders, Sonic assured for the first-time time in the history of the Indian startup ecosystem a turnaround time of just 48 hours on the investment decision from the first pitch session for companies raising up to USD 500,000. In addition to the promise of rapid decision-making for investments via Sonic, the initiative entailed standardized deal terms for equity investments. Diligence for all investments under the initiative was completed rapidly and remotely with trusted partners. The founding teams of these 19 companies will be mentored by leading founders, industry veterans, investors and receive perks and support across services in their next stage of growth. Commenting on the success of the first edition of Sonic, Mr Sudhir Sethi, Founder and Chairman, Chiratae Ventures said, “Chiratae Sonic, our seed program has facilitated entrepreneurs to build stellar companies in India and abroad. We were an early backer of companies like Uniphore, Miko, Playshifu, Deepfence, Hevo, Squadcast, HealthPlix, amongst many others. Under our seed program Chiratae Sonic, last year we backed 19 startups. With eight unicorns in our portfolio, we are more than ever driven to support and back tech startups solving for India.” Aditya Singhal, Founder-CEO of ByteLearn the first company from Sonic-2021 to raise a follow-on round within six months of closing the pre-seed round said “We at Bytelearn are super thankful and happy that we made the right choice by partnering with Chiratae’s team. Their team has helped, supported us and guided us in all crucial decision making. We found lot of gravity and maturity in all their decision making which we are sure will help us in future as well.” Building on the success of the first edition, Chiratae would be launching the 2022 edition of Sonic shortly. Highlights from Sonic 2021 ● Chiratae Ventures evaluated over 3000 deals in 2021 across stages and sectors. ● While Consumer-tech, SaaS, Health-tech, Fin-tech and Deeptech were the top startup themes, very interesting sub-themes were seen across AI &amp; ML applications ranging from hiring, education to sales and consumer behaviour. The Chiratae team also evaluated promising proposals in emerging spaces such as gaming, no-code infrastructure, EV mobility, battery tech, medical device tech, insurance-tech, etc. ● While a majority of the startups were based in metro hubs like Bangalore, Delhi-NCR, Mumbai, Hyderabad, Pune, Chennai and Kolkata, Sonic saw a record deal flow from across India &amp; the world with Kochi, Ahmedabad, Indore, Guwahati, Dehradun, California, London and Israel brimming with startup activity. ● Chiratae saw a 90% increase in seed stage deals through Sonic, as the fund had made 10 seed investments in 2020. ● Of the 19 startups in the first Sonic cohort, ByteLearn raised a Pre-Series A round within six months, with many more currently in the process of raising their next rounds in the next couple of quarters. The following are the companies that raised investment in Sonic 2021: Consumer Tech: 1. Aura Smart● Aura Smart is building a unified intelligent home platform to control and monitor any smart devices, sensors and internet services across different brands and ecosystems for residential and commercial property use cases. The company provides a mobile app and/or a smart home gateway that enables this. Ashwani Agrawal and Abrar Ahmed, batchmates at BITS Pilani founded Aura Smart in 2018. Chiratae led the investment round with participation from angel investors. 2. BeepKart● BeepKart is a full-stack online retailer of used two-wheelers which provides buyers the required confidence on price, quality and after-sales service using a tech- first approach to address the trust deficit in the massive used two-wheeler market. Founded by serial entrepreneurs Hemir Doshi and Abhishek Saraf who bring rich experiences with stints at top venture capital firms, conglomerates and high growth startups. Chiratae Ventures co-led its investment with Stellaris Venture Partners. 3. BuyStars● BuyStars is a real-money player card trading platform, where users buy, sell, trade and manage a virtual team with digital player cards across Cricket, Football, Kabaddi and other sports. Founded in 2021 by Aman Satija and Sriram Krishnamoorthy, they bring a wealth of experience across growth, marketing and product management functions leading multiple marquee startups before across multiple categories. Chiratae Ventures co-led its investment with Leo Capital with participation from angels. 4. ByteLearn● ByteLearn is an AI-powered teaching assistant that helps students with maths problems, evaluates performance, grades tests, and enables them to learn any topic via its AI-powered tutoring engine while providing actionable insights for the teachers to leverage from the identified learning gaps. Founded by serial entrepreneurs Aditya Singhal and Nishant Sinha, the team carries 15+ years of prior ed-tech experiences. Chiratae Ventures has partnered with company since the pre-seed round and co-led the seed investment with 9Unicorns and Leo Capital. 5. Tamasha● Tamasha is building a gaming ecosystem, where creators can engage communities through live social games and instantly monetise their engagement. While game developers can utilise the creator ecosystem to develop and publish community-driven games for the masses. The platform was founded by IIT Bombay graduates Saurabh Gupta and Siddharth Swarnkar. Chiratae led the investment round with participation from Incubate Fund India, 9Unicorns, Good Capital, Founderbank Capital, FirstCheque, PointOne Capital, Ice.vc and leading angels. 6. VisioApps● VisioApps has created Louie Voice Control an assistive tech platform for individuals with low vision and upper body mobility impairment. The platform is an immersive voice solution that lets users fully control the phone & apps with just voice commands while helping them navigate the world better and be more productive, socially connected and independent. Founded by serial entrepreneur Pramit Bhargava, Chiratae co-led the

Disrupting Seed Investments – Chiratae Ventures announces the launch of Sonic-2022. March 3, 2022 Bangalore, 3rd March 2022: Building on the success of the first edition, Chiratae Ventures, the country’s leading venture capital firm, announced the launch of the second edition of Sonic today. Last month, Chiratae announced investments into 19 startups in 2021 as part of the first edition of Sonic, their flagship seed investment program. The first edition saw companies across Consumer-tech, SaaS, Deeptech, Metaverse, Web3 and B2B Enterprise tech raising seed investments from Chiratae. ByteLearn, one of the Sonic-2021 companies, also raised a follow-on round of funding within six months of closing their seed round. Chiratae Ventures saw over 3,000 deals across the calendar year of 2021. Most of them came from founders at seed and pre-series-A stages. With a platform like Sonic, the team expects to receive over 4,000 applications from the startup ecosystem through the year. Sonic was born from the vision of accelerating and democratising the fund-raise process for founders at an early stage. Through this initiative, the team at Chiratae assures a 48-hour turnaround on investment decisions on funding requests up to USD 500,000 from the first pitch session. In addition, Chiratae invites applications from founders of companies looking to raise up to USD 2 million as part of Sonic. The promise of rapid investment decision-making via Chiratae Sonic will entail standard investment terms for equity investments and accelerated diligence for all investments. Commenting on the launch of the second edition, Mr Sudhir Sethi, Founder and Chairman, Chiratae Ventures, said, “Chiratae Sonic promises to be even more exciting. We invite young entrepreneurs, especially in high-end technologies in various verticals, with an ambition to build large, globally scaled companies. Our seed investments, Uniphore, Emotix, Hevo Data, Redcliffe, Bizongo, PlayShifu, ByteLearn and Pyxis, are a testimony to the success of the Sonic program.” To make this process seamless and much easier for early-stage founders, Chiratae has opened up the application process through its website. Unlike the first edition, which had an application window open for just seven weeks, Sonic’s current and future editions will receive proposals from startups throughout the year without compromising the agility of response. In addition to investments, the companies in each edition of Sonic will receive value addition in the form of mentorship from Chiratae’s founder network and Industry veterans through a structured set of webinars and learning sessions, and perks and support across services for their next stage of growth. Through the Sonic program, Chiratae also plans to engage more deeply with student entrepreneurs passionate about technology and innovation. Chiratae aims to identify, mentor and invest in startups with technology at their core, across dynamic industries such as: Consumer Tech SaaS B2B Enterprise Tech FinTech Health-Tech Deep-Tech Ed-Tech Agri-Tech Web3 Also, Sonic has collaborated with over 20 ecosystem players, including AWS, Microsoft, Oracle, Mixpanel and Razorpay, to name a few, to bring their resources and experts to accelerate the initial technology and product journeys. The cumulative benefits of partners-led benefits for each portfolio company account for over USD 500,000 and is expected to rise as more collaborations are being stitched in the weeks ahead. (List of our Ecosystem Partners – https://www.sonic.chiratae.com/) About Chiratae Ventures Launched in 2006, Chiratae Ventures India Advisors, a homegrown early-stage tech Venture Capital Fund backing stellar entrepreneurs disrupting or creating new ecosystems, the fund has been an early backer of Curefit, Firstcry, GlobalBees, Lenskart, and Myntra, and has invested in leaders like AgroStar, Bizongo, Bounce, Cropin, EarlySalary, GoMechanic, HealthifyMe, NestAway, Pyxis, Uniphore, Vayana, amongst others. In its 16th year of existence, it closed its fourth fund oversubscribed at $337 million in 2021. The team has delivered value for its investors through the years with over 40 exits and driven portfolio growth as demonstrated by $1 billion AUM since its inception, 3 IPOs and 8 Unicorns, with more round the corner.

Mr Prem Watsa, Mr Uday Kotak, and Ms Falguni Nayar receive the prestigious Chiratae Patrick J. McGovern Awards 2022 November 3, 2022 Mr Prem Watsa, Chairman &amp; CEO of Fairfax Financial Holdings Limited receives the ‘Global Lifetime Achievement Award’ Mr Uday Kotak, MD &amp; CEO of Kotak Mahindra Bank, receives the ‘India Lifetime Achievement Award Ms Falguni Nayar, Founder of Nykaa receives the ‘Exceptional Entrepreneurial Achievement Award’ Bengaluru | October 12, 2022: Chiratae Ventures, India’s leading early-stage technology focused venture capital fund, with $1Bn under management and 125+ investee companies across SaaS, Consumer Media & Tech, Healthtech, and Fintech, concluded its Annual General Meeting today. The evening that brought together the ecosystem witnessed the Chiratae Ventures Patrick J. McGovern Awards being received by business leaders and entrepreneurs for their outstanding achievements. Mr Prem Watsa, Chairman &amp; CEO, Fairfax Financial Holdings Limited, received the Chiratae Ventures Patrick J. McGovern Global Lifetime Achievement Award 2022 for contributing to India’s tech entrepreneurial ecosystem. Mr Uday Kotak, MD &amp; CEO, Kotak Mahindra Bank received the Chiratae Ventures Patrick J. McGovern India Lifetime Achievement Award 2022 for the substantial impact he has made on the Indian banking industry. And Ms Falguni Nayar, Founder &amp; CEO, Nykaa, received the Chiratae Ventures Patrick J. McGovern Exceptional Entrepreneurial Achievement Award 2022 for her outstanding achievements, growth and contribution towards the Indian entrepreneurial ecosystem. The Chiratae Ventures Patrick J. McGovern Awards were instituted in 2016 to honour the legacy of Mr Patrick J. McGovern, the legendary Co-Founder and Chairman of International Data Group (IDG), the leading global tech-media company with over 200 magazines and 460 websites. Pat, as he is fondly known, set up IDG Technology Ventures and anchored funds in multiple countries, including India, China, the USA, Vietnam and Korea. He was one of the earliest venture capitalists to believe in emerging markets, and his support led to the formation of Chiratae Ventures (then IDG Ventures) in 2006. Chiratae Ventures instituted and named Chiratae Ventures Patrick J. McGovern Awards in memory of their first investor, who passed away in 2016. The Awards celebrate individuals with exceptional contributions to business, entrepreneurship and economic impact. Celebrating the recipients at the event, Sudhir Sethi, Founder &amp; Chairman of Chiratae Ventures, said, “We have been celebrating exceptional leaders and entrepreneurs for the impact they have generated with the prestigious Chiratae Ventures Patrick J. McGovern awards every year. We are honoured to have Mr Prem Watsa, Mr Uday Kotak and Ms Falguni Nayar accept the awards for 2022.” Commenting on the winners, Patrick McGovern, Trustee at the Patrick J. McGovern Foundation said, “My father believed in investing in new opportunities and markets in India. He was the anchor investor for the first three funds at Chiratae Ventures. I am delighted to present the recipients, and I wholeheartedly thank them for their contributions to the industry and the ecosystem.” Mr Prem Watsa, Chairman &amp; CEO, Fairfax Financial Holdings, in his acceptance speech, mentioned, “It is a great honour to receive the Patrick J. McGovern Global Lifetime Achievement Award from Chiratae Ventures. I was very excited to learn about the work that Chiratae Ventures has done in the field of startups in India. It is indeed very heartening to learn that Indian startups make USD25 Bn in revenue and that this will ramp up to USD150 Bn in the next five years. This is fantastic and wonderful for these companies and for India as a country. India is the best country to invest in right now, with the right policies and leadership, it is truly India’s time under Prime Minister Modi.” In his acceptance speech, Mr Uday Kotak, MD &amp; CEO, Kotak Mahindra Bank said, “I am honoured by the quality and eminence of the jury who has decided to give me this prestigious award. We all come from being a startup once upon a time. We started small, and then we had the opportunity to grow and build a firm. The journey of an entrepreneur is fascinating and Chiratae is focused on venture capital and early-stage support to entrepreneurs who have dreams. What is even more interesting is to see many of these companies flourish and become more sustainable companies over time.” In her acceptance speech, Ms Falguni Nayar, Founder and CEO, Nykaa said, “I am very grateful for the honour that this award bestows on me. As India’s leading early-stage tech focused VC fund, Chiratae has played a key role in developing several industries. Especially in its foundational premise, Chiratae’s focus on building an entrepreneurial growth mindset by developing scalable strategies is commendable.  At present, the technology space and the startup environment in the country has evolved to the point of becoming truly mainstream. Across industries and businesses, entrepreneurs are creating new innovative solutions to resolve real problems. This is an exciting time to learn from and develop business models that use state-of-the-art technology, prioritising sustainability over short-term growth.” Chiratae Ventures has been celebrating individuals with exceptional contributions to their respective domains through the Chiratae Ventures Patrick J. McGovern Awards. Some of the previous winners include: Ratan Tata, Chairman Emeritus, Tata Sons Kris Gopalkrishnan, Founder and Former Executive Vice Chairman, Infosys Nandan Nilekani, Founder and Non-Executive Chairman, Infosys Bruno Raschle, Non-Executive Vice Chairman, Schroder Adveq John T. Chambers, Former Executive Chairman and CEO, CISCO Systems Saurabh Srivastava, Entrepreneur, Policymaker and Former Chairman, NASSCOM Ashok Soota, Co-Founder, Mindtree and Happiest Minds Technologies. Desh Deshpande, Venture Capitalist and Entrepreneur Sanjeev Bikhchandani, Founder and Executive Vice Chairman of Infoedge and Co-founder Ashoka University All the previous recipients become part of the jury that selects the following year’s recipients. This jury is chaired by Patrick McGovern, Trustee of the Patrick J. McGovern Foundation. The criteria for selection include an exceptional contribution to the Indian entrepreneurial and business ecosystem, Indian policymaking and driving risk capital investments to India. About Chiratae Ventures: Launched in 2006, Chiratae Ventures India Advisors is India&#39;s leading technology Venture Capital funds advisor. The funds advised by Chiratae Ventures India Advisors collectively have close to $1Bn under management and 125+ investee companies across SaaS, Consumer Media &amp; Tech, Health-tech, and Fin-tech. The

Indian SaaS to reach USD $ 100 Bn in revenues by 2026 April 28, 2022 Continued momentum in the creation of SaaS unicorns will propel India to surpass China and become the 2nd largest SaaS nation in the world Venture Capital investments will continue to flow into SaaS companies and is projected to touch USD $ 6.5 Bn, a 55% increase over last year’s investments of USD $ 4.2 Bn Cloud Security and Web3 are emerging as key areas of interest for investors within SaaS Bangalore, 19th April 2022: The Indian SaaS juggernaut is experiencing a ‘coming-of-age’ moment, with an incredible bull run that has firmly anchored its position on the global stage. The SaaS industry is set to clock in a massive USD $ 100 Bn in revenues by 2026. This was underscored by the 2022 edition of the Chiratae-Zinnov India SaaS report titled, “India SaaS – Punching Through the Global Pecking Order.” As the industry has matured, profitability has become a realistic milestone for SaaS companies, and they have cracked the Enterprise conundrum with over 40% revenue contribution. On the global stage, India is gearing to supersede China as the second largest SaaS nation in the next few years. The report identifies the key attributes that have accelerated the success of the SaaS industry – ‘SPARK’ – Supportive Policies, Proven Global Caliber, Abundant Liquidity, Rearing Domestic Talent, and Kindled Exit Options. Today, leading SaaS firms have been at the forefront of localizing innovation by putting robust engineering and product teams in the top markets that they are catering to. The focus for the firms is to capitalize on the overall value delivered to consumers, thus improving their propensity to pay. The early SaaS companies are attracting unicorn valuations and also successfully listing on the public markets. These successes, coupled with stronger fundamentals and the path to profitability, are making SaaS companies in India an attractive investment theme. The industry aims to attract a strong private capital infusion of close to USD $ 6.5 Bn in the coming year alone, notes the report. Key findings on the year gone by Indian SaaS witnessed massive growth at a ~55% CAGR in 2021, with revenues well-poised to cross USD $ 100 Bn by 2026 The next wave of digital talent is expected from tier-2 and tier-3 cities; a vast pool of ~3 Mn+ digitally skilled workforce will be the perfect munition for SaaS companies to scale up in the coming years The tremendous growth in the sector as well as the significant reduction in the time to achieve unicorn status have created ~90% of all SaaS unicorns in the last four years alone, with the potential for many more in the offing, thus adding to a large pool of Soonicorns Post surpassing UK this year in the number of SaaS unicorns, India is all set to leapfrog China and become the 2nd largest SaaS nation by 2026 The various pro start-up policies will play a key role in attracting more founders and investors. On the launch of this report, Sudhir Sethi, Founder and Chairman, Chiratae Ventures, stated, “India is a global SaaS leader, and Chiratae Ventures has been fortunate to be at the center of this surging momentum, with over 35 SaaS companies in our portfolio like Uniphore, which recently raised USD $ 400 Mn, and others like Pixis, Hevo Data, Healthplix, CropIn, Pando, Deepfence, and Squadcast which are valued over USD $ 3.5 Bn and last year overall raised USD $ 600 Mn. Chiratae predicts that investments in Indian SaaS will continue to grow at a massive pace with the revenue poised to cross USD $ 100 Bn by 2026.” Pari Natarajan, CEO, Zinnov, said, “2021 was a watershed year for Indian SaaS – including exponential valuations, successful IPO debuts, a vast influx of VC investments, and an unprecedented number of unicorns. Not only have Indian SaaS companies come of age, but they have also been at the forefront of creating new for India and new for the world products, led by visionary founders and a critical mass of engineering and product teams serving this purpose. All this has firmly put Indian SaaS on the global stage, and on the path of crossing the milestone of USD $100 Bn in revenue by 2026. In fact, India is fast emerging as a clear leader in SaaS, and will supersede China to become the second largest SaaS nation in the next few years.” The report identifies Cloud Security, Cloud-Native Enablers, Hyper Intelligent Automation, Web3, and Verticalized solutions as key areas of interest for investors in 2022 and beyond. Some of the key SaaS categories expected to gain traction in 2022 and beyond are: Cloud-Native is an approach to building and running applications as a Cloud-based delivery model, which is expected to accelerate modern application development based on its various advantages. VC investments in this space are exceeding USD $ 7 Bn in funding, giving rise to many unicorns in the segment Hyper Intelligent Automation, the new avatar of Automation, has become a top CXO priority within enterprise digital transformation charters. With a 15-20% growth forecasted in digital transformation spend, Automation platforms are attracting immense interest from investors Cloud Security, the fastest growing segment within Enterprise Cybersecurity in 2021, witnessed a staggering 6X growth in funding, especially across growth-stage deals Web3, based on Blockchain, is another segment garnering a lot of attention from investors. Perceived as a compelling SaaS opportunity, areas such as Data Analytics, DevTools, and Security have bubbled up Verticalized SaaS is also gaining popularity for solving industry-specific use cases. The global VC funding in this category exceeded USD $ 11 Bn in 2021 You can download the entire report from the following links: https://www.saas.chiratae.com/https://zinnov.com/india-saas-report/ About Chiratae Launched in 2006, Chiratae Ventures India Advisors is India’s leading technology Venture Capital funds advisor. The funds advised by Chiratae Ventures India Advisors collectively have close to $1Bn under management and 110+ investee companies across SaaS, Consumer Media & Tech, Health-tech, and Fin-tech.

The Chiratae Impact Report talks about the meaningful impact that is being created by Chiratae’s portfolio companies across sectors, by way of reaching those previously underserved, bringing down costs, increasing access, and improving quality, while also scaling successfully through disruptive technologies.