India, May 21 -- Bengaluru-based VC firm Shastra VC has launched its third fund with a corpus of $100 Mn (about Rs.963 Cr) to back early-stage startups in deeptech, AI and climate sciences sectors.

In a statement, the firm said it will invest between $500K to $3 Mn in intellectual property-led startups from the fund. The fund will focus on space and defence technologies, AI, and renewable sciences, while supporting startups from seed stage to Series A and beyond.

Founded in 2022 by former operators Vasant Rao, Avijeet Alagathi and Ashis Nayak, Shastra VC has backed startups across space systems, advanced manufacturing, semiconductors, AI and biotech.

It claims to have deployed approximately $55 Mn across its first two funds. The firm h...