Thesis-Driven Investor growX invests from seed to Series B in deep tech, frontier tech, industrial innovation, defense, space, SaaS, AI, robotics, and climate-tech.
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When most investors are busy chasing the latest trends and consumer hype, growX ventures is quietly making bold moves in what it sees as "India's future": deep tech, industrial innovation, and frontier technology. With a fund size of INR 400 crore (around USD 50 million), the firm has built a diverse portfolio of 48 companies that includes space tech, defense, B2B SaaS, and more, all driven by a single core belief: India has the potential to create globally competitive tech products from scratch.
"We're here to back founders solving foundational, often overlooked challenges using cutting-edge science and engineering," said Manish Gupta, General Partner at growX. "Deep tech is not just a sector to us. It's a mindset. We love when Indian teams build first-in-the-world innovations that the world notices."
Founded by Ashish Taneja, who also serves as CEO, growX is a sector agnostic but thesis driven. "We don't chase trends," Taneja explained. "What excites us are long-term moats. The kind you get when you build something truly hard, something others can't replicate overnight."
This philosophy has led them to make early investments in companies like Pixxel, Cynlr, Lightspeed Photonics, and Bellatrix, resulting in several successful exits and over 5x returns on invested capital across different fund vintages. Recently, growX celebrated a partial exit from Pixxel, showcasing their keen timing and insight.
"Deep tech, industrial tech, and B2B innovation are grossly underhyped in India," Ashish added. "But that's where the next real value lies. Think semiconductors, defense tech, AI driven manufacturing. These are the companies that will reshape our economic base."
growX typically invests at the seed to early growth (Series B) stages, allowing them to collaborate closely with founders on everything from market strategies to hiring and strategic fundraising. Taneja emphasised their role as more than investors. "We're the first call in a crisis. Founders don't just get capital, they get partners."
Importantly, growX isn't limited to urban tech hubs. "Ambition doesn't have a pin code," Ashish mentioned. "We've backed remarkable founders from tier II and tier III cities who bring scrappiness and sharp insights."
Looking ahead, growX is feeling optimistic about India's industrial revival, especially in areas like robotics, defense, climate tech, advanced materials, healthcare and space-tech. "Hardware is making a comeback, and India is in a prime position to take the lead," Manish shared. "We're committed to ensuring that the right founders have the support they need to succeed."
"We also believe horizontal enablers like AI and novel materials will transform traditional industries and create entirely new categories," Taneja added. "India has a huge opportunity to leapfrog in these areas, and we are excited to partner with the founders who will drive this change."
With vision, patience, and sharp technical conviction, growX is helping write India's next innovation chapter, one deep tech breakthrough at a time.
Facts:
- Current Fund size: INR 400 crore (approx. USD 50 million)
- Current Portfolio: 48+
- Exits: Most recent: Partial exit from Pixxel
Previous exits: WIOM, Aereo, Locus, Fynd, and others
