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The Venture Codex

Capital 2B

Ground Floor, 12A 94, Meghdoot, Nehru Place, South Delhi, Delhi, 110019, India

Overview

A USD 75Mn fund focused on investing in tech and ip led businesses, backed by stellar LPs. The fund invests in early stage and growing startups that are rooted in science and technology.

Total investments
12
Lead investments
6
Investments · 12mo
3
Active investors
1
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Investment portfolio

  • HyperNorm AI

    Led · Seed · Jun 2026

    HyperNorm AI provides a decision intelligence platform for wealth advisors and registered investment advisors that monitors large volumes of client portfolios, identifies which portfolios require attention, and diagnoses underlying drivers. Its AI-powered causal reasoning engine processes market events, evaluates their impact on client portfolios, and translates those insights into transparent, explainable recommendations. The platform is designed to handle portfolios spanning equities, fixed income, structured products, alternatives and foreign exchange. HyperNorm says it currently serves paying clients across the U.S., Singapore and India. The company was founded in 2024 by Keyur Faldu and Peeyush Jain. Following its $2.2 million seed raise, HyperNorm plans to accelerate product development and expand internationally while strengthening its engineering and AI research teams.

  • Ringg AI

    Participated · Series A · Jan 2026

    Founded in October 2023, Ringg AI offers a no-code platform that lets enterprises design, deploy and manage voice agents for both inbound and outbound use cases such as customer support, sales, collections, logistics and appointment scheduling. Its voice agents currently handle about 1.5 million conversations per month, with roughly 77 % of those fully automated. The system supports 18 languages—including 10 Indian languages plus English, Arabic, Spanish, French, German and Bahasa—enabling deployment across diverse geographies. Ringg AI serves more than 20 enterprise customers, including CRED, PharmEasy, Shiprocket, Flipkart and Shell, and is running pilots in the GCC, US-East and North America. The company aims to scale to 100 million voice interactions over the next 12 months and ultimately reach 100 million interactions per month by 2027. Near-term plans also include building in-house GPU clusters and proprietary AI models to shorten deployment cycles and reduce dependence on third-party APIs.

  • Pantheron Technologies

    Participated · Equity · Oct 2025

    Founded in 2019 by Srinivas Shaaker and Tiffany Chan, Pantheron Technologies develops patented, industrial-grade encryption that uses artificial intelligence to generate unique keys on-device, eliminating key sharing and reducing attack surfaces. The platform embeds access-control, monitoring and compliance tools, and is positioned to counter emerging threats such as quantum computing. Pantheron’s technology can be deployed across IoT devices, vehicles, cameras, data centers and cloud software, giving enterprises a unified way to protect data in high-volume, low-latency environments. With rising global regulation and an expected 20 billion connected devices this year, the company sees demand for lightweight, regulator-friendly encryption that does not add operational drag. Pantheron plans to channel fresh capital into expanding sales and support in North America, Europe and selected Asia-Pacific markets, while deepening R&D to launch new device-, edge- and cloud-ready encryption products. Prior to the latest round, the company had secured $7.55 million from investors including Capital 2B, CDBI Venture Capital, Piper Serica, Thinkweight, Grox Ventures and Sanjay Kataka. Including the current raise, Pantheron’s disclosed funding now totals $19.55 million.

  • Manastu Space

    Participated · Series A · Aug 2025

    Manastu Space develops green propulsion and debris-avoidance systems for satellites, including its VYOM 2U green propulsion system. The company test-fired VYOM 2U onboard PSLV C-60 in December 2024; the system is a non-toxic alternative to conventional chemical and electric propulsion. It aims to move from Technology Readiness Level 8 (TRL-8) to TRL-9 to enable long-term operational use in space and plans to develop in-orbit servicing technologies such as satellite refuelling, deorbiting, and mission life extension. Manastu Space has contracts with clients including the Defence Research and Development Organisation (DRDO), French company Latitude, and Innovations for Defence Excellence (iDEX). Founded in 2017 by Tushar Jadhav and Ashtesh Kumar and based in Mumbai, the company plans to expand to the United States, Europe, and Asia and to engage with satellite OEMs, constellation operators, and service integrators. It raised $3 million in a round led by Capital-A to fund commercial deployment of its propulsion and debris-avoidance solutions. Manastu Space Technologies develops green propulsion and debris-avoidance solutions and is building in-orbit servicing capabilities such as satellite refuelling, deorbiting and mission life extension. The company plans a commercial rollout of its green propulsion and debris-avoidance products and continued development of its in-orbit servicing technologies. It recently raised capital to support these commercialisation and R&D efforts. The article cites India’s private space economy growth projection as contextual market opportunity. Manastu Space was founded in 2017 by IIT Bombay alumni Tushar Jadhav and Ashtesh Kumar. The company’s immediate focus is on deploying its propulsion and debris-mitigation offerings while advancing satellite servicing capabilities.

  • Matter

    Participated · Equity · Jun 2024

    Matter manufactures premium e-bikes and positions itself as a premium brand with starting prices around Rs 1.7 lakh. The company unveiled its first bike early in 2023 and opened pre-orders in May 2023. To raise growth capital the board issued 112,837 compulsorily convertible preference shares (CCPS) at Rs 7,320 each, collecting Rs 82.6 crore (roughly $10 million). Matter was in a pre-revenue stage in the fiscal year ending March 2023 and reported losses of Rs 25 crore for that period; FY24 annual results have not yet been filed. Management has discussed a potential larger raise of about $200 million to expand factory capacity, distribution, and operations. The company faces competition from Tork Motors, Ultraviolette, and Revolt, and the article notes Ola Electric intends to enter the e-bike market by FY26. Matter is a vertically integrated product‑tech startup focused on electric mobility and energy storage. The company is gearing up to launch its first electric motorcycle later this year and aims to develop a world‑class portfolio of EV and energy storage products. Founded in 2019 by Mohal Lalbhai, Arun Pratap Singh, Kumar Prasad Telikepalli and Saran Babu, Matter is driven by a team of more than 230 technology innovators who collectively claim over 1,000 years of experience in the EV and energy tech domain. Matter emphasizes a homegrown technology stack and vertical integration to catalyze the clean energy transition in India. It raised $10 million in its latest funding round, and says the funds will be used for continuous technological innovations, manufacturing and marketing. Management expects the launched vehicle to set new benchmarks in the Indian electric two‑wheeler industry.

Team