Venture capitalists need to adopt a balanced approach and also evaluate a company’s wider ambitions while deciding to invest in companies focused on artificial intelligence (AI), said panellists at a session titled "AI Investments in India — Chasing Hype or Backing Real Disruption?" at the ET Soonicorns Summit 2025 in Bengaluru on Friday.
The panel consisted of Manav Garg, from venture capital firm Together, Rutvik Doshi of Athera Venture Partners, and Manish Singhal from pi Ventures. Sanjay Swamy of Prime Venture Partners was the moderator.
The current AI investment environment requires both rapid decision-making and careful deliberation, said Garg.
pi Ventures has been investing in AI since 2016. “Our effort was to invest in companies that are able to handle and withstand AI disruption," said Singhal.
The panel also discussed the revenue model for these companies. Speaking about revenue, Doshi said that within six to eight months, a lot of companies are able to get to $1 million in annual recurring revenue (ARR). “You have to deeply analyse. Is it able to stay longer is a question investors have to ask themselves,” he added.
GenAI startups cumulatively raised $524 million in the first seven months of 2025, as per Venture Intelligence. This is the highest raise in five years, up from $475 million in all of 2024 and 4x the $129 million raised in 2021.
Globally, GenAI startups raised $49.2 billion in the first half of 2025, according to EY, up from $44.2 billion in all of 2024.
The panel further said global ambition is crucial for success. "If your ambition is only the India level then you'll be left behind. Companies need to focus on universal models,” said Doshi.
The panel consisted of Manav Garg, from venture capital firm Together, Rutvik Doshi of Athera Venture Partners, and Manish Singhal from pi Ventures. Sanjay Swamy of Prime Venture Partners was the moderator.
The current AI investment environment requires both rapid decision-making and careful deliberation, said Garg.
pi Ventures has been investing in AI since 2016. “Our effort was to invest in companies that are able to handle and withstand AI disruption," said Singhal.
The panel also discussed the revenue model for these companies. Speaking about revenue, Doshi said that within six to eight months, a lot of companies are able to get to $1 million in annual recurring revenue (ARR). “You have to deeply analyse. Is it able to stay longer is a question investors have to ask themselves,” he added.
GenAI startups cumulatively raised $524 million in the first seven months of 2025, as per Venture Intelligence. This is the highest raise in five years, up from $475 million in all of 2024 and 4x the $129 million raised in 2021.
Globally, GenAI startups raised $49.2 billion in the first half of 2025, according to EY, up from $44.2 billion in all of 2024.
The panel further said global ambition is crucial for success. "If your ambition is only the India level then you'll be left behind. Companies need to focus on universal models,” said Doshi.
