Blume Ventures

Blume Ventures

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Backing the next wave of revolutionary ventures! Newsletters : https://blumebeacon.substack.com/ and https://infullblume.substack.com/

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Portfolio Update: @OpElectrotech, a deep-tech company building AI-powered electro-optic imaging systems, has raised ₹35 Cr led by @ExfinityVP with participation from existing investors @vcatsindia @BlumeVentures and @Mela_Ventures Why our conviction continues: - Building AI-native imaging and sensing systems across defence and space - Expanding from proven ground deployments to space-based intelligence infrastructure - Strong validation through defence adoption including Indian Army, Navy and key organisations - Clear roadmap toward real-time, persistent imaging via satellite constellation This capital will accelerate their expansion into space-based sensing and strengthen India’s sovereign capabilities across defence and intelligence. A significant milestone as @OpElectrotech moves from ground systems to orbit, building the future of India’s strategic sensing stack. #VentureCatalysts #DeepTechIndia #DefenceTech #SpaceTechIndia #AIInnovation #StartupIndia #IndianStartups

Optimized Electrotech Pvt Ltd (Blume Fund IV) has raised ₹35 crore in a round led by Exfinity Venture Partners (@ExfinityVP), with participation from us, Mela Ventures (@Mela_Ventures), and Venture Catalysts (@vcatsindia). The company builds electro-optic systems for defence and space with four patents, multiple iDEX wins, and deployments with the Indian Army, Indian Navy, BDL, BEL, and ISRO. They've now secured initial orders for a satellite platform, marking their formal entry into space-based sensing with a pathway toward constellation-scale imaging and surveillance. Optimized Electrotech recently won under ADITI, the Ministry of Defence's grant programme for critical defence technologies under the iDEX framework. As Sandeep Shah, Co-founder of Optimized Electrotech, puts it: "ADITI gave us strategic validation. This round gives us the fuel to execute. India's next leap in strategic capability will come from a unified, sovereign sensing stack across land and space. Our AI-native imaging technologies are built precisely for this convergence — uniquely positioning us to serve the nation across both Defence and Space domains." Arpit Agarwal (@arpiit), Partner at Blume Ventures, adds: "India's defence indigenization wave is creating generational opportunities, and Optimized Electrotech stands out with battle-tested electro-optic platforms combining advanced sensors and AI. As it moves into space-based imagery, we're excited to back Sandeep and Dharin again." Ground to orbit. Defence to space. Deep-tech, built in India. Read more here: economictimes.indiatimes.com/n...… @BKartRed @sanjaynath @sajithpai @AshishFafadia

LightFury Games (@Lightfurygames) has raised $11M in its Pre-Series A from us, V3 Ventures, MIXI, and Times Internet. The strategic investor list is worth reading twice: MS Dhoni (@msdhoni), Jasprit Bumrah (@Jaspritbumrah93), Hardik Pandya (@hardikpandya7), Shreyas Iyer (@ShreyasIyer15), Ravindra Jadeja (@imjadeja), Tilak Varma (@TilakV9), and Sai Sudharsan (@sais_1509). All in as investors. We've backed LightFury from inception. The studio is building eCricket, a AAA mobile-first cricket title on Unreal Engine 5 with a licensed roster of 600+ professional cricketers. 150,000+ users already signed up for early access. This matters because Cricket has 2.5 billion fans globally. But it still doesn't have a definitive game that matches that scale of other sports such as EA Sports FC for Football and NBA 2K for Basketball. That's the gap LightFury is going after. Physics-led gameplay, real-time decision systems, AI-driven commentary. Mobile-first launch in 2026, with PC and console to follow. LightFury is 100 people strong, founded by Karan Shroff, Tina Balachandran, and Anurag Banerjee. Building from India, for the world. Karan Shroff, Co-founder & CEO says, "For us, this is about more than just launching a game. India has long been a gaming market, but now it is starting to build. We want to show that India can create world-class gaming IP for global audiences." Karthik Reddy, Co-founder & Managing Partner, Blume Ventures adds "We've backed LightFury from inception in their mission to build globally relevant gaming IP from India. Building an AAA game takes sustained creative excellence and deep technical expertise." Congratulations, Team LightFury. @BKartRed @AshishFafadia @sajithpai @sanjaynath @arpiit @TheKaranShroff @BanerjeeAnurag @TinaBalachandr1

🧴 Minimalist Mohit and Rahul Yadav wanted to build for metro Gen-Z. Turned out half their orders came from smaller towns, and those customers wanted to know why the pH was 3.6 and not 3.8. That reshaped what went in and on the bottle.

The Revenue AI Stack Is Broken. Here's What Comes Next. Imagine you're a revenue leader who's all in on AI. You've read the case studies, and you believe the hype. You want to automate everything from outbound to lead scoring to forecasting. But instead of feeling like you're in the future, you're stuck managing multiple tools, integrations, and contracts. You have a GTM stack that feels like it's stitched together with duct tape. Here's a map of where things actually stand. @sameeraculous (Sameera) from Blume's investments team created a BluPrint breaking down what's broken today and where founders should be building next in the revenue AI space. For revenue leaders and founders, the thesis maps out how AI is rewiring pre-sales, post-sales, and RevOps and where the biggest gaps still sit. Read the full thesis here: shorturl.at/TUeF3 @BKartRed @AshishFafadia @sajithpai @sanjaynath @arpiit @riashroff @saritaraichu @mehtaalok @mitul_am @SeekingN0rth @DeepikaDakuda @gauthamsiv @ray_elton99 @vikramg05

🚀 Powering India's Commercial EV Revolution: Euler Motors Raises $47M (~₹437 Cr) @Euler_Motors (Fund III) has raised $47M in a funding round led by Lightrock. We participated in the round along with Hero MotoCorp. The company has also secured ₹250Cr in debt financing from BlackSoil, Trifecta, InnoVen Capital India, and Alteria Capital. Founded by @sauravk_89 (Saurav) in 2018, Euler Motors is a leading commercial electric vehicle manufacturer building purpose-built electric three- and four-wheeler cargo vehicles for last-mile logistics. The fresh capital will be deployed to double production capacity to 2,000 vehicles per month, with a third manufacturing unit set to go live in the next six months. Around ₹400Cr will be invested over the next 18 months across R&D, tooling, product development, and factory expansion. The company reported ₹192Cr in revenue for FY25 and is on track to post 100% revenue growth in FY26, with presence across 60 cities and plans to expand to 100. "Euler has always invested heavily in R&D and building purpose-built EV products rather than retrofits. We will continue investing in batteries, software, and localisation. We want to scale to 2,000 vehicles per month," said Saurav Kumar, Founder & CEO of Euler Motors. @arpiit (Arpit), Partner at Blume, says, "We have been delighted by the way Saurav and his team have executed over the last 8 years. They've proven that young Indian companies can build high-quality automotive products from scratch, loved by customers with the potential to become market leaders. The journey hasn't been easy, but we're excited about what's ahead." With EV penetration in four-wheel commercial vehicles still at just 1-2%, Euler Motors is positioned to capture a massive opportunity as India's logistics sector goes electric — delivering cleaner, more efficient last-mile solutions across the country. 📰 Read the full press release here: shorturl.at/xo4Sp @BKartRed @AshishFafadia @sajithpai @sanjaynath @arpiit @riashroff @saritaraichu @mehtaalok @mitul_am @SeekingN0rth @DeepikaDakuda @gauthamsiv @ray_elton99 @vikramg05

🚀 Quick Commerce Meets Parenthood: OZi Raises $6.2M (~₹54Cr) OZi (Fund V) has raised $6.2M in a new funding round, led by RTP Global. We participated in the round along with Huddle Ventures and Zeropearl VC. The round also saw participation from prominent angels. Founded by Amit Sah, OZi is a quick commerce platform purpose-built for baby and kids' products, designed to simplify how modern parents shop. With over 15,000 products across fashion, toys, nursing essentials, baby care, school supplies, pharmacy, and gifting — OZi operates 24x7, delivering within 60 minutes across Gurugram and Noida. @sajithpai (Sajith), Partner at Blume, says, "In under a year, OZi has gone from a blank sheet to a humming operation with a high-grade team, a robust warehouse backbone, and tightly run on-ground operations. We are impressed with how far OZi has come in such a short time and even more excited about the scale that lies ahead." "Convenience is not just about a ten-minute delivery. It is about finding the right product, at the right time, from a trusted brand, without compromise, all in one place. Scale will be the natural outcome of solving convenience consistently for young parents," said Amit Sah, Founder & CEO, OZi. The fresh capital will be used to deepen OZi's presence across NCR, strengthen brand and trust, invest in technology and operational capability, and expand its curated assortment. As dual-income households grow and parenting demands evolve, OZi is building the definitive destination for modern parents — one that brings convenience, curation, and trust together in a single platform. 📰 Read the full press release here: shorturl.at/Yt0dr @BKartRed @AshishFafadia @sajithpai @sanjaynath @arpiit @riashroff @saritaraichu @mehtaalok @mitul_am @SeekingN0rth @DeepikaDakuda @gauthamsiv @ray_elton99 @vikramg05

In this month's Decoding Exits series, @BKartRed (Karthik) breaks down the secondary market activity from January & February. This time, it's a Blume special with three portfolio companies leading the action. Here are the highlights: 🔐 @getidfyed (Fund I vintage) raised ₹475 Cr in a round where the secondary component (₹250+ Cr) actually exceeded the primary, with Neo Asset Management coming in as the big buyer and TransUnion exiting with a handsome return. 🚗 @myspinny (Fund II) pulled off another $150M+ round at a premium after last year's $170M raise, with Fidelity entering as a new investor while Accel and WestBridge Capital doubled down. This follows the http:/GoMechanic.in and Autocar India acquisitions as Spinny continues to build a full-stack auto platform. 📈 @RaiseTheBarHQ (AKA Dhan - Blume Founders Fund) — One of India's fastest growing profitable unicorns, Dhan went from a $3M seed to a $1.2B valuation while barely raising any venture capital along the way. The round saw $120M+ in primary demand, with early backers like Hornbill, MUFG, BEENEXT, and 3one4 taking 65%+ compounded returns on partial exits. Watch the full video here: youtu.be/nqBD7S3tdcw @BKartRed @AshishFafadia @sajithpai @sanjaynath @arpiit @riashroff @saritaraichu @mehtaalok @mitul_am @SeekingN0rth @DeepikaDakuda @gauthamsiv @ray_elton99 @vikramg05

🚀 Fueling India's Used Car Revolution: Spinny Raises $170M (~₹1,400Cr) @myspinny (Fund II) has raised $170M in a round led by @Fidelity and Accel Leaders Fund. The round includes $90M of primary capital into the company, alongside $80M in secondary transactions where early investors including us and @FundamentumVC achieved liquidity by offering partial stake sales to incoming investors Fidelity and @WestBridge_Cap. Founded by @niraj001s (Niraj), @ramanshumahaur (Ramanshu), and Mohit Gupta, Spinny is India's leading full-stack online used car platform. They acquire, refurbish, certify, and sell high-quality vehicles at a fixed price with a 5-day money-back guarantee. The fresh capital will power Spinny's continued push toward profitability and market leadership. The company’s revenue in FY25 rose 25% to ₹4,657Cr while losses narrowed to ₹424Cr. This was primarily driven by tighter cost controls, improved sourcing efficiencies, and growing contribution from higher-margin add-ons like financing, insurance, and warranties. @arpiit (Arpit), Partner at Blume, says, "The genius of Niraj and team has been staying true to their original mission to provide a 100x better car buying experience, reinventing every single thing about the business from first principles. We continue to remain invested and look forward to the journey to public markets and beyond.” As used car volumes outpace new car sales in India, Spinny is building the trust infrastructure the market needs, making pre-owned car buying transparent, convenient, and reliable for millions of Indian consumers. 📰 Read the full press release here: shorturl.at/q7guO @BKartRed @AshishFafadia @sajithpai @sanjaynath @arpiit @riashroff @saritaraichu @mehtaalok @mitul_am @SeekingN0rth @DeepikaDakuda @gauthamsiv @ray_elton99 @vikramg05

🚀 Building the OS for India’s Finance Teams: Mysa Raises $3.4M (~₹31 Cr) @mysa_tweet (Fund IV) has raised $3.4M in a round co-led by us and Piper Serica, with participation from Ikemori Ventures, Raise Financial Services, QED Innovation Labs, Antler, IIMA Ventures , and Neon Fund. The company announced its first round of funding (~$2.8M) just last February. Founded by Arpita Kapoor, @mohit_rangaraju (Mohit), Ashutosh prasad Panigrahi, and Mohit Jain, Mysa is building the missing AI-driven, bank-integrated operating layer for India’s finance teams. The platform plugs into existing ERPs and banks with zero migration, automating workflows that have historically been manual, fragmented, and opaque. In under a year since launch, Mysa has reached ₹1,500+ crore in annualised transaction volume, enabled payments to 40,000+ unique vendor bank accounts, and became the first platform in India to support multi-banking across 15+ banks. “Finance teams today are expected to move faster while managing more complexity, but the underlying infrastructure hasn't evolved,” said @Arpita_Kapoor, Co-founder & CEO, Mysa. “We're building an AI-driven automation platform that plugs seamlessly into legacy ERPs and banks, enabling teams to scale without adding operational risk.” @josephseb (Joseph), VP at Blume Ventures, says, “We’re excited to double down on our investment in Mysa. The team has a first-principles understanding of finance teams’ real-world pain points: reflected in near-zero churn in the product’s first year cycle. The platform’s multi-banking architecture and AI-first approach make it a natural upgrade layer over legacy systems.” As India’s mid-market scales, Mysa is laying the foundation for a modern CFO stack: integrated, automated, and AI-native from day one. Read the full press release here: mysa.io/blogs/mysa-raises-3-4-...… @BKartRed @AshishFafadia @sajithpai @sanjaynath @arpiit @riashroff @saritaraichu @mehtaalok @mitul_am @SeekingN0rth @DeepikaDakuda @gauthamsiv @ray_elton99 @vikramg05

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