5 days ago
Caret Capital Raises Over INR 160 Cr in 6 Months, Eyes INR 400 Cr for Sustainability-Focused Fund
Caret Capital is set to announce four investments: an electric 2-wheeler platform for gig workers, a battery lifecycle firm, a rural livestock feed distributor, and an AI-powered SaaS platform for tracking carbon emissions in supply chains.
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Caret Capital, a venture capital fund dedicated to sustainability, has successfully raised over INR 160 crore within just six months of its launch. The early-stage thematic fund is backed by prominent investors including Bajaj Auto, Transport Corporation of India (TCI), and a leading US-based private foundation. The firm is targeting a total corpus of INR 400 crore.
The fund focuses on startups driving India's growth across smart mobility, distribution and supply chain, and jobs—three key sectors projected to contribute over USD 1.2 trillion to the Indian economy by 2030.
"Our mission is to back entrepreneurs who are building the next generation of sustainable solutions that will shape India's future," said Prajakt Raut, Co-founder and Partner at Caret Capital. "The strong interest from investors is a testament to the potential of our thematic approach."
Caret Capital aims to create a lasting impact by enabling the creation of 10 million jobs and reducing 10 million metric tons of carbon emissions through its investments.
The fund is preparing to announce four key investments, including:
A subscription-based electric 2-wheeler platform for gig workers,
for gig workers, A battery lifecycle management company ,
, A livestock feed distribution startup for rural markets, and
for rural markets, and An AI-powered SaaS platform that tracks carbon emissions in supply chains.
To support early-stage startups, Caret Capital runs Caret360, a 100-day accelerator program that provides capital, mentorship, and deep market access. Additionally, its annual event, Caret GPS (Growth Productivity Summit), gathers industry leaders to explore innovations and productivity solutions. The next edition is scheduled for later this year.
With a portfolio that includes 27 innovative startups like Celcius, Unstop, Traqcheck, EVeez, Awign, and Enmovil, Caret Capital continues to strengthen its track record in backing transformative ventures.
Led by Pankaj Bansal, Karan Mittal, and Prajakt Raut, the fund remains committed to investing in startups aligned with India's structural development and sustainable future.
