Quick Take
- Former Kae Capital partner launches ₹200 crore ($24M) early-stage AI fund
- Fund backs 6 startups including Super Health, AR Matrix, and Pier sight
- Indian AI startups raised $524 million in first 7 months of 2024—highest in 5 years
- Government plans 10,000+ GPUs for startup access through India AI mission
- Fund targets pre-seed and seed AI companies across healthcare and logistics
Natasha Malpani, a former partner at Kae Capital, has launched Boundless Ventures with ₹200 crore to reshape India’s AI startup ecosystem. The fund targets breakthrough companies in healthcare, logistics and infrastructure.
Malpani brings impressive credentials to the venture. She studied at Stanford and co-founded Dice Media before establishing Boundless Media. Her latest fund, Boundless Ventures, represents a ₹200 crore (approximately $24 million) commitment to early-stage AI companies.
Building the Complete AI Infrastructure
The fund writes pre-seed and seed checks for AI companies across multiple layers. Consumer AI, infrastructure, agent tooling, and vertical applications all fall within scope. Healthcare and logistics stand out as priority sectors.
Six startups have already secured backing. Super Health is reimagining healthcare delivery systems, while AR Matrix develops robotics for last-metre industrial automation. Pier sight provides real-time ocean intelligence via satellites, and Knot operates an AI-native fashion discovery platform. Two additional companies remain in stealth mode, working on AI infrastructure and consumer applications.
“We’re at an inflection point where AI is moving from experiments to infrastructure,” said Malpani. “The next decade will be defined by teams who can turn raw capability into enduring systems.”
India’s Global AI Positioning
The country offers distinct advantages for AI development. Talent density combines with established digital infrastructure to position Indian startups for global competition from launch.
“India has a once-in-a-generation advantage,” Malpani explained. “The talent density, the digital rails, and the ambition to build companies that can lead globally.”
Cultural understanding matters as much as technical skills, according to Malpani.
“Science builds the edge, story makes it stick,” she noted. “Founders who can marry technical depth with cultural fluency will set the terms of the next wave.”
Market Timing Supports Launch
Boundless Ventures enters the market as Indian AI startups raised $524 million during the first seven months of 2024. This represents the strongest fundraising period in five years for generative AI startups.
Government support strengthens the environment. The upcoming India AI mission includes plans for extensive AI infrastructure, with over 10,000 GPUs designated for startup access.
Founder-Focused Investment Approach
The fund operates on conviction-first principles. Support begins from “day zero” and includes access to global networks plus storytelling guidance.
“I built Boundless as the fund I needed as a founder,” Malpani said. “Sharp, fast, and rooted in trust.”
Capital comes paired with narrative development support. Companies receive help articulating their vision and establishing new categories before competitors arrive.
“Every investment is a bet on a founder’s ability to bend reality, not follow consensus,” Malpani added.
Market Dynamics and Opportunities
India’s AI landscape differs significantly from the US and China. The country hosts relatively few pure-play AI startups, creating openings for early-stage investors.
Boundless Ventures spreads investments across multiple AI applications. This diversification reduces risk while capturing growth opportunities in various sectors. Multinational companies can explore partnerships through India’s combination of skilled talent and cost advantages.
Industry Impact and Future Outlook
Companies are accelerating AI adoption beyond pilot programs. The shift from experimental testing to production systems creates demand for scalable solutions.
Boundless Ventures’ portfolio investments signal market confidence in AI infrastructure development. The fund’s emphasis on storytelling addresses a gap where technical excellence alone doesn’t guarantee commercial success.
International businesses should watch the fund’s portfolio companies. These startups represent potential acquisition targets or strategic partners as they scale globally.
