Gruhas

What Gruhas does

Gruhas is a thesis-driven Indian venture capital firm headquartered in Bengaluru, founded in 2021 by Nikhil Kamath (co-founder of Zerodha) and Abhijeet Pai. The firm invests from Seed to Growth stage across five declared themes: Climate Tech & Sustainability, Built World Tech (proptech, infrastructure, urban development), Artificial Intelligence, Media & Consumption, and DeepTech. It manages a portfolio of 50+ companies spanning these verticals and reports 3,000+ jobs created across portfolio companies.

The firm's offering stack comprises three distinct fund vehicles — the Gruhas Proptech Opportunities Fund (a SEBI-registered Category 2 AIF, registration IN/AIF2/23-24/1407), the Gruhas Collective Consumer Fund (GCCF, a Rs 100 crore maiden consumer fund co-launched with Collective Artists Network), and the Earth Fund (a proptech and climate-focused venture platform anchored with Brigade Group and HDFC Capital as LP) — plus two accelerator programs: Gruhas ASPIRE (Built World Tech, with Anthill Ventures) and Gruhas Gusto (food and beverage, with Jubilant Bhartia). Notable portfolio positions include PMI Electro Mobility Solutions (INR 250 crore co-investment, 2,000+ e-buses), EMO Energy (powers 10,235+ EVs), Strata (Rs 1,800 crore AUM), Ossus Biorenewables (green hydrogen), 1Buy.AI, Fanon, Dreamtime Learning, and VRO Hospitality.

Gruhas generates revenue through traditional VC fund economics — management fees on committed or deployed capital across its AIF and bespoke fund vehicles, plus future carried interest upon successful exits. The firm employs a sales-led, relationship-driven GTM motion, sourcing deals through founder networks (notably the Zerodha/Rainmatter ecosystem), co-investor syndicates (Kalaari, Rainmatter, 100Unicorns, FJ Labs, HDFC, Brigade), accelerator intakes, and a website pitch portal. It is not listed and remains founder-owned with a small core team of approximately five investment professionals.

Name

Gruhas

Legal name

Gruhas Proptech LLP

Website

https://gruhas.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

1–10 employees

Short description

Gruhas is a Bengaluru-based, thesis-driven venture capital firm founded in 2021 by Nikhil Kamath and Abhijeet Pai. It backs 50+ early-to-growth stage Indian startups across climate tech, built world tech, AI, media/consumer, and deep tech via multiple fund vehicles and accelerators.

Ownership category

akta.pro rank

Product category

Venture Capital

NAICS

Portfolio Management and Investment Advice (523940), Other Financial Investment Activities (5239)

SIC

Investment Advice (6282)

akta.pro primary industry

Multi-Sector / Generalist Growth Equity (FSANACAO)

Keywords

• Venture capital
• Early-stage investing
• Startup funding
• Proptech investments
• Climate tech investing

Headquarters

HQ city

Bangalore

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Fund Management (Management Fees + Carried Interest): Gruhas generates revenue through traditional VC fund economics: management fees charged on committed or invested capital across its managed funds (Gruhas Collective Consumer Fund at Rs 100 crore, Gruhas Proptech Opportunities Fund), plus carried interest (carry) realized upon successful portfolio exits. Revenue is not derived from product or service sales.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Gruhas is a thesis-driven venture capital firm founded in 2021 that invests capital in early-stage to growth-stage Indian startups across five core themes: Climate Tech & Sustainability, Built World Tech, Artificial Intelligence, Media & Consumption, and DeepTech. The firm manages multiple investment vehicles including the Gruhas Proptech Opportunities Fund (SEBI-registered Category 2 AIF), the Gruhas Collective Consumer Fund, and the Earth Fund, and operates accelerator programs Gruhas ASPIRE and Gruhas Gusto to support portfolio companies with mentorship and resources.

Product overview

Gruhas is a venture capital and investment platform co-founded by Nikhil Kamath and Abhijeet Pai in 2021, headquartered in Bengaluru, India. The company operates as a multi-strategy investment firm that backs exceptional founders across five core investment themes: Climate Tech & Sustainability, Built World Tech (Proptech), Artificial Intelligence, Media & Consumption, and DeepTech. Gruhas's offerings include three distinct investment vehicles—the Gruhas Proptech Opportunities Fund (SEBI-registered Category 2 AIF), the Gruhas Collective Consumer Fund (Rs 100 crore consumer-focused fund with Collective Artists Network), and the Earth Fund (proptech and climate-focused platform with Brigade Group)—along with two accelerator programs (Gruhas ASPIRE for Built World Tech startups and Gruhas Gusto for food companies). The firm has backed 50+ companies and aims to fuel innovations that positively impact human lives through technology-driven strategic partnerships.

Differentiator

Problem solved

Functional benefit

Brands

• Gruhas ASPIRE: A 6-month accelerator for early-stage Built World Tech startups, supported by Gruhas and Anthill Ventures offering mentorship, resources, and investment opportunities.
• Gruhas Gusto
• Gruhas Collective Consumer Fund (GCCF)
• Earth Fund

Products and services

• Gruhas Proptech Opportunities Fund A Category 2 AIF (Alternative Investment Fund) registered with SEBI focused on early-stage proptech and built world technology startups, providing capital and strategic support to ventures developing technology solutions for India's real estate and infrastructure sectors. For LPs and founders seeking structured proptech exposure in India.
• Gruhas Collective Consumer Fund (GCCF) A Rs 100 crore maiden consumer-focused fund co-launched with Collective Artists Network, targeting early-stage consumer startups across D2C subsegments including lifestyle, food & beverage, wellness, and personal care. The fund has made seven investments and plans an additional Rs 50 crore green-shoe option.
• Earth Fund A venture platform anchored by Brigade Group and Gruhas Proptech LLP, focused on backing early-stage startups developing built environment solutions for sustainability and climate-forward real estate technologies. HDFC Capital committed INR 20 crore as a limited partner.
• Gruhas ASPIRE Accelerator A 6-month accelerator program for early-stage Built World Tech startups, supported by Gruhas and Anthill Ventures, offering mentorship, resources, and investment opportunities to participating companies.
• Gruhas Gusto Accelerator A 6-month program backed by Gruhas, Jubilant Bhartia and Anthill Ventures, focused on accelerating food companies and driving industry innovation and exceptional dining experiences.

Quantifiable outcome

• 50+ portfolio companies backed
• +3 more outcomes

Named customers10 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered minor.

• Anthill VenturesminorStrategic or Co-development Partner · 1 January 2025Anthill Ventures partners with Gruhas to operate the Gruhas ASPIRE accelerator, a 6-month program for early-stage Built World Tech startups offering mentorship, resources, and investment opportunities.
• Jubilant BhartiaminorStrategic or Co-development Partner · 1 January 2024Jubilant Bhartia co-sponsors the Gruhas Gusto accelerator alongside Gruhas and Anthill Ventures, a 6-month food industry accelerator driving innovation and exceptional dining experiences.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Anthill Ventures: Early-stage Indian venture platform that runs accelerators alongside Gruhas (Gruhas ASPIRE, Gruhas Gusto). Directly comparable as an accelerator-driven thesis investor in built environment and consumer sectors.
• 100Unicorns: India-focused early-stage VC that has co-invested with Gruhas in 1Buy.AI. Targets seed-stage Indian startups with a multi-sector approach, making it directly comparable in stage and geography.
• FJ Labs: Global early-stage investment firm that co-invested with Gruhas in 1Buy.AI. Comparable as an early-stage market investor participating in syndicated rounds alongside Indian VCs.
• A91 Partners: Growth-stage Indian VC that co-invested with Gruhas in Rare Rabbit. Comparable as a consumer-and-tech focused India investor with similar D2C and consumer brand thesis overlap.
• Kalaari Capital: India-focused early-to-growth stage VC firm that co-invests with Gruhas across multiple portfolio companies (Fanon, EMO Energy). Directly comparable as a domestic multi-sector investor targeting seed to growth stage Indian startups.
• Blume Ventures: One of India's most active early-stage VCs, investing across sectors at seed and pre-Series A stages. Directly comparable stage, geography, and multi-sector thesis approach.
• Rainmatter Capital: Climate and early-stage investment arm of Zerodha, co-founded by Nikhil Kamath. Sister entity within the broader Kamath ecosystem that co-invests alongside Gruhas (Ossus Biorenewables, SolarSquare) and shares overlapping climate-tech thesis.

Broad incumbents

• Elevation Capital: Established India-focused growth VC investing from seed to growth across consumer and tech. Comparable as a multi-stage India investor with broader portfolio than Gruhas's current scope.
• Peak XV Partners: Largest India-focused VC (formerly Sequoia Capital India). Comparable as a broad-spectrum India investor across stages, though at materially larger AUM scale than Gruhas.

Emerging players

• Transition VC: Climate-focused early-stage Indian VC that co-invested with Gruhas in Matel. Comparable as a thesis-driven emerging manager in India's climate and clean-tech sectors with overlapping portfolio themes.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/GruhasVc
• LinkedInlinkedin.com/company/gruhas

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments58 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Gruhas