Ideaspring Capital
Ideaspring Capital backs Indian deeptech, AI, biotech and enterprise startups.
Overview
Ideaspring Capital is an India-based venture capital firm founded in 2016 by Naganand Doraswamy. The firm leads investments in early-stage science and technology startups building global enterprise products from India. Its current focus spans DeepTech, Artificial Intelligence, Defence, Climate Tech, BioTech and Enterprise technology.
Ideaspring's investment identity is rooted in technically difficult businesses where scientific research, intellectual property and engineering create a meaningful competitive advantage.
Investment Focus and Stage
Ideaspring invests in early-stage product innovation companies based in India and building for global markets. The firm is comfortable investing when companies are still developing prototypes, validating technology and, in some cases, operating with little or no revenue.
Its technology interests include quantum computing, semiconductors, cybersecurity, GenAI, biotechnology and other advanced technologies. The firm's thesis centers on B2B product innovation where proprietary technology and scientific research can create barriers that take years and substantial capital to replicate.
Fund Size and Portfolio
Ideaspring has raised three funds. Fund I had a corpus of ₹118 crore, followed by Fund II at ₹265 crore. Its third fund, Ideaspring Capital Fund III, has a target corpus of ₹750 crore and is the firm's largest fund to date.
Fund III has an initial cheque size of ₹10–20 crore and is focused on three areas: AI-powered enterprise software, Biotech & Life Sciences, and DeepTech covering semiconductors, space, robotics and advanced materials. Around 30% of the fund is earmarked for high-performing companies at Series B/C.
Ideaspring's current portfolio page lists 34 companies. Its investments include Accelequant, focused on quantum-computing optimisation; Ahammune Biosciences, developing therapeutics for skin diseases; Ambee, a hyperlocal environmental data platform; BluJ Aero, developing zero-emission VTOL aircraft; Karomi, a packaging and artwork management platform; Mihup, focused on conversational AI; HrdWyr, developing AI-native semiconductor technology; Okulo Aerospace, developing solar-electric UAVs; and LatentForce, an agentic AI platform for enterprise code migration.
The portfolio also includes Nimesa, Numocity, Simyog, Gyrophint, Phyx44, Saigeware, SmartShip, Tvaster Genkalp, Worxogo and others. Ideaspring's portfolio page identifies Bewgle, Peritus AI, Spanugo, Whodat and Zapty as exited investments.
Leadership
Naganand Doraswamy is Founder and Managing Partner of Ideaspring Capital. His background includes technology entrepreneurship and leadership roles at SPAN Infotech India and Lexar Networks.
Suryaprakash Konanuru is Partner and Chief Technologist, bringing technical and product expertise to the investment process. Kailashnath MS serves as Partner, while Arihant Patni is Venture Partner.
The current team also includes Venture Advisor Dr. Ajith Kamath, Vice President Sulesh Kumar, Investment Associate Satrajit Neogy and other investment and finance professionals.