Our investment
Description of the investment.
Description of the investment.
This investment is part of our strategy to (i) support the local entrepreneurial ecosystem in our markets in order to build new businesses which create jobs, and; (ii) provide us access to early-stage companies that have the potential to create transformational impact at scale.
pi Ventures II will support the growth of new businesses which are driving innovation and economic growth. It will invest seed capital in artificial intelligence (AI) and deep-tech-focussed start-ups that can foster technology innovation in key development sectors. It will also further develop the Indian venture ecosystem. This can be expected to deliver productivity gains for businesses and cheaper, more affordable and technologically superior goods and services for consumers.
Impact information
Applies to investments made from 2019 onwards. The tabs in this section define what we expect to achieve through the investment, assessing the potential impact of the investment against six dimensions of impact. You can find more details on our methodology of assessing impact here.
Applies to investments made from 2019 onwards. The tabs in this section define what we expect to achieve through the investment, assessing the potential impact of the investment against six dimensions of impact. You can find more details on our methodology of assessing impact here.
What?
| Impact |
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How?
| Primary | Secondary |
|---|---|
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Who?
| Stakeholder | Geography | Characteristics |
|---|---|---|
| Suppliers and employees. |
India-based companies (often with global customer base) |
Variable. Fund I portfolio primarily reached white-collar workers, with a smaller number of investments targeting manufacturing firms and SMEs. |
| Consumers |
Variable. Different business models are likely to reach different economic segments though many solutions are designed for Tier 2/3 cities and rural areas with greater unmet demand. |
How much?
| Scale | Depth/Duration |
|---|---|
|
Portfolio companies such as Locus (AI based logistics management platform) completes nearly 12 million orders monthly, and SwitchOn (AI based IOT solution for improving operational efficiency of manufacturing plants) inspected 4.3 million parts. Fund I is currently supporting 860 direct jobs at its portfolio companies. |
A study estimated that AI has the potential to increase India’s annual growth rate by 1.3 per cent and add $957 billion to India’s economy (15 per cent of GDP) in 2035. |
Contribution/additionality
| Contribution/additionality |
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Risk
Execution Risk
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Impact score
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Impact score (at point of investment)
The Impact Score is a tool to help us manage our performance against our strategic impact objectives. It is designed to incentivise investments that support our productive, sustainable, and inclusive objectives. The Impact Score shown is based on the 2022-2026 Impact Score methodology. You can find out more here. The Impact Score is published for investments made from 2022 onwards. The Impact Scores are calculated at the point of investment. We publish the Impact Scores of new investments annually, once the information has been externally assured by an independent third party. |
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5 |
Environmental and social information
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Environmental and social summary
A high-level description of the environmental and social aspects of the investment. This may include a summary of key environmental and social risks identified during environmental and social due diligence (ESDD); key elements of an environmental and social action plan (ESAP); or ways in which we plan to support the investee improve environmental and social standards, such as through their environmental and social management system (ESMS); as well as any other priority areas agreed with the investee.
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Environmental and social risk
A risk category rating, which indicates the level of environmental and social risk associated with an investment. For an explanation of the categorisations used, see here. We consistently provide an environmental and social risk category for all investments screened from 2023 onwards.
Environmental and social summary
We are supporting the fund manager to further enhance their existing ESMS.
Environmental and social risk
Low
Reporting and Complaints Mechanism
The Reporting and Complaints Mechanism allows anyone outside BII to report alleged breaches of the business integrity or environmental and social provisions of BII’s Policy on Responsible Investing. This includes breaches made by BII, a BII investee, or a portfolio company of a fund in which BII has invested. The Reporting and Complaints Mechanism Rules are available here. Reports and complaints can be submitted by email to [email protected] or by mail. See more details on our Reporting and Complaints Mechanism here.
For any other general enquiries contact us at [email protected]
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Key facts
- Last updated
:
When the last quarterly update of the website database occurred.
- June 2026
- Project number
:
An identifier number shared by investments in the same project.
- D5558
- Status
:
The current status of the investment (green flag for active and red flag for exited).
- Active
- Region
:
The geographical region where the country is located. We currently invest in Africa, South Asia, South East Asia and the Caribbean. In 2023, BII’s investment mandate was extended allowing it to invest in regional funds linked to Ukraine, with the majority of activity expected to begin post-war. Investments outside these regions were made prior to 2012 under previous investment mandates.
- South Asia
- Country
:
The countries where the investment delivers impact. Where impact is delivered in multiple countries, this is indicated.
- India
- Sector
:
We prioritise those sectors that facilitate development and need our capital the most. Our priority sectors contribute towards many of the Sustainable Development Goals. They range from investing in the power infrastructure that will provide people with better access to electricity, to investing in financial institutions that direct capital to the individuals and businesses that need it the most.
- Construction and real estate, Health, Infrastructure, Manufacturing, Technology and telecoms
- Investment policy :
- Growth
- Investment type :
- Fund
- Start date :
- October 2022
- Amount :
- $8.11m
- Currency of investment :
- INR
- Fund manager:
- pi Partners LLP
- Domicile
:
The company or investment fund’s place of incorporation.
- India
We provide capital in the following ways: directly – through direct equity, direct debt, guarantees and other non-intermediated financial instruments; and indirectly – principally through investment funds.
Type of investment portfolio that each investment is made under. Since 2014, we have run two investment portfolios: Catalyst and Growth. In addition, our Kinetic Portfolio enables us to manage concessional investment strategies.
For direct investments and fund investments, this is the date BII committed capital to the investments. This is typically the date on which legal agreements are signed by all parties.
For the portfolio companies of our fund investments, this is the date (either the month or the quarter) on which the fund committed capital to the portfolio company.
For direct equity investments, this is the date at which British International Investment exited the investment.
For debt investments, this is the date at which the final debt repayment was made.
For funds, this is the date at which the fund was terminated.
For underlying fund investments, this is the date at which the fund manager exited the investment.
The total amount committed, per financial instrument, per investment, on the date BII becomes subject to a binding legal obligation to provide funding or assume a contingent liability. This information is provided in US dollars.
For direct investments, this is the amount that BII has committed to the business or project. For fund investments, this is the amount BII has committed to the fund.
The currency in which the investment was made.
- Last updated
Investments made by this fund into companies:
For further information about these companies, visit https://www.piventures.in/
| Investment name | Country | Region | Sector | Fossil Fuel or Renewable Exposure | Start date | Status |
|---|---|---|---|---|---|---|
| Ahammune Biosciences Pvt. Ltd | India | South Asia | Health | September 2024 | Active | |
| Arkle Energy Solutions Private Limited | India | South Asia | Infrastructure | March 2025 | Active | |
| Armatrix Automations Private Limited | India | South Asia | Manufacturing | June 2025 | Active | |
| Aule Space Inc. | India | South Asia | Manufacturing | December 2025 | Active | |
| Clean Electric Pvt. Ltd | India | South Asia | Infrastructure | September 2024 | Active | |
| Genohelex Care Private Limited | India | South Asia | Health | December 2025 | Active | |
| Green Aero Propulsion Private Limited | India | South Asia | Infrastructure | June 2025 | Active | |
| Helex Inc | India, USA | South Asia, US & Canada | Health | December 2025 | Active | |
| Heni Innovation Private Limited | India | South Asia | Health | April 2023 | Active | |
| Immunito AI Private Limited | India | South Asia | Health | August 2021 | Active | |
| Lightspeed Photonics Private Limited | India | South Asia | Manufacturing | June 2024 | Active | |
| Moonrider Private Limited | India | South Asia | Infrastructure | December 2025 | Active | |
| Ottonomy IO Private Limited | India | South Asia | Manufacturing | August 2022 | Active | |
| Pranos Fusion Private Limited | India | South Asia | Technology and telecoms | March 2026 | Active | |
| Preimage Private Limited | India | South Asia | Technology and telecoms | August 2022 | Active | |
| Quanfluence Private Limited | India | South Asia | Manufacturing | December 2024 | Active | |
| RagaAI Inc. | India | South Asia | Technology and telecoms | March 2022 | Active | |
| RepelloAI Technologies Private Limited | India | South Asia | Technology and telecoms | June 2024 | Active | |
| Revenant Space India Private Limited | India | South Asia | Construction and real estate | December 2025 | Active | |
| Silence Laboratories India Private Limited | India, Singapore | South Asia, Southeast Asia | Technology and telecoms | August 2022 | Active | |
| Theranautilus Private Limited | India | South Asia | Health | November 2024 | Active | |
| TurboML | India | South Asia | Technology and telecoms | June 2023 | Exited | |
| ULEO Space Private Limited | India | South Asia | Construction and real estate | June 2025 | Active | |
| Velmenni Research and Development Private Limited | India | South Asia | Manufacturing | March 2026 | Active |
