Industrial47 is a Bengaluru-based pre-seed venture fund founded by Rahul Seth, backing early Indian founders building in space, defense, energy, and other deep-tech categories central to the country's industrial buildout. Seth founded the firm in 2024 after serving as a Director at Antler VC's India office and as an officer in the Indian Army Reserves.
Industrial47 invests at the pre-seed stage in Indian founders building in space systems, defense, energy, maritime intelligence, and advanced manufacturing, with an emphasis on national security and strategic infrastructure.
The firm's thesis centers on being first institutional capital into frontier, hardware-intensive technology before it is recognized as a distinct venture category.
The fund backs roughly 15-20 companies per portfolio.
Industrial47 announced the first close of its debut fund at approximately $9.7 million on August 28, 2026. The fund is targeting a total of $23 million.
The first close was backed by family offices and industrial groups including Bhukhanvala Holdings and Chemet India, along with individual investors Vivek Mathur, former Managing Director at Elevation Capital, and Boris Wertz of Version One Ventures, as well as founders of Swiggy and Urban Company.
Leadership
Investment Strategy
Industrial47 writes cheques of $500,000 to $1.5 million per company at pre-seed, positioning itself as the first institutional investor into frontier-technology categories before they are widely recognized.
The firm holds reserve capital to follow its winners into later rounds.
Notable Investments
India
