Elevation Capital

We went back to the exact restaurant in Bengaluru where @mukularora (Co-Managing Partner, @ElevCap) and @viditaatrey (Co-Founder, @Meesho_Official) first met in June 2017, and where the Meesho-Elevation partnership truly began. Eight years. Countless board meetings, tough decisions, and impossible goals achieved. But never back to this exact spot. Until today. As Vidit recalls, Meesho then had two months of runway left. He'd been meeting investors for months with no success. That day, he had to make a choice: meet another investor who seemed more likely to convert, or meet Mukul who'd been in conversations for over a year. He chose Mukul. He cancelled the other meeting. "I don’t remember any other fund that went so deep in speaking to our resellers, speaking to our users, really building conviction in our business. So if I could get one person, I really wanted to be you,” reflected Vidit. The rest, as they say, is history. Congratulations Vidit, Sanjeev, and the entire Meesho team on the historic IPO. Here's to the journey, the friendship, and everything that comes next. Watch the full conversation here: tinyurl.com/ElevMeeshoStory

🚨 💰 Elevation Capital has raised a $500 million fund to back early-stage startups, betting that the next generation of AI-led companies will emerge from India even as global capital has disproportionately gravitated towards the US foundational models. 🧵

#MCInterview | 🚨We are all in on India: Elevation Capital (@ElevCap) on new $500 million fund, AI deals, global software playbook and more In this exclusive conversation, Mukul Arora (@mukularora) and Mridul Arora explain why they're doubling down on India, why AI is reshaping every sector, and where they see the next generation of billion-dollar startups emerging. 🔴 Tune in LIVE at 11 AM with @chandrarsrikant and @Goenka_Tushar1 for the exclusive interview 🎙️ #ElevationCapital #ArtificialIntelligence #Funding

🚨Elevation Capital closes $500 million Fund IX, doubles down on AI and India with bigger early-stage bets Elevation Capital has raised a $500 million ninth India-focused fund (fund IX), sharpening its focus on early-stage startups at a time when venture capital investors are becoming increasingly selective, while betting that artificial intelligence (AI) will create the next wave of large technology companies from India. The new vehicle, Elevation Capital Fund IX, comes over four years after the firm's previous $670 million fund (fund VIII). While the latest corpus is smaller from the earlier fund, the venture capital firm says it should be viewed alongside Elevation Holdings, its recently launched $400 million late-stage vehicle, giving it a combined firepower of $900 million across the startup lifecycle. With @Goenka_Tushar1 moneycontrol.com/news/business/…

Bharat Bhagya Vidhata. The shaper of India's destiny. Our national anthem has carried these words for over a century. And in every era, India's builders have answered that call, and willed a stronger India into being. Today we stand at the biggest platform shift of our lifetimes. The scoreboard is being reset, and every advantage is up for grabs. The opportunity in front of us has never been bigger; neither has the challenge. We have zero doubt this generation of founders will step up. They always have. And this time, we will not just ride the shift; we will capitalize on it and propel India into a different orbit. With that belief, we are excited to announce Elevation Fund IX - $500 million for audacious founders building an unstoppable India. Sharply focused on Seed and Series A. We will continue to partner early, partner deeply, and partner for the long run. All in on India, as we have been for the last 25 years. Jai Hind 🇮🇳 elevationcapital.com/perspectives/f… @ElevCap

Huge congratulations to @PortkeyAI on raising their $15M Series A funding! As AI rapidly becomes the core infrastructure for modern enterprises, it brings two massive operational challenges: ensuring reliability at scale and controlling unpredictable, skyrocketing costs. Led by @jumbld Rohit Agarwal & Ayush Garg, Portkey is transforming how enterprises manage production AI and agent operations with its unified control plane. Portkey’s platform layers a high-performance AI production stack with built-in governance, observability, reliability, and cost management. Sitting directly in the path of AI traffic, where tokens become dollars; it ensures engineering teams maintain operational control while giving finance teams real-time visibility into every cent spent. The scale they've achieved already is phenomenal. Portkey is trusted by AI-forward enterprises like Postman and Snorkel AI, processing over 500 billion LLM tokens across 125 million requests every single day. Today, they are managing over $500,000 in daily AI spend for more than 24,000 organizations globally. We are thrilled to lead this round, with participation from Lightspeed. Wishing Rohit, Ayush and the entire Portkey team continued success and many more milestones to come! @kpowerinfinity @PoorviVijay

Voice is the most natural interface we use all day, yet building truly real-time, human-like voice AI is insanely hard. @cartesia's story is an interesting one as they rethink Voice AI. From state space models that can handle streaming context to obsessing over tail latency at millions of calls a day, they’re rebuilding the voice stack for real-time, large-scale applications. With multilingual users, constant code-switching, and enterprise-scale scrutiny on every single call, India stress-tests speech models like no other market. In this episode, @PoorviVijay (Principal, @ElevCap) sits down with @krandiash (Founder & CEO, @cartesia) to unpack how they aim to build one of the fastest, most realistic voice models in the world, and why they’re betting deeply on India. The conversation explores: > Why transformers alone won’t get us to “infinite context” and how state space models change the game > Latency vs tail latency: why a few slow calls can break entire voice experiences > How Cartesia thinks about streaming context, prosody, and matching user emotion in real time > What makes India the ultimate stress test for speech models > Building a research-heavy model company that still thinks product-first Catch the full episode here: tinyurl.com/ElevationCarte…

🪙 We are back with another edition of the Fintech (Out Of) Office Hours! Since launching (Out Of) Office Hours, we've had the privilege of connecting with hundreds of operators across consumer tech and fintech. These candid conversations have helped shape possibilities and led to several meaningful partnerships along the way. This year, we're diving deep into the frontier of AI x Fintech, exploring how AI is reshaping everything in the financial services ecosystem. Are you an experienced fintech operator considering the leap to entrepreneurship in this new landscape? Or a first-time founder navigating the unique challenges of building an AI-native solution? Whether you're refining your idea, validating your market, or searching for your AI-powered edge, we're here to help. Join our Fintech practice for one-on-one conversations around everything related to entrepreneurship and fintech. Our team will answer your toughest questions and share insights on the AI x Fintech trends we are most excited about. Slots are limited; secure yours now by registering here: tinyurl.com/FintechOOOJan2… Mridul Arora | @vaasbhaskar | @AshrayIyengar | Siddhant Agarwal

Introducing 𝗖𝗼𝗿𝗿𝗶𝗱𝗼𝗿 𝗖𝗼𝗻𝘃𝗲𝗿𝘀𝗮𝘁𝗶𝗼𝗻𝘀. 🇮🇳 🇺🇸 Building for the US from India is often framed as a GTM challenge. But some of the most consequential decisions aren't in your sales deck. They're in your legal structure, domicile, and mobility strategy. For many founders, these are one-way door decisions. Get your domicile, visa strategy, or governance wrong early, and you don't just lose time; you risk your ability to fundraise, scale, or exit at your true value. With AI compressing company-building timelines, the cost of slow or misinformed decisions has never been higher. Reliable guidance in this space is hard to find, and advice is often fragmented, outdated, or generic. 𝗖𝗼𝗿𝗿𝗶𝗱𝗼𝗿 𝗖𝗼𝗻𝘃𝗲𝗿𝘀𝗮𝘁𝗶𝗼𝗻𝘀 is a closed-door series designed to change that, offering actionable frameworks for building a global winner from India. We're kicking off with a tactical session on navigating the 2026 US visa landscape, led by Rahul Gudise (Co-Founder, Gale) and Dhruv Jain (AVP, @ElevCap). Rahul will provide the legal roadmap, with the lead attorney he coordinates with on standby to answer your technical questions in real time. The playbook for US expansion has changed. Between the new wage-level weighting for the H-1B lottery and the rising "extraordinary ability" bar for O-1s, founders need more than a filing. They need a structural strategy. In this interactive session, we strip away the legalese to talk about what it actually takes to get to, and stay in, the US today. 📅 Feb 4th | 8:30 PM IST Register here: tinyurl.com/CorridorConver… @kpowerinfinity | @PoorviVijay | Prerna Gupta

Announcing (Out Of) Office Hours: Building for the Modern Consumer! Technology cycles shift, but fundamental human needs remain constant. We are looking for founders who are deeply obsessed with solving core consumer problems, regardless of the tech stack. Whether you are refining your MVP, navigating early GTM challenges, or defining your moat in a crowded landscape, we are opening our calendar to help you navigate the journey. We’re excited to see how your product idea fits into the evolving consumer ecosystem, particularly for those building new paradigms in Social, Content, Edtech, Travel, Gaming and Marketplaces. Let's discuss how your product fits into the evolving consumer ecosystem and where the biggest opportunities lie. Limited availability. Reserve your spot here: tinyurl.com/OOOHModernCons… @manishadvani12 | @vaibhav9339 | Harshit Jain | Taransh Sindhwani

Congratulations to @Ankit_AGarg, @InfiniChai, and the entire @WakefitCo team on going public! Wakefit's journey has been one of relentless metamorphosis, to not just become the largest brand in mattresses in the country, but also India's largest and most loved D2C home and furnishings company. We're proud to be partners as Wakefit takes this momentous step. At @ElevCap, we're celebrating Wakefit's journey: tinyurl.com/WakefitIPOTake… @mukularora | @chiragchadha9 | @vaibhav9339 | Shweta Adhikari

"@viditaatrey and @barnwalSanjeev have done the improbable and impossible time and time again…" At @Meesho_Official's listing ceremony yesterday, @mukularora (Co-Managing Partner, @ElevCap) reflected on Meesho's extraordinary decade that redefined how e-commerce should be built for India He spoke about Vidit Aatrey's ability to think really, really long term. That long-term thinking enabled decisions that seemed counterintuitive at the time - evolving from reseller-focused to consumer-focused, making the platform zero commission. Mukul highlighted Sanjeev Barnwal as the quiet backbone, building one of India's strongest engineering teams, and making everything work like clockwork at a scale that would be among the largest globally. But as he concluded, the real story is what comes next. India's e-commerce market is still unfolding. With founders growing stronger with every challenge and a team that's proven stellar execution again and again, there's no doubt Meesho will be one of the defining Indian companies of the next decade. Congratulations to the entire Meesho family!

We're thrilled to participate in @skydo_official's $10M Series A round, deepening our partnership that began at their Seed round in 2022 and continued through their pre-Series A in 2024. @srivats80 and @movinj saw firsthand how Indian MSMEs and freelancers were losing 3-7% of their hard-earned revenue to hidden forex markups and opaque fees and set out to fix it with transparent pricing, zero forex fees, and 24-hour settlements. Their vision to build the financial operating system for Indian exporters resonated deeply with us from the start. Since our initial investment, Skydo has scaled remarkably, growing 4X in the last year alone, now serving 30,000+ exporters across 50+ cities and processing payments in 32+ currencies. They were among the first to receive RBI's In-Principle authorization as a Payment Aggregator - Cross Border (PA-CB). Looking ahead, Skydo aims to reach $5B in annualized payment volume within 2 years while expanding local collections across 20+ countries in Latin America, Africa, Southeast Asia, and the Middle East. As India aims to export $2 trillion in services and goods by FY30, Skydo is uniquely positioned to be the payments backbone powering this ambition. We are honored to continue this journey alongside Srivatsan, Movin, and the entire Skydo team. Welcome Susquehanna Asia Venture Capital to this partnership. Watch our Day One podcast with Srivatsan here: lnkd.in/gMdVEKTu Onwards and upwards! Mridul Arora | @AshrayIyengar

Mukul has played many roles for Meesho and me over the years. Our first institutional investor, my first mentor, solid pillar in the good and the bad times. But the one I cherish the most is our friendship. @mukularora, thanks for everything!

Today @Meesho_Official became a public company. Congratulations to Vidit @viditaatrey, Sanjeev @barnwalSanjeev and the entire Meesho team on building one of the most mission-driven companies India has produced in the last decade. We at Elevation Capital @ElevCap feel privileged to have been partners since 2017. Back then, it took us 1.5 years and multiple meetings before we finally partnered, and watching what's unfolded since then has been nothing short of remarkable. Last week, Vidit and I went back to Cafe Noir @ UB City where, in June 2017, we had decided to partner. Same place, same table. We hadn’t returned together in eight years. And sitting there, it felt like time folded in on itself. That day in 2017, Vidit cancelled another investor meeting to meet me. I’ve always remembered that as a small but decisive moment. What I learned only last week was that he thought the other fund was more likely to convert. And still, he chose to meet me. I can’t thank him enough for that decision - because it led to one of the most defining partnerships of my career and one of the most fulfilling relationships of my life! Sitting there, we ended up reminiscing about the whole arc: the early days with very little runway; the brutal months in 2016-17 that forged the culture; the courage to pivot from reseller-first to consumer-first; and the conviction to go zero commission when many people thought it was impossible. From those early conversations to today: 200 million+ customers, 500k+ sellers, and 100k+ livelihoods created through Valmo. Meesho has truly democratized e-commerce in India. And beyond the numbers, what has stood out for me the most is the character of the journey: deep customer obsession, the courage to make non-consensus decisions, and stellar execution to back them - again and again. Watching Vidit and Sanjeev has been a masterclass. Vidit's rare combination of super long term thinking and operational depth, seeing clearly where the world is heading, and having the conviction to act; Sanjeev’s quiet excellence and the stellar engineering team and culture he’s built - one that so many teams in India now look up to. And through it all, both staying humble and grounded. As they remind us, this is just chapter one. The e-commerce market in India is still in its early days and the mission is just getting started! I couldn't be more excited about what comes next. Congratulations once again to the exceptional team that has delivered on super auditious goals time and time again - Dhiresh, Roopa, Debdoot, Milan, Prasanna, Megha, Siddharth, Ashish, Sourabh, Steffie, Harshit, Prateek, Kirti, Jatin, UK. And thank you for the partnership. It has been a privilege! Penned down my reflections on the journey here: tinyurl.com/ElevationMeesh…

Congratulations to @viditaatrey, @barnwalSanjeev, and the entire @Meesho_Official team on making history! Today marks a defining moment. India's first major horizontal e-commerce platform goes public. When we partnered in 2017, we saw two young founders with conviction and a clear mission: to democratize internet commerce for every Indian. What we didn't fully grasp was the magnitude of transformation that would follow. Today, Meesho serves 210+ million consumers, empowers 575,000+ sellers to build businesses, and has helped create livelihoods for over 100,000 delivery agents through Valmo. Since we partnered eight years ago, Meesho has remained true to its mission while staying the same driven, humble, and customer-obsessed team. We're privileged to continue as your partners as you build an enduring generational company that takes the momentous step today of becoming a listed company! We couldn't be more excited about what comes next. This is still chapter one. Congratulations once again to the entire Meesho family! You’ve built something truly extraordinary! At Elevation Capital, we're celebrating Meesho's journey: tinyurl.com/MeeshoIPOTakeo… @mukularora | @minu_mm | Vaibhav Goel | Ramanuj Gopalan | Kallan H | Ankur Jain

🤖 New SummitUp episode! Most of India hasn't touched AI yet. And that's exactly where the opportunity lies. While ChatGPT has reached just 5% of India's digital consumer base, early adopters are showing retention metrics that parallel social platforms - signaling massive untapped potential for vertical AI applications built for India. The opportunity? A billion+ consumers who will leapfrog directly into vertical AI use cases - from personalized education to AI companions addressing real loneliness, from immersive co-created content to mental health support. @manishadvani12 (Principal, Elevation Capital) joins Viswanathan V. (Head of Marketing, Elevation Capital) to unpack the wave of consumer AI innovation taking shape across India. Drawing from our investments like @thespeakx and Rumik, and what we're seeing on the ground, they explore where the real innovation will happen and map out where value will be created. The discussion explores: > How India will democratize access to expertise through AI > Personalized learning: putting a teacher and trainer in every pocket > The evolution of content - from consumption to co-creation > Companion apps addressing real social isolation and mental health needs > How AI concierge can reimagine traditional commerce models > Practical advice for early teams Catch the full episode here: tinyurl.com/ConsumerAI2026…

We are super excited to partner with @SynthioLabs by leading their $5 million Seed round as @iamsupreetd, @sahitya0808 and @RajashekarV95 build the clinical-grade AI infrastructure transforming how life sciences companies engage with clinicians and patients. The life sciences industry faces a critical engagement challenge. Pharma companies spend over $30 billion annually on doctor and patient outreach, yet engagement remains largely manual, fragmented, and difficult to scale compliantly. Doctors face information overload while patients with chronic conditions often lack consistent support, leading to treatment drop-off rates as high as 50%. Synthio Labs is addressing these challenges head-on with a conversational AI platform built specifically for the regulatory complexities and compliance demands of life sciences, led by Supreet, Sahitya and Rajashekar’s exceptional combination of domain expertise and technical prowess. Synthio's AI Operating System unifies three powerful platforms: Jarvis, the voice AI copilot for field teams; Ather, the multimodal engine powering seamless physician and patient engagement across channels; and Simulation Studio, generating high-fidelity digital twins for research and strategy. Together, these HIPAA-compliant, SOC2-ready solutions are already delivering remarkable results at scale for leading pharma companies and D2C healthcare brands. We believe Synthio Labs is defining the next major customer engagement infrastructure for life sciences, delivering consistent, human-grade experiences to every clinician and patient while maintaining the highest standards of clinical compliance. Welcome to the Elevation family, Synthio Labs! Onwards and upwards! @kpowerinfinity | @KhandujaM | Vishap Rana

We're delighted to participate in @just_snabbit's $30M Series C round, marking our continued support for their remarkable journey that began when we led their Series A just 9 months ago. What started as an idea in 2024 has transformed into India's largest quick-service platform and fastest-growing consumer category. Aayush Agarwal and the team have built something truly extraordinary - scaling from under 1,000 to over 10,000 jobs daily in less than 5 months, while creating dignified livelihoods for a 100% women-led fleet of 5,000 Experts. The numbers speak volumes: Snabbit clocked 3 lakh+ jobs in October alone, now operates across 5 major cities - a testament to both the massive market opportunity and exceptional execution. Looking ahead, Snabbit's vision extends beyond home services. The team is set to disrupt other high-frequency categories like cooks, child care, and elderly care, building India's operating system for all quick services while maintaining their commitment to balancing growth with profitability. We're proud to continue backing Aayush and the team as they digitize India's last major offline habit. Onwards and upwards! @mukularora | @manishadvani12