2024 at Ideaspring Capital: Year in Review

As we approach the end of the year, it's a great opportunity to reflect on our collective achievements and growth at Ideaspring Capital. This year has been filled with remarkable milestones, innovative projects, and valuable lessons learned.

Through the years, we’ve been excited by disruptive technologies and in 2024 too, we looked at and invested in innovations around Green chemistry, Quantum Acceleration, Synthetic Biology, Raman Spectroscopy and Aerospace by backing entrepreneurs with specialised expertise. This has led to a diverse portfolio of 31 companies with defensible IP and untapped market potential

Ideaspring Capital made significant investments in 7 innovative startups in 2024, focusing primarily on disruptive technologies. Among its notable investments:

• ClearTrust aims at enhancing its product offerings in the digital trust and security space
• Accelequant is a platform to accelerate the commercial deployment of quantum computing that aligns with Ideaspring's strategy of building globally scalable ventures using software
• FlyNava Technologies secured funding in June 2024 to advance its AI-driven pricing solutions for the airline industry
• Gyrophint uses Raman Spectroscopy for use cases in Security and Healthcare
• Numocity y, a software company for Electric Vehicle users and chargepoint operators
• Gooru bridges the personalisation gap between learners and content creators using AI
• Phyx44 Labs is re-doing dairy without cows in its vision of creating a zero carbon footprint in the food industry

We also saw Lavelle Networks , Mihup.ai , Convertcart , Ahammune Biosciences Pvt. Ltd. , Smart Ship? Hub and Litemed India Private Limited raise follow-on rounds of capital through the year to set themselves up for growth in 2025 and beyond. In addition to funding raised, we are excited by milestones that some of our portfolio companies hit, like BluJ Aerospace Private Limited flight take off, Sanofi’s launch of Allegra Airways using Ambee climate APIs, Smart Ship? Hub strategic partnership with Nakakita and Ahammune Biosciences Pvt. Ltd. being recognized as one of India’s coolest startups!

2024 would not be complete without talking about Generative AI. Eliezer Yudkowsky, a renowned American Artificial Intelligence researcher said, “By far, the greatest danger of Artificial Intelligence is that people conclude too early that they understand it.” ?We’ve spent a large part in 2024 trying to understand AI by conducting workshops, demystifying the hype, understanding the Agentic AI space and working with our portfolio companies who are incorporating AI into their workflows.

What we take most pride in at Ideaspring Capital is the relationships we build and nurture. During the year, we met and worked with some fantastic people to conduct a US GTM workshop, a marketing workshop for all our portfolio companies, a B2B pitch session in Chennai and participating in a global event to understand how Biosciences can power the Bioeconomy. We also had the privilege of having folks like Mukesh Singh, Founder and CEO of Zopsmart, Sriram Rajamani, Corporate VP and MD, Microsoft Research India and Sanjay Nayak, CEO of Tejas Networks, address our startups at our office. If that wasn’t sweet enough, the icing on the cake would be the gathering of close to 200 people consisting of founders, LPs, co-investors and ecosystem enablers who got together on a warm evening in April 2024 to celebrate the paths we’ve taken together and the paths that we are yet to take.?

As we say goodbye to 2024, we are grateful for every moment and excited for what lies ahead in 2025. Happy New Year!