NuVentures Makes Strategic Investment in Perplexity AI NuVentures did not disclose the size of its investment in Perplexity, which came through a secondary transaction.
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Bengaluru-based early-stage venture capital firm NuVentures has invested in Perplexity AI, one of the fastest-growing companies in the artificial intelligence sector.
The deal, made through a secondary transaction, marks a significant step for the Indian VC as it deepens its exposure to the US-led artificial intelligence ecosystem. While the investment value remains undisclosed, NuVentures said it has already seen a rapid increase in the worth of its stake.
NuVentures founder Venk Krishnan said, "Our investment in Perplexity gives us access to the larger ecosystem of AI startups in the US." He added that the firm's focus is on building bridges between India and global enterprise technology markets.
Founded in 2022 by a team that includes IIT Madras alumnus Aravind Srinivas, Perplexity AI has quickly gained prominence as a key disruptor in the generative AI industry. The company is now seen as a rival to established names such as OpenAI, Anthropic, Meta, Grok, and Gemini. Its valuation has climbed sharply, rising from USD 520 million in January 2024 to nearly USD 18 billion this year. High-profile investors such as SoftBank, Databricks, Nvidia, and Amazon founder Jeff Bezos are among those backing the startup.
In a recent headline-making move, Perplexity put forward an unsolicited USD 34.5 billion offer for Google's Chrome browser. The company's unique approach to internet browsing, which incorporates AI to provide contextual search results rather than a list of options, has been highlighted as its defining feature.
For NuVentures, the Perplexity investment strengthens its position in the AI sector and offers a vantage point to observe how global enterprises are deploying the technology. "Our goal is to get our name out in the market, gain recognition, and attract good startup founders," Krishnan remarked.
Established in 2015, NuVentures recently launched a USD 75 million fund to back startups in the US and India. The firm has previously invested in more than 47 companies, including Bigbasket, Acko, Third Wave Coffee, HomeLane, Geist Beer, Lucidity, and Foxtale. Its early bets on Mu Sigma and NetKraft are well regarded in the startup ecosystem.
Krishnan emphasised that India's technology ecosystem must evolve beyond consumer-centric ventures. "We need to start building truly disruptive products for enterprise markets," he said. He also stressed the importance of greater collaboration among startups, large enterprises, and the government to accelerate India's role in the global AI landscape.
In the long term, NuVentures expects its association with Perplexity to provide Indian startups with valuable insights and a stronger foothold in the rapidly evolving world of artificial intelligence.
