Info Edge Startup Portfolio Hits Rs 41,300 Cr; AI IRR at 31%
Key Takeaways
- Info Edge's total startup portfolio now stands at Rs 41,300 crore after a Rs 4,900 crore investment.
- The AI segment alone delivers a 31% IRR, highlighting the success of early-stage bets.
Mentioned
Key Intelligence
Key Facts
- 1Info Edge deployed Rs 1,003 crore across 54 AI and deeptech startups since 2020, before the global AI wave peaked.
- 2AI investments: Rs 614 crore in 28 startups, portfolio valued at Rs 1,268 crore, implying a 2.1x multiple and ~31% gross IRR.
- 3Deeptech investments: Rs 455 crore in 30 startups, valued at Rs 559 crore, 1.2x multiple, ~15% IRR, many at IP creation stage.
- 415 of 28 AI startups and 13 of 30 deeptech companies have raised externally-led follow-on funding rounds.
- 5Voice AI startup Gnani.ai received Rs 177 crore worth of government GPU compute credits under the IndiaAI Mission.
- 6Overall, Info Edge and its AIFs have invested Rs 4,900 crore across 135 startups, with a portfolio valued at Rs 41,300 crore as of March 31, 2026.
As of March 31, 2026
Analysis
For founders and VCs, Info Edge's disclosure is a masterclass in strategic, long-term venture building. The four-phase evolution from consumer tech to deep tech, combined with an unwavering focus on Indian founders, provides a blueprint for how corporate VCs can generate outsized returns while fostering a globally competitive ecosystem.
Info Edge (India) Ltd., the parent company of leading Indian job portal Naukri, has disclosed a significant concentration of capital in artificial intelligence and deeptech startups, having deployed Rs 1,003 crore across 54 companies since 2020. In a shareholder letter dated June 22, 2026, the company highlighted that it began investing in these themes well ahead of the global AI investment wave, positioning itself as an early institutional backer of Indian founders building in areas such as enterprise AI, robotics, semiconductors, spacetech, biotechnology, and electric mobility. The revelation underscores a strategic shift toward technology-driven value creation, with the combined AI portfolio now valued at Rs 1,268 crore (2.1x multiple, ~31% gross IRR) and the deeptech portfolio at Rs 559 crore (1.2x multiple, ~15% IRR). The company’s total startup investments, including earlier bets like Zomato and Policybazaar, now command a portfolio value of Rs 41,300 crore, demonstrating the compounding returns of patient, early-stage capital.
The revelation underscores a strategic shift toward technology-driven value creation, with the combined AI portfolio now valued at Rs 1,268 crore (2.1x multiple, ~31% gross IRR) and the deeptech portfolio at Rs 559 crore (1.2x multiple, ~15% IRR).
The timing of Info Edge’s foray into AI and deeptech is particularly noteworthy. By initiating investments in 2020, the company preempted the mass influx of venture capital into AI that intensified in 2023-2024, allowing it to secure favorable entry valuations and build a diversified portfolio before competition heated up. This strategy has started to bear fruit: 15 of the 28 AI startups and 13 of the 30 deeptech companies have already raised externally-led follow-on funding rounds, validating their market traction and signaling confidence from other institutional investors. Among these, voice AI startup Gnani.ai was selected under the government’s IndiaAI Mission and awarded Rs 177 crore worth of GPU compute credits, a significant non-dilutive resource that accelerates its technology development. Similarly, spacetech ventures ePlane and Manastu Space have secured allocations under the Research, Development and Innovation (RDI) scheme, reflecting the alignment of Info Edge’s portfolio with national technology priorities.
The deeptech portfolio, while delivering a lower IRR of 15% compared to AI, is inherently longer-gestation, with many investments made at the intellectual property creation and R&D stage. This portfolio spans high-barrier sectors such as robotics (Unbox Robotics), semiconductors (Bharat Semi), biotech (String Bio, Brainsight AI), and electric mobility. The 1.2x multiple, while modest, is likely to improve as these companies transition from prototype to commercial scale. For investors, the differential performance between the AI and deeptech buckets highlights the risk-reward profile of each: AI startups are closer to revenue generation and enterprise adoption, while deeptech plays require patient capital but can unlock transformative outcomes, especially when supported by government initiatives.
The broader investment context is that Info Edge and its managed alternative investment funds (AIFs) have cumulatively invested about Rs 4,900 crore across 135 startups since inception, with a current portfolio value of Rs 41,300 crore as of March 31, 2026. This implies an overall multiple of approximately 8.4x on invested capital, driven primarily by its high-profile exits and mark-to-market gains in listed entities like Zomato. The company’s 18-year investment journey has unfolded in four distinct phases, evolving from consumer internet bets to a current focus on deep technology, indicating a learning curve and increasing sophistication in venture investing.
What to Watch
For the Indian startup ecosystem, Info Edge’s commitment signals several important themes. First, the availability of domestic, long-term capital for deep technology is expanding, reducing dependence on foreign venture capital. Second, the government’s active role through missions like IndiaAI and RDI is creating a complementary support structure that de-risks private investment. Third, the success of AI startups in attracting follow-on funding suggests that India’s AI talent is globally competitive, and companies building for both domestic and global markets can achieve venture-scale outcomes. However, challenges remain: many deeptech startups face longer paths to commercialization, regulatory uncertainties, and the need for specialized talent. Info Edge’s letter hints at an ongoing strategy to not just back but also mentor these companies, leveraging its experience of taking companies from early stage to IPO.
Looking ahead, Info Edge expects AI, deeptech, and consumer technology to drive future value creation. The company’s preference for India-domiciled, Indian-founder-led startups—regardless of target market—aligns with the broader goal of building sovereign technological capabilities. As the portfolio companies mature, investors will closely watch for potential IPOs or strategic acquisitions. The AI portfolio, with a 31% IRR and several companies already scaling, may present the nearest-term exit opportunities. Meanwhile, deeptech bets like Manastu Space and ePlane could benefit from India’s expanding space program and defense-related demand. Ultimately, Info Edge’s disclosures provide a rare and granular look at how a corporate-backed venture investor is navigating the high-stakes world of frontier technology, setting a benchmark for returns and strategic focus in India’s rapidly evolving innovation landscape.
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