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The Venture Codex

Incubate Fund India

45/1 Magrath Road, Ashok Nagar, Bengaluru, Karnataka, 560025, India

Overview

Incubate Fund India is a seed and pre-seed stage focused venture capital fund backed by Japan's leading seed focused fund, Incubate Fund.

Total investments
15
Lead investments
9
Investments · 12mo
6
Active investors
2

Sector focus

  • Consulting
  • Financial Services
  • Venture Capital
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Investment portfolio

  • Fairdeal

    Participated · Series A · May 2026

    Fairdeal operates a dark store-led B2B quick commerce platform that promises to deliver more than 1,000 SKUs to kirana retailers within 60 minutes. The company is currently operational in Delhi-NCR, servicing over 20,000 active retailers and fulfilling about 50,000 orders monthly with an average order value of Rs 3,500. Fairdeal plans to expand into Mumbai and Bangalore and aims to scale its retailer network to more than 100,000 in the current financial year. It is focused on building supply and distribution infrastructure for offline retail, and competes with Udaan and Jumbotail in the food and grocery wholesale segment. The company intends to deploy new funding to add dark stores, improve technology and data capabilities, and expand last-mile delivery coverage.

  • Pulse

    Participated · Seed · Feb 2026

    Founded in 2025 by Anshul Sharma and Nishant Goel, Pulse operates as a full-stack medical equipment company that integrates product design, MSME manufacturing, regulatory compliance, and distribution under one roof. The startup focuses on low- and mid-complexity equipment in categories such as critical care and renal care, initially targeting India’s 50- to 200-bed hospitals. By aggregating and standardizing output from India’s MSME manufacturers, Pulse delivers globally compliant products at competitive price points while unlocking scale for local producers. The firm is setting up an R&D hub to accelerate product development and secure international certifications. Future plans include expanding sales to larger hospital chains and broadening its catalog across additional medical specialties. Pulse positions itself as a horizontal OEM platform capable of serving both domestic and global markets within a medical devices sector valued at over $550 billion. The recent seed funding strengthens its financial footing to execute these growth initiatives, though no revenue or user metrics were disclosed in the article.

  • Intellend Technologies

    Led · Seed · Jan 2026

    Founded in 2025 by Brotish Das, Som Chatterjee, and Bodhisattwa Gupta, Intellend Technologies is building a cloud-based lending-as-a-service platform tailored for digital merchant ecosystems. The company integrates data from merchant platforms with its AI-led credit underwriting engine to offer instant, small-ticket financing to underserved businesses. Its technology aims to improve credit access for millions of SMEs by embedding credit products directly within partner ecosystems. With the newly raised capital, Intellend plans to expand its team, enrich its product suite, and accelerate go-to-market efforts. The founders also intend to deepen partnerships with merchant platforms and financial institutions, launch additional financial products, and explore select international markets. Although still at an early stage, the team brings prior experience scaling billion-dollar lending operations, positioning the startup for rapid growth.

  • Flent

    Led · Series A · Jan 2026

    Founded in October 2023, Flent operates a technology-enabled rental housing platform that delivers fully furnished, move-in-ready homes with flexible lease terms and no brokerage or large security deposits. The company handles every stage of the rental journey—including design, onboarding, tenant screening, maintenance, and rent assurance—providing a seamless experience for both landlords and tenants. It currently manages 350 rooms across 140 premium homes in Bengaluru and reports occupancy rates of 90–95%, with the average tenant staying about 14 months. Flent targets high-value residential properties, particularly those owned by investors and NRIs, where professional management is still fragmented. With fresh capital, the startup plans to expand into Mumbai and Gurugram. The roadmap also includes new features such as flatmate discovery, vacancy protection for landlords, and AI-based location and budget discovery tools. No revenue figures were disclosed in the article.

  • Lumov

    Led · Seed · Dec 2025

    Lumov is a Bengaluru-based medical device startup that designs and produces clinically validated orthotics, rehabilitation aids, and pain-management solutions for musculoskeletal (MSK) care. Working closely with orthopedic specialists at hospital chains such as Manipal, Apollo, Sakra, and AIG, the company tailors its products for Indian patients recovering from surgery or managing chronic pain. Co-founded by Saumaric Dangwal and Ankit Gupta, Lumov positions itself as the "physical product layer" complementing advances in diagnostics and care delivery. The firm currently employs about 15 people and intends to grow its team as it scales manufacturing, product development, and market reach. Near-term expansion plans include entering Delhi-NCR, Hyderabad, and Mumbai and deepening sales and clinical partnerships. Capital raised will also accelerate R&D across post-surgical recovery and rehabilitation categories.

Team