Boundless Ventures launches Rs 200 Cr fund to invest in Indian AI startups

Boundless Ventures, an early-stage venture capital firm founded by Natasha Malpani, has launched a Rs 200 crore fund with a focus on investing in AI startups from India.

Natasha Malpani, a former venture partner at Kae Capital, will invest at the pre-seed and seed-stage funding into startups building AI stacks in the spaces of consumer, infrastructure, agent tooling and vertical applications in healthcare and logistics, and make-in-India hardware and deeptech.

“India has a once-in-a-generation advantage: the talent density, the digital rails, and the ambition to build companies that can lead globally from day one,” Malpani said.

She further noted that AI is now moving from experiments to infrastructure, and the next decade will be defined by the teams that can turn raw capability into enduring systems and categories.

Boundless Ventures has already invested in six startups—SuperHealth, Armatrix, Piersight, Knot, and two undisclosed names.

“Our model combines capital with deep narrative support, helping companies articulate and win categories before they’re named,” Malpani remarked.

AI has emerged as the key theme across the startup ecosystem. Unlike in the US or China, where AI startups continue to garner billions of dollars of investments, the picture is not the same in India. There are a few pure-play AI startups in India.

According to YourStory Research, Indian startups raised $65 million in July 2025 from 14 deals. This is still a minuscule number when compared to developments that are happening in other markets.

At the same time, the government has also unveiled the National AI Mission to create the ecosystem for this technology platform by providing the much-needed semiconductor chips for the startups. The IndiaAI Compute Capacity is envisioned to erect a cutting-edge, scalable AI computing infrastructure by deploying over 10,000 Graphics Processing Units (GPUs) through strategic public-private collaborations.