Inflexor Ventures
Inflexor Ventures backs Indian companies built around science, engineering and technology.
Overview
Inflexor Ventures is an India-based venture capital firm founded in 2016 by Venkat Vallabhaneni, Jatin Desai and Pratip Mazumdar. The firm backs technology companies where science, engineering and intellectual property can create durable competitive advantages.
Its investment approach is built around Science, Engineering & Technology (S.E.T.), with investments spanning deeptech, digital infrastructure, fintech, consumer technology, healthcare, space, semiconductors, robotics and enterprise technology.
Investment Focus and Stage
Inflexor has evolved its stage focus across its funds. Its first fund concentrated on Seed-stage companies, while Fund II moved toward Pre-Series A and Series A opportunities. Fund III continues this progression and is focused primarily on Pre-Series A and Series A investments.
The firm's latest fund writes initial cheques of approximately ₹15 crore to ₹45 crore and aims to build a portfolio of 22–25 companies. It remains sector agnostic within technology, with current areas of interest including healthcare, digital infrastructure, AI, niche manufacturing, semiconductors, space technology and robotics.
The common thread is not the industry itself but the technology behind the business. Inflexor looks for strong teams, large addressable markets and defensible technology. Its investment process places particular weight on whether a company's technology can create a meaningful moat and whether the founders can turn technical capability into a scalable commercial business.
Fund Size and Portfolio
Inflexor has raised four funds and currently reports $150 million-plus in total AUM, 30 investments and 14 exits.
Its latest vehicle, Inflexor Technology Discovery Fund III, has secured a ₹400 crore first close against a ₹1,250 crore target. The fund is backed by the Self-Reliant India Fund, HDFC Asset Management Company, HDFC AMC Select AIF FoF and international institutional investors. It is designed to invest across 22–25 technology-focused companies.
The portfolio includes Atomberg Technologies, a consumer technology company developing smart energy-efficient appliances; Bellatrix Aerospace, a spacetech company; Kale Logistics, an enterprise technology provider for the logistics industry; CloudSEK, a cybersecurity company; and CredFlow, a fintech platform.
Other portfolio companies include Awiros, Ayati Devices, Ayna, BioPrime, Butterfly Learnings, Chakr Innovation, ClickPost, Data Resolve, Entropik, GramCover, Morphle, NoPo, PlayShifu, Practically, Revspot, S-Cube, SecureThings, SecureTime, Steradian Semiconductors, Terra, Verloop, Vitra AI and Ykrita.
Leadership
Venkat Vallabhaneni is Founder and Managing Director of Inflexor. He has been involved in technology investing and entrepreneurship and leads the firm's overall investment strategy.
Jatin Desai is Founder and Managing Director. He has more than 25 years of experience across fund management, investments, entrepreneurship and technology operations, including senior technology leadership at Bank of America and DSP Merrill Lynch.
Pratip Mazumdar is Co-Founder and Partner, while Murali Krishna Gunturu and Harsha Mundhada are Partners. The wider investment team includes Principal Anush Prem, Principal Parmi Doshi and Associates Aishwarya Kulkarni and Pratik Ahuja.