Canbank Venture Capital Fund

Canbank Venture Capital Fund, established in 1989 and based in Bangalore, India, serves as the corporate venture capital arm of Canara Bank. The firm specializes in investing in various sectors, including healthcare, pharmaceuticals, biotechnology, life sciences, industrial manufacturing, and technology, with a particular focus on nanotechnology and information technology. Canbank Venture adopts a General Fund philosophy and manages a diverse portfolio of investments, primarily funded by public sector banks, financial institutions, and insurance companies. Over its more than two decades of operation, the firm has successfully partnered with numerous promising companies, emphasizing those with established technological or market advantages and significant growth potential. The experienced team at Canbank Venture is dedicated to investing, managing, and enhancing value within its investee companies, contributing to long-term capital appreciation through a broad-based portfolio.

S. Thiruvadi

Managing Director

Rajee R

Assistant Vice President

35 past transactions

Qube Health

Seed Round in 2024
Qube Health is a health tech company specializing in employee healthcare management. The company offers primary care, health screenings, and non-insurance healthcare services to large corporations across various industries, including financial services, food services, facility management, and manufacturing. In addition to direct healthcare services, Qube Health provides a financial platform that facilitates interest-free healthcare financing for employees. This platform connects finance companies, insurance providers, and healthcare services, allowing employees to navigate their options and manage payments efficiently, resembling a credit card-like transaction experience at no cost. By integrating healthcare access and financial support, Qube Health aims to enhance the overall health and well-being of employees in the workplace.

CoRover

Series A in 2024
CoRover is a provider of a Conversational AI Chatbot Platform that leverages proprietary cognitive AI technology to enhance operational efficiency and customer experience for businesses. With a user base exceeding 200 million and over 4 million daily active users, CoRover has established a significant presence, particularly in India, where it boasts 2.5 times the traction of its nearest competitor. The platform is characterized by its versatility, supporting multiple formats such as video, voice, and text across various channels including web, apps, WhatsApp, IVR, SMS, and social media, while also accommodating 12 vernacular and over 100 foreign languages. CoRover's robust architecture can handle more than 500,000 concurrent users and is designed for deployment on both public and private clouds as well as on-premise solutions. Its proprietary ChatBot Markup Language technology enables rapid deployment, allowing businesses to train their bots in English and achieve industry-leading accuracy in multiple languages.

Koovers

Seed Round in 2022
Koovers is a car service platform that simplifies the procurement of car spare parts for independent workshops, catering to a wide range of vehicles from Maruti to Mercedes. Recognizing that many small garages lack dedicated resources for procurement and accounting, Koovers offers a user-friendly digital management system (DMS) that allows these workshops to easily submit their spare part requirements through various input methods. Once a request is made, the necessary spares are delivered to the workshop within a predetermined turnaround time, tailored to the specific needs of the parts and the workshop's location. In addition to parts procurement, Koovers also provides car owners with access to service centers, enabling them to obtain estimates, track maintenance progress, and manage service histories, thus facilitating comprehensive vehicle maintenance.

Renalyx Health Systems

Venture Round in 2022
Renalyx Health Systems is a health care company specializing in comprehensive renal care, and dialysis treatment.

Settlrs

Seed Round in 2022
Settlrs is a rental services company that specializes in providing businesses with furniture, home appliances, electronic devices, and IT infrastructure. The company aims to transform the way businesses acquire essential equipment by offering a comprehensive rental platform. This approach allows organizations to shift from traditional outright purchases to a pay-per-use model, facilitating immediate access to necessary assets while reducing capital expenditure. Settlrs supports various sectors by ensuring a secure rental lifecycle, thereby enhancing operational efficiency and flexibility for its clients.

CoRover

Venture Round in 2021
CoRover is a provider of a Conversational AI Chatbot Platform that leverages proprietary cognitive AI technology to enhance operational efficiency and customer experience for businesses. With a user base exceeding 200 million and over 4 million daily active users, CoRover has established a significant presence, particularly in India, where it boasts 2.5 times the traction of its nearest competitor. The platform is characterized by its versatility, supporting multiple formats such as video, voice, and text across various channels including web, apps, WhatsApp, IVR, SMS, and social media, while also accommodating 12 vernacular and over 100 foreign languages. CoRover's robust architecture can handle more than 500,000 concurrent users and is designed for deployment on both public and private clouds as well as on-premise solutions. Its proprietary ChatBot Markup Language technology enables rapid deployment, allowing businesses to train their bots in English and achieve industry-leading accuracy in multiple languages.

Merchem

Venture Round in 2019
Merchem Limited is a prominent manufacturer of rubber and specialty chemicals based in Cochin, India, established in 1981. The company specializes in producing a wide range of products, including accelerators, antioxidants, rubber processing aids, agrochemicals, and water treatment chemicals. Its offerings include various types of accelerators, such as thiazoles and sulphenamides, as well as processing aids like antitack agents and foam stabilizers. Merchem serves major automobile tire companies and non-tire rubber goods manufacturers across sectors such as health, transport, and consumer goods, with an extensive export network primarily targeting markets in South East Asia and Europe. The company has earned recognition as a Star Export House from the Government of India, reflecting its commitment to international trade, with over twenty percent of its turnover derived from exports. Merchem operates as a subsidiary of Acmechem Limited.

Prolific

Venture Round in 2019
Prolific is a leading provider of turnkey electrical, instrumentation, automation, and IT solutions, as well as advanced industrial technology and embedded systems training in India. Established by experienced technocrats, the company operates with a commitment to quality, adhering to ISO 9001 and ISO 14001 standards. Prolific boasts fully equipped facilities at 23 locations across the country. Its offerings include intelligent transformer testing and reporting systems, transformer test software, and annual maintenance contracts, tailored to meet the diverse needs of various industries. By specializing in customized embedded systems for transformer and motor testing, Prolific positions itself as a comprehensive solution provider in the industrial sector.

RK Group

Venture Round in 2019
The RK Group had its humble beginnings in 1970 in a hospital set up by its visionary founder, Prof.Dr. P. R. Sathyanarayana Setty (1916-2007) in Jayanagar, Bangalore. Today, the RK Group runs three multi-functional hospitals in Bangalore, provides healthcare services to institutions across South India, and imports and distributes healthcare products from around the world.

Scorpio Engineering

Venture Round in 2019
Scorpio Engineering Pvt. Ltd., established in 1983 and based in Bangalore, specializes in engineering and manufacturing bulk material handling systems and equipment. Initially focused on pneumatic conveying, the company has expanded its offerings to encompass a wide range of dry bulk handling solutions for various industries, including power plants, cement plants, stockyards, and ports. Scorpio Engineering provides comprehensive systems, such as pipe conveyors, long-distance belt conveyors, and stacking and reclaiming solutions, aimed at facilitating the handling of bulk materials from the mine pithead to the final product. The company aims to position itself as a single-source supplier for all bulk handling needs across diverse industrial sectors.

KLT Auto

Venture Round in 2019
KLT Automotive and Tubular Products Limited is a leading manufacturer based in India, specializing in automotive products designed for multi-utility vehicles, pick-ups, and light commercial vehicles. The company offers a range of products, including precision tubes, chassis frames, chassis components, and body components and assemblies. KLT is committed to quality, providing carmakers with reliable parts that enhance vehicle performance. Additionally, the company invests in research and development to advance technologies in welding assemblies and hydroforming components, further solidifying its position in the automotive sector.

Colour Roof

Venture Round in 2019
Colour Roof, a division of the Indian KLT Group, specializes in the manufacturing of premium roof and wall cladding sheets tailored for diverse roofing solutions. The company has established a strong reputation in the construction sector by introducing innovative products, including sheeting accessories, structural decking, tile roof sheets, and sandwich panels. Colour Roof's offerings cater to both commercial and residential applications, showcasing a commitment to high-quality steel forming and fabrication. By pioneering the concept of steel-concrete composite decks, Colour Roof has played a significant role in transforming industry standards in India.

Renewable Energy Systems

Venture Round in 2019
Renewable Energy Systems is an independent renewable energy company that specializes in providing comprehensive solutions for renewable investors, asset owners, and project developers. The company is engaged in the development, design, construction, financing, and operation of various renewable energy projects, including onshore and offshore wind, solar energy, energy storage, and transmission and distribution systems. By focusing on innovative renewable technologies such as wind, wave, tidal, solar photovoltaic, solar thermal, and biomass energy, Renewable Energy Systems aims to deliver affordable, zero-carbon energy solutions to commercial, industrial, and utility clients, as well as local communities.

Nichepro Technologies Pvt.Ltd.

Venture Round in 2019
Nichepro Technologies Pvt. Ltd. is a product and IT consulting services company based in Bengaluru, India, with additional offices in Fremont, California; Singapore; and Sunderland, United Kingdom. Founded in 2008, Nichepro provides a range of solutions, including Nichesuite, a suite of retail IT solutions designed to optimize the value chain for retailers through modular products that span from e-commerce to ERP systems. The company also offers SupportHealth, an Android application tailored to meet the needs of cancer patients, healthcare providers, and insurers. In addition to its product offerings, Nichepro provides IT consulting services that encompass quality assurance/testing, communication solutions, offshore global delivery, and IT infrastructure management. The company serves a diverse clientele, including major enterprises in India and internationally, establishing itself as a trusted technology partner in the industry.

Prathista Industries

Venture Round in 2019
Prathista Industries is a prominent manufacturer of natural, non-GMO nutraceutical products, specializing in fermentation technology. The company produces a wide range of items, including bulk drugs, organic plant nutrients, crop protection formulations, bio-fertilizers, and organic feed supplements for livestock. Additionally, Prathista offers chelated minerals and value-added formulations tailored to meet specific customer needs. Their products are approved by the Food Safety and Standards Authority of India (FSSAI) and hold various global certifications, including those from the US FDA, Kosher, and Halal. Through its focus on clean label ingredients, Prathista serves diverse sectors, including pharmaceuticals, agriculture, and nutraceuticals, ensuring high-quality, safe, and effective solutions for its clients.

KEY Difference Media

Venture Round in 2019
KEY Difference Media is a prominent marketing agency specializing in the blockchain and token sale industry. Established in 2013, the company has built a robust platform that provides a comprehensive suite of services, including content marketing, public relations, influencer marketing, and media strategies tailored to the unique needs of blockchain businesses. With a team of over 350 professionals and more than nine years of experience in the blockchain space, KEY Difference Media has successfully incubated and marketed numerous high-profile projects, contributing to the growth of the cryptocurrency ecosystem. The agency has played a pivotal role in raising significant capital during the ICO boom and continues to support emerging companies that show potential for substantial growth. By leveraging its deep industry knowledge and extensive network, KEY Difference Media positions itself as a key player in guiding blockchain ventures toward successful market entry and long-term sustainability.

Unitherm Engineers

Venture Round in 2019
Unitherm Engineers operates as a furnace services company specializing in commercial atmospheric heat treatment. The firm offers a range of services, including maintenance for fully automatic multi-chamber furnaces designed for specialized heat-treatment processes. Their advanced technology features include automatic charge transfer between chambers, a recipe manager, a patented charge machine, enhanced temperature control through thyristors, and automatic nitrogen flushing. Unitherm Engineers is committed to improving customer satisfaction by ensuring consistent quality, on-time delivery, and cost-effective innovative solutions. The company places a strong emphasis on creating a safe working environment and fostering talent through learning and growth opportunities. To support its growth, Unitherm Engineers invests in its workforce, infrastructure, and business diversification to adapt to the evolving needs of its customers.

Polygel Industries

Venture Round in 2019
Founded in 1997, Polygel transformed itself from a cable gel manufacturer to a leading specialty and construction chemicals company with manufacturing facilities in India and Brunei and a sales and distribution network spanning over 40 countries. Its customers include some of the leading chemical companies globally. Internationally, the Company is a diversified Performance and Specialty Chemicals business offering over 50 products, including a wide range of Organic Titanates, Zirconates, Phosphates, Phosphites and Calcium-Zinc Compounds (Organometallic Chemicals), for applications such as Catalysts for polymer industries, Printing Inks, Paints, and Coating industries, Polymer compounding, Lubricants, Glass coatings, Emission control, Oleochemicals & Oil fracking.

M - Tech India

Venture Round in 2019
M Tech Innovations Ltd, accredited as a leading and certified RuPay, Visa and Master Card manufacturer from India, offers high tech and end-to-end solutions. Our coherent products cater a wide range of industries like banking, telecom, automobile and electronics industry. The company certified by ISO/ TS 16949: 2009 offers automotive division manufacturing of automotive dials, IMD panels and membrane keypads. Our banking products, smart card solutions and the automotive products are preferred by various industries in India and abroad.

NSOFT

Venture Round in 2019
NSOFT (India) Services Private Limited, established in 1996 and based in Bengaluru, specializes in automation and smart metering solutions for distribution utilities. The company offers a range of products, including smart meter modules and enterprise resource planning (ERP) software specifically designed for utilities, which streamline the billing and receivables management process. With a focus on enhancing revenue and operational efficiency, NSOFT manages over 12 million consumers and handles annual billing exceeding Rs 10,000 crores across multiple utilities. Employing a team of over 600 professionals, NSOFT has developed substantial domain expertise over the past two decades, supported by robust internal processes that accommodate the needs of large-scale utilities.

Astra Microwave Products

Post in 2019
Astra Microwave Products Ltd specializes in the design and manufacture of radio frequency (RF) and microwave components and sub-systems. The company serves diverse sectors, including defense, space, telecommunications, meteorology, and civil communication systems. Operating from four state-of-the-art facilities, Astra Microwave Products is committed to delivering high-quality solutions, encompassing services from initial concept through to development, fabrication, and maintenance. As an ISO 9001 certified organization, it ensures adherence to quality standards in its manufacturing processes, engaging in a wide range of activities related to electronic items and components.

StartupXseed Ventures

Venture Round in 2017
StartupXseed Ventures, established in 2015 and based in Bangalore, is an investment management firm registered with the Securities and Exchange Board of India. It operates a unique program supporting aspiring entrepreneurs with innovative technology and technology-enabled ideas. The firm provides seed funding, strategic support, market access, mentorship, and close guidance from its investor/advisory board, acting as a co-founder or seed partner. StartupXseed focuses on small and mid-sized B2B companies in sectors like cybersecurity, semiconductors, IoT, robotics, and AI, helping them navigate India's business landscape.

Him Teknoforge

Venture Round in 2016
Him Teknoforge Ltd., established in 1981, is the flagship company of Him Group and has gained international recognition for its advanced technology and quality processes in the engineering sector. Based in India, the company specializes in manufacturing and supplying a diverse range of forgings and machined components, including gears, axles, shafts, and various assemblies and repair kits. As a Tier 1 supplier, Him Teknoforge serves leading original equipment manufacturers (OEMs), the railway sector, and the aftermarket, demonstrating its significant role in the tractor, automobile, and engineering industries. The company is accredited with IATF 16949, reflecting its commitment to maintaining high standards in quality and operational excellence.

Bioneeds

Venture Round in 2015
Bioneeds India Private Limited is an integrated contract research organization based in Bengaluru, India, specializing in preclinical development and regulatory solutions. Established in 2007, the company supports pharmaceutical, biotechnology, and agrochemical sectors by providing a wide range of services, including general toxicity assessments, immunotoxicology, ecotoxicity, physicochemical testing, drug characterization, and various in vitro and in vivo studies. Bioneeds is certified by OECD GLP and AAALAC, ensuring high-quality and cost-effective services for clients involved in pharmaceuticals, nutraceuticals, agrochemicals, biologics, and medical devices. The organization aims to facilitate successful experimentation and research execution for its clients while adhering to rigorous regulatory standards.

Sisa Security

Venture Round in 2015
SISA Group is a security company based in Surat, India, specializing in comprehensive security solutions and cash management services. The company addresses the diverse security needs of its clients through customized service offerings, which include cash handling, electronic security, event security, and e-commerce logistics. SISA Group operates in various sectors, providing security for industrial units, shopping complexes, hospitals, apartments, and other properties. With a strong emphasis on timely service delivery and a skilled workforce, SISA Group aims to minimize financial, human, and brand risks for its clients, establishing itself as a trusted name in the security industry.

Shera Group

Venture Round in 2015
Shera Group, specifically Shera Energy Private Limited, is a manufacturing company based in Jaipur, India, established in 2003. The company specializes in the production and export of non-ferrous metal products, including copper, aluminum, and brass flats, rods, tubes, and wires. Their product range encompasses brass solids such as bus bars, round bars, and sections, which are utilized in various applications from ball pen tips to defense cartridges. Additionally, Shera Group manufactures bus bars and solids for sectors including electrical, power generation, telecommunications, and automotive industries. They also produce winding wire products, including copper and aluminum wires for transformers and welding machines, and offer various metal coverings such as electroplating and enameling. Through its diverse offerings, Shera Group serves a broad array of industrial needs while maintaining a focus on quality and innovation.

ESDS Software Solution Limited

Venture Round in 2015
ESDS Software Solution Limited, founded in 2005 and based in Nashik, India, specializes in data center services and cloud solutions for clients globally. The company offers a range of services including eNlight cloud hosting, hybrid and private cloud hosting, and cloud orchestration, alongside various business hosting solutions such as core banking, SAP, and MS Dynamics hosting. ESDS also provides email hosting services and web hosting for applications, blogs, and e-commerce. It operates eco-friendly technologies based on its patented eNlight cloud technology, which optimizes hardware usage and reduces energy consumption. With data centers in Mumbai, the United Kingdom, and the United States, ESDS has built a reputation for reliability, serving over 30,000 customers, including corporate entities and government organizations. The company is noted for its state-of-the-art green data center in Maharashtra, which operates with minimal environmental impact while providing robust hosting and cloud solutions.

Anand Teknow Aids

Venture Round in 2015
Anand Teknow is a manufacturer of steel products based in Pune, India, with a history dating back to 1982. The company transitioned into a limited unlisted entity in 2006 and has since focused on establishing long-term business relationships with its clients. Anand Teknow offers a diverse range of products, including ball valves, rolling mills, electro-forged gratings, and carbide-cutting tools. In 2008, the company announced an ambitious project in Indapur to enhance its manufacturing capabilities, producing various types of steel such as steel strips and rods, as well as engaging in hot deep galvanizing. The company is committed to delivering ISO-certified products to meet the needs of various industries.

Gayatrishakti Paper & Boards

Seed Round in 2014
Gayatrishakti Paper & Boards Limited is a Mumbai-based manufacturer of coated paper boards, serving both domestic and international markets. Established in 1996, the company produces a variety of products including coated packaging boards, white back boards, blister pack boards, and playing cards. These products are utilized in a range of applications such as packaging for toys, appliances, medicines, cosmetics, and garments. The boards are made from recycled waste paper, making them biodegradable and recyclable, which aligns with environmental sustainability practices. Gayatrishakti Paper & Boards distributes its products through a network of dealerships, ensuring accessibility to various industrial sectors.

GNRC Hospitals

Venture Round in 2013
GNRC Hospitals, established in 1987 by neurologist Dr. Nomal Chandra Borah, is the first super specialty healthcare center in North East India. The facility specializes in neurology, neurosurgery, and physical medicine and rehabilitation, and aims to provide comprehensive healthcare services to the region. Dr. Borah, who hails from a family of marginal farmers in Assam, has dedicated his career to improving health outcomes through his commitment to the principle of "Health for All, Smiles for All." GNRC Hospitals has positioned itself as a leader in specialized medical care, reflecting Dr. Borah's vision and determination to enhance healthcare accessibility in North East India.

Vinyas Innovative Technologies

Venture Round in 2013
Vinyas Innovative Technologies Pvt. Ltd. is a leading provider of electronics manufacturing services, established by a team of experienced technocrats. The company specializes in design, engineering, and manufacturing services tailored for global Original Equipment Manufacturers and Original Design Manufacturers in the electronics sector. Vinyas offers a comprehensive range of products and services across various industry segments, leveraging advanced technologies and state-of-the-art infrastructure. The firm supports its global partners throughout the process, from initial design conceptualization to engineering and full-scale manufacturing, addressing the needs of mission-critical applications. With a strong emphasis on engineering excellence and human values, Vinyas aims to deliver innovative solutions in the electronics manufacturing landscape.

Ravi Technoforge

Venture Round in 2012
Ravi Technoforge Pvt. Ltd. is an engineering company established in 1990, originally named Saurashtra Iron Forging Pvt. Ltd. until its rebranding in 2009. Located in Village Pipaliya, Gujarat, the company specializes in the manufacturing of high-precision forged and turned components, including bearing races and gear blanks. It serves a diverse array of industries, such as automotive, wind energy, railways, and heavy machinery. With over two decades of experience, Ravi Technoforge has built a strong reputation for quality and excellence, becoming a recognized name in the engineering sector. The company is ISO/TS 16949 certified and is acknowledged as a GREEN FLOW & ZERO DEFECT Supplier to SKF and FAG globally, emphasizing its commitment to high standards in production and customer satisfaction.

Omnitech InfoSolutions

Venture Round in 2003
Omnitech InfoSolutions (BSE Code: 532882) is a global IT solutions and services provider company in the areas of Business Availability, Business Continuity and Business Enhancement services. With over 25 years of fostering client relationships, company is agile to establish the best global credentials through world class quality certifications. Besides the conduct of ISO 9001:2008 for quality management, Omnitech also gained ISO 20000, ISO 27001 and BS 25999 standards.

Ma Foi

Venture Round in 2001
Ma Foi specializes in managed payroll services and social benefits administration for clients across India, utilizing a fully customized payroll engine. The company offers a range of business consulting services tailored for small and medium enterprises, including strategic advisory, HR outsourcing, staffing, training, and organization development. Its focus is on enhancing HR, payroll, and compliance processes while supporting business growth and transformation strategies. By providing industry-specific expertise and functional knowledge, Ma Foi aims to assist businesses in adopting effective strategies and improving overall operational efficiency.
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