B2B and DeepTech-focused venture capital firm growX ventures has launched its Fund II with a target corpus of ₹400 crore. The firm aims to back 20–24 startups over the next two to three years.

With a stage-diversified approach, growX plans to invest in both early-stage and early-growth-stage companies. The fund intends to invest up to ₹10 crore in Seed rounds, either as a lead or co-lead investor and deploy ₹20–30 crore in Series B rounds.

Following the launch of Fund II, the VC firm is planning to double down its focus on DeepTech and B2B sectors, according to Ashish Taneja, Founder and CEO at growX ventures. “We are confident that the next wave of unicorns, building for global markets, will emerge from this space.”

Apart from B2B, and DeepTech, growX will also be investing in companies across semiconductors, DefenceTech, SpaceTech, alternative materials, advanced manufacturing, FinTech, HealthTech, and supply chain.

The first close of the second fund is expected by the end of this year.

Beyond financial investments, growX will provide hands-on support to founders, offering guidance on accelerating revenue growth, achieving scalability, and driving sustainable business models, according to the company.

Founded in 2008, growX has made 46 investments across emerging technologies, including Big Data, AI, drones, SpaceTech, robotics, EVs, genomics, semiconductors, and cybersecurity. Notable portfolio companies include Pixxel, Locus, Progcap, Aereo, Bellatrix Aerospace, Wiom, CynLr, Stashfin, and RACE Energy.