The Ministry of Electronics and Information Technology (MeitY) and the Indian Venture and Alternate Capital Association (IVCA) have mobilised ₹500 Cr in VC commitments for Indian AI startups at the ‘India AI Impact Summit 2026’ in New Delhi. The announcement was made during the Impact AI PitchFest, where 31 AI-native startups showcased their products to investors. Sixteen IVCA member funds collectively committed ₹500 Cr to support high-potential AI startups. The participating investors included 3one4 Capital, 888VC, Accel, Ankur Capital, Antler, Boundless Ventures, Capital A, Chiratae Ventures, Dallas Venture Capital, Inflection Point Ventures, Mount Growth Fund, Peak XV Partners, Piper Serica, Prosus, Seafund, and SenseAI Ventures. The capital is aimed at supporting deployable AI solutions across enterprise and public-impact sectors. Peak XV Backs Five AI Startups Separately, Peak XV said it has backed over five early-stage AI startups that showcased their products and services at the PitchFest. Companion Labs, Kello, Memfold AI, Round1 and Zoop are the five startups that bagged funding. The VC firm said that the focus has shifted beyond basic tools and to startups that guide decisions, automate workflows and reduce friction in everyday work and life. The five startups operate across different segments. While Companion Labs is… Read MoreInc42 Media
