Pi Ventures has raised Rs65.9 crore (approximately $8 million) from British International Investment (BII) for its second fund, which it uses to support deep-tech and artificial intelligence firms with early-stage funding.
According to Manish Singhal, one of the company's founding partners, the investment by UK-based BII, a development finance institution, brings the capital of Pi Ventures' Fund-II to around Rs530 crore.
Startups including Agnikul, Niramai, and Locus have received funding from Pi Ventures. According to Singhal, it intends to complete Fund-ultimate II's close by the first quarter of 2023. In January, the fund reached its first closing of Rs300 crore.
The US Federal committee's meeting will conclude on March 16, 2022.
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