Equirus InnovateX Fund, the venture capital arm of Equirus Group, has made its first AI investment by leading a ₹12 crore seed round in Consuma AI, with a ₹7 crore investment. This reinforces its belief in the disruptive power of AI to bring large consumer-led brands intelligent, data-driven insights to drive enterprise decision-making at scale.
The round also saw participation from a stellar group of angel investors, including Abhishek Goyal (Tracxn), Mekin Maheshwari (Flipkart), Bhavik Dholakia (Swatantra Wealth), Harsh Shah (Fynd), Arnav Kumar (Leap Finance), Shiv Kapoor (Titan Capital), and Biswa Kalyan Rath (Comedian), among others.
Founded in 2021 by Abhilash Madabhushi, Consuma AI is reimagining the future of consumer research. By replacing outdated methods like surveys and focus groups with an AI-first approach, Consuma allows brands to tap into real-time digital behaviour to derive faster, deeper, and more cost-effective consumer insights. With its proprietary AI engine, Consuma enables insights and brand teams to perform deep consumer research in 30 minutes instead of 2–3 months, at 1/10th the cost, and across 1,000x more data points. Consuma already works with leading brands such as Britannia, Foxtale, and Godrej, and is redefining how businesses understand and act on consumer intelligence.
Commenting on the development, ‘’ Sadhika Agarwal, Principal at the Equirus InnovateX Fund, said, “In a world of quick commerce where consumer expectations evolve in real time, shelf life of insights is low. Brands can no longer rely on million-dollar research projects that run into months. Consuma AI’s exceptional team and platform brings that decision intelligence into the moment. This investment round will help them scale faster, deepen the tech, and enable delivery of insights from source to strategy, in minutes, not weeks.”
Equirus InnovateX Fund is Equirus Group’s inaugural venture capital vehicle, a US$20 million (₹170 crore) SEBI-registered Category-I AIF focused on early-stage investments from Seed to Pre-Series A. The fund backs founders building in SaaS and DeepTech. The Fund has invested in high-impact startups across sectors, including: Pointo (CleanTech Battery Company), Datazip (Composable Lakehouse platform) and GreenStitch (Fashion-Focused ESG Accounting SaaS). Backing Consuma AI marks the Fund’s fourth investment and a growing emphasis on investing in frontier technologies with real-world impact.
Founders Backing Founders:
Positioned as “the fund for founders, by founders, and of founders,” Equirus InnovateX Fund is built with a deep understanding of what it takes to build at the earliest stages. Having achieved its SEBI-mandated corpus target within 19 months of its first close, the fund expects to announce its final close soon. It is on a mission to back bold ideas, brilliant minds, and transformative tech- supporting passionate founders who are building the future.
About Equirus InnovateX Fund
Equirus InnovateX Fund is the venture capital arm of Equirus Group, established as a US$20 million (₹170 crore) SEBI-registered Category-I AIF focused on early-stage investments from Seed to Pre-Series A. The fund backs founders building in SaaS and DeepTech, with a strong emphasis on frontier technologies creating real-world impact. Positioned as “the fund for founders, by founders,” Equirus InnovateX achieved its corpus target within 19 months and continues its mission to empower India’s next generation of innovators.
By: Arushi Agarwal
