Caret Capital Crosses ₹160 Crore in Just Six Months, Backed by Bajaj Auto, TCI, and Leading US Foundation

In an endorsement of its sustainability-focused vision, Caret Capital has successfully raised over ₹160 crore within just six months of its launch. With marquee backers like Bajaj Auto and Transport Corporation of India (TCI), as well as a leading US-based private foundation, the early-stage venture capital fund is rapidly approaching its ₹400 crore target.

Founded by Pankaj Bansal, Karan Mittal, and Prajakt Raut, Caret Capital is charting a bold course to transform India’s economic landscape. The fund invests in early-stage, category-building startups that align with three critical sectors: Smart Mobility, Distribution & Supply Chain, and Jobs. These industries are projected to add over $1.2 trillion to India’s GDP by 2030, making Caret Capital’s thematic focus both timely and transformative.

“Our mission is to back entrepreneurs who are building the next generation of sustainable solutions that will shape India’s future,” said Prajakt Raut, Co-founder and Partner. “The strong interest from investors is a testament to the potential of our thematic approach.”

A Pipeline of Game-Changers

Caret Capital is preparing to announce four new investments, which spotlight its commitment to impactful innovation:

• A subscription-based electric 2-wheeler platform tailored for gig workers,

• A battery lifecycle management company,

• A livestock feed distribution startup serving rural India,

• An AI-powered SaaS tool that helps track and reduce carbon emissions across supply chains.

Accelerating Innovation: Caret360 and GPS Summit

To support early-stage ventures beyond capital, Caret Capital operates Caret360, a 100-day accelerator program that focuses on market access, operational support, and scalable impact.

In addition, its annual Caret GPS (Growth Productivity Summit) convenes ecosystem leaders, founders, and innovators to uncover breakthrough ideas that boost sector-wide productivity. The next summit is slated for later this year.

Climate and Sustainability Council by IVCA to Push for a Green Investment Revolution in India

Backing Impact at Scale

Caret Capital’s portfolio already includes 27 startups, including Celcius, Unstop, Traqcheck, EVeez, Awign, and Enmovil—all driving structural change in their domains. With each investment, the fund moves closer to its bold mission of creating 10 million jobs and eliminating 10 million metric tons of carbon emissions.

Why It Matters

In an era where venture capital is increasingly aligned with impact, Caret Capital’s swift ₹160 crore raise is more than a financial milestone—it signals growing confidence in sustainability, purpose-driven innovation. As India races toward its climate and economic development goals, Caret Capital is emerging as a pivotal player bridging capital, capability, and climate action.