growX ventures

Overview

growX ventures is an India-focused venture capital firm that has been investing in technology businesses since 2008. The firm began as a management-capital platform, later developed an angel syndicate and launched its first institutional venture fund in 2018. Today, growX focuses on B2B and EnterpriseTech companies using technology to solve difficult business problems.

Investment Focus and Stage

growX invests across early-stage and early-growth opportunities, with its current Fund II focused on B2B and deep-tech businesses. Its investment themes have evolved alongside emerging technologies, with previous investments spanning areas such as AI, drones, space technology, robotics, electric mobility, genomics, semiconductors, cybersecurity and defence technology.

The firm's approach is not limited to one technology category. Instead, it looks for companies where emerging technology can create a meaningful advantage in a large business or industrial market. Its investments can range from enterprise software and fintech infrastructure to space systems, robotics, healthcare technology and advanced hardware.

Fund Size and Portfolio

growX launched Fund I in 2018, investing in 17 companies across areas including fintech, space technology, healthcare and robotics. Its investment track record now covers 46 investments and eight exits. The firm is currently deploying from growX ventures Fund II.

The portfolio includes Bellatrix Aerospace, Pixxel, Progcap, CynLr, Lightspeed Photonics, RACEnergy, Cell Propulsion, Advantage Club, 4baseCare, Lemnisk, MedPay, OneStack, Wellthy Therapeutics and Zuddl.

The firm's investments span very different applications of technology. Bellatrix Aerospace develops propulsion systems for space applications, Pixxel builds hyperspectral imaging satellites, while CynLr develops machine-vision robotics for industrial automation. Progcap provides working-capital financing to underserved businesses, RACEnergy works on battery swapping and powertrains for electric three-wheelers, and Lightspeed Photonics develops optical computing technology for AI and high-performance computing.

Leadership

Ashish Taneja is Founding Partner and CEO of growX ventures. He has experience across entrepreneurship, consulting, angel investing and venture capital and previously led the India business of Vertex Group. He has been closely involved in building growX from its early management-capital and angel-investing roots into an institutional venture platform.

Manish Gupta is General Partner. He is part of the firm's current leadership team and has been involved in its investment activities across technology and emerging businesses.

The broader team includes Venture Partner Siddharth Dhondiyal, Advisor Siddharth Dhondiyal and other investment professionals working across sourcing, portfolio support and investor relations.