The Venture Codex Logo

The Venture Codex

State Bank of India

State Bank Bhavan, Madam Cama Road, Mumbai, Maharashtra, 400021, India

Overview

The State Bank of India (SBI) is an Indian multinational, public sector banking and financial services company. It is a government-owned corporation headquartered in Mumbai, Maharashtra. The company is ranked 216th on the Fortune Global 500 list of the world's biggest corporations as of 2017. It is the largest bank in India with a 23% market share in assets, besides a share of one-fourth of the total loan and deposits market.

Total investments
10
Lead investments
5
Investments · 12mo
5
Active investors
6

Sector focus

  • Banking
  • Finance
  • Financial Services
Visit website

Investment portfolio

  • Sahamati

    Participated · Equity · Apr 2026

    Sahamati is a not-for-profit industry body based in Bengaluru that manages the RBI-regulated NBFC-Account Aggregator (AA) ecosystem, operating a data-sharing infrastructure between financial information providers (FIPs) and financial information users (FIUs). Its platform enables financial data to be used in credit underwriting, loan collection, customer assessment and fraud checks, and the organisation emphasizes consumer control of data. Sahamati reported total revenue of Rs 15 crore in FY25 and a net surplus of Rs 1.1 crore in filings with the ministry of corporate affairs. The organisation has attracted strategic investments from major banks, non-banking lenders, stockbrokers and fintechs, with investors taking stakes of roughly 2%–8%. Sahamati says the recent funding will be used to deepen ecosystem participation, strengthen technical and policy frameworks, and build institutional capacity to scale. The investments align with RBI plans for a self-regulatory organisation in the AA space and aim to move the platform toward collective ownership, governance, interoperability and standards.

  • BillionE (BillionElectric)

    Led · Equity · Jan 2026

    Founded in 2021, BillionElectric Mobility (BillionE) builds and operates electric trucks, buses, charging infrastructure, and proprietary telematics platforms for India’s logistics sector. The company positions itself as a turnkey provider, handling vehicle supply, charging, and fleet management for medium- and heavy-duty freight customers. BillionE has already locked in more than 250 long-term EV truck contracts across the country, demonstrating early commercial traction. Management plans to deploy over 500 additional electric trucks by FY27 and to invest heavily in fleet-management software and partner integrations. Its long-term vision is to make electric trucking a mainstream, dependable, and cost-competitive option that supports national decarbonization goals. Prior to the current raise, BillionE secured a $10 million seed round in 2023, giving it a disclosed funding total of $35 million to date.

  • Ripplr

    Led · Series C · Nov 2025

    Ripplr operates a unified distribution network that combines logistics, on-ground execution, inventory intelligence, and retailer relationships to help consumer brands manage everything from demand forecasting to last-mile delivery. Its platform services large FMCG players such as Unilever, Nestlé, Tata, Godrej, Nivea, and Dabur. The company claims to reach roughly 100,000 retailers and to process hundreds of thousands of orders each month, underscoring its nationwide footprint and operational scale. In FY25, Ripplr’s gross revenue grew 13% year-on-year to Rs 1,164 crore, while losses remained nearly flat at Rs 91 crore. Founded by Abhishek Nehru and Santosh Dabke, the startup positions its technology backbone as a key differentiator in India’s fragmented distribution landscape. The fresh capital is expected to bolster its tech stack and expand geographic coverage, further deepening penetration with existing and new brand partners.

  • Oroos Confectionery

    Participated · Seed · Oct 2025

    Oroos Confectionery, founded by Raje Suneet Jain and Prashant Manral, develops indulgent yet affordable confectionery products aimed at consumers outside India’s major metros. Unlike many DTC peers, the company is building its own fully automated manufacturing facility in Greater Noida to control quality and margins. Its go-to-market strategy focuses on the general-trade channel, initially targeting the North and North-East regions. Management plans to appoint more than 50 distributors and achieve direct reach to 25,000 retail outlets within the first six months of launch. The brand positions itself as a "Make-in-India" offering for the 300 million-strong “India 2” consumer cohort. Recently it raised ₹20 crore to fund plant construction and distribution rollout, setting the stage to commercialise operations by year-end.

  • Hero Future Energies

    Led · Debt Financing · Oct 2025

    Hero Future Energies is focused on building large-scale renewable energy assets that blend wind, solar and battery storage to supply dependable peak power. Its latest undertaking is a 120 MW hybrid project in Kurnool, Andhra Pradesh, being executed through the special-purpose vehicle Clean Renewable Energy Hybrid Three Private Limited. The project is contracted to sell power to SJVN, highlighting the company’s strategy of securing long-term offtake agreements. By integrating multiple clean technologies, the firm aims to deliver grid-reliable renewable electricity and strengthen its presence in India’s fast-growing green power sector. The company recently arranged significant long-tenor financing to ensure on-time construction and commercial operation. With a 21-year repayment profile, the capital structure is tailored to match the project’s cash-flow generation.

Team