Theia Ventures Leads INR 4.15 Cr Round in Novyte Materials The round also saw participation from individual investors Sandesh Paturi, co-founder of Venwiz, and Niharika Jain, director at Chemvera.
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Theia Ventures has led an INR 4.15 crore pre-seed funding round in Novyte Materials, a Mumbai-based startup working in the field of AI enabled materials discovery.
The round also saw participation from individual investors Sandesh Paturi, co-founder of Venwiz, and Niharika Jain, director at Chemvera.
Founded in 2025 by Ajaz Khan and Ayesha Khan, Novyte Materials is building an AI powered platform aimed at making materials engineering more predictable. The company seeks to move the industry away from traditional trial and error methods toward a model based on prediction and verification. Its work focuses on stability first design of new materials, including perovskites that are being explored for next generation energy applications.
According to the company, its technology uses AI and ML combined with physics based simulations to design and validate new materials. This approach can significantly reduce research and development timelines and lower early stage testing costs.
Novyte works with sectors such as specialty chemicals, polymers, paints, coatings, aerospace, advanced manufacturing and composite materials.
The fresh capital will be used to further develop Novyte's platform and to run early pilot projects with industry partners. The company plans to work closely with research and development teams to decode complex material interactions and engineer custom solutions that can move more smoothly from lab testing to commercial use.
Novyte Materials is incubated at ICT NICE, the innovation hub of the Institute of Chemical Technology in Mumbai. While leveraging ICT's research ecosystem, the startup is also building its own research and synthesis infrastructure.
Theia Ventures focuses on early stage investments in areas such as artificial intelligence, deep technology, energy transition and decarbonization. This marks its fourth investment from its new fund, which announced its first close in October 2025 with British International Investment as an anchor. The fund has earlier invested in Sarla Aviation, Climitra Carbon and Lemnisca, and plans to deploy more capital within the current financial year.
