Get All Access for $5/mo

Piper Serica Crosses INR 100 Crore Fundraising Milestone The fund that backs early-stage tech-startups has already made 12 investments, with an additional four investments currently undergoing due diligence processes

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Company handout

Mumbai-based Piper Serica Angel Fund has crossed its target corpus of INR 100 crore and is now exercising the green-shoe option of another INR 25 crore. According to an official statement, the fund that backs early-stage tech-startups has already made 12 investments, with an additional four investments currently undergoing due diligence processes.

"We extend our heartfelt gratitude to our investors and partners for their unwavering trust. Fundraising in the current environment is undoubtedly challenging; however, we have strategically capitalised on the 'funding winter,' harnessing it to our advantage. Leveraging this unique market landscape, we have made exceptional investments thus far and cultivated a robust pipeline of investment opportunities. With our collaborative approach and unwavering dedication, we have become a driving force in the startup ecosystem," said Rajni Agarwal, director, Piper Serica Angel Fund.

Furthermore, the statement added that Piper Serica Angel Fund is in advanced discussions to invest in companies in the space of Cybersecurity, Climate control, Upskilling, overseas student accommodation, Rural Finance, AI-enabled banking solutions and ad fraud detection. Also, the fund actively seeks co-investment opportunities and has created strategic alliances with like-minded investors.

"In a short period of time we have partnered with leading incubators, accelerators and other start-up funds. This has kept our deal flow very strong. We are very excited about the investment opportunities that we are seeing. Our strong deal flow, quick decision making backed by AI/ML supported decision-making tools and ability to add value to portfolio companies will keep our investment pace strong," said Ajay Modi, VP, Piper Serica Angel Fund.

The fund has invested in ALT Mobility, a full-stack EV leasing platform offering mobility as a service (MaaS) for commercial vehicle users; Castler, an escrow platform, Floworks, an AI-enabled sales team assistant, Crediwatch, an information intelligence platform to offer financial organisations big data risk analysis; Zippee, a physical network of micro warehouses (dark stores); Driffle, a marketplace built for gamers; and Oditly, an enterprise-scale SaaS application enabling businesses digitise and automate the lifecycle of quality, safety, and compliance processes, noted the statement.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
News and Trends

"45% of All Ongoing Hydropower Projects in India are Ours": Patel Engineering

Patel Engineering reported a turnover of INR 4,400 crore in the last fiscal year, with a projected 10 per cent growth for the current year.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Side Hustle

'Hustling Every Day': These Friends Started a Side Hustle With $2,500 Each — It 'Snowballed' to Over $500,000 and Became a Multimillion-Dollar Brand

Paris Emily Nicholson and Saskia Teje Jenkins had a 2020 brainstorm session that led to a lucrative business.

News and Trends

Aadhaar-Driven Financial Inclusion: Catalyzing Regional Economic Growth in Rural India

The emergence of digital tools such as the Aadhaar-enabled Payment System (AePS), which uses the biometric-based Aadhaar identity system for cash transfers and regular banking tasks, has become a tool to bridge the gap and improve financial inclusion

Science & Technology

5 Rule-Bending AI Hacks to Make Your Mornings More Productive and Profitable

By 2025, AI will transform productivity by streamlining workflows and cutting costs. Major companies like Microsoft, Google, and OpenAI are leading the way, advancing AI into "Phase 3," where tools act as digital assistants. Discover 5 AI hacks to boost efficiency and redefine your daily routine.

News and Trends

5 Things to Know About India's Chess Pride, Gukesh Dommaraju

He is not only inspired by Dhoni but also relies on a coach from Dhoni's cricketing era to help him prepare mentally.