Archana Jahagirdar joins ET Edge Insights as the guest of honour in a session titled “Why India Needs an Ecosystem to Realise its Dream of Becoming a Leader in Deep Tech and AI”. As the CEO of Rukam Capital, Jahagirdar spearheads the venture capital firm that invests in early-stage consumer products and services companies with extensive growth potential. When Rukam Capital started investing, the two pillars that guided their journey were tech and the consumer sector. The capricious nature of technology led them to build a separate fund called Rukam Sitara that solely focuses on tech and does their AI and deep tech investments. “There is a deep craze being built around AI and it is imperative for India to be at the forefront, and to achieve this, the right startups need capital,” said Jahagirdar.
Research forms the crux of the operations at Rukam Capital. The organization researches every startup in particular domains and spaces before investing. New Delhi Slush’D is an event they organised as a local spin-off of Slush’D held in Helsinki every year. This event has over 50 Generative AI founders discussing what’s next in the space. “The more conversations happen between stakeholders, government policymakers, academicians, and VCs, we can create a very robust ecosystem in India,” says Jahagirdar.
Broadening the capital base in India is the way to nurture the existing resources present in the country. The Government of India is working hard to create more pools of capital, she believes. That is also why Rukam Capital only invests in Indian founders building for the Indian ecosystem. “That way, all the wealth creation, IP stays within India which is a critical need for our country,” she adds. As VCs, their larger role lies in finding the right founders and nurturing and empowering them to create the right ecosystem. Organisations like Rukam Capital are equipped to provide everything from advice to network to capital. Collaboration and partnerships are the way forward and that is the only way to build something large and beneficial, not just for the company but also for the greater good of society. This is also what sets her organisation apart, she concludes.
