Gangtok, March 28 -- pi Ventures, which invests in disruptive Artificial Intelligence and DeepTech startups, has raised INR 22 Crores from Colruyt Group India, the Group's extended IT arm based out of Hyderabad.

The investment comes after pi Ventures announced the first closing of its second fund at INR 303.5Cr (USD 40 Mn) in Jan 2022, raising funds from entrepreneurs, HNIs and Family Offices from across the globe. With the Colruyt's investment, the fund is on track to do its final close in the second quarter of CY 2023 in the range of 675Cr to 750Cr. The fund is backed by BII, Nippon India Digital Innovation AIF (NIDIA), Accel, and entrepreneurs & family offices such as Binny Bansal, Varun Alagh, Samit Shetty, Rajesh Ranavat,, Anupam Mi...