Gurugram, India [June 3, 2025] — Caret Capital, an early-stage thematic venture capital fund focused on sustainability, has raised over ₹160 crore within just six months of its launch. Backed by marquee investors including Bajaj Auto, Transport Corporation of India (TCI), and one of the most prominent non-profit private foundations based in the United States, the fund is well on track to reach its ₹400 crore target corpus.
Caret Capital is investing in category-building startups driving India’s growth story across Smart Mobility, Distribution & Supply Chain, and Jobs—sectors with strong tailwinds and transformative potential. The fund also aims to enable the creation of 10 million jobs and the reduction of 10 million metric tons of carbon emissions through its investments.
“Our mission is to back entrepreneurs who are building the next generation of sustainable solutions that will shape India’s future. The strong interest from investors is a testament to the potential of our thematic approach,” said Prajakt Raut, Co-founder and Partner at Caret Capital.
Key Highlights:
Thematic Focus on Sustainability
Caret Capital’s unique investment thesis is rooted in India’s core development areas—Smart Mobility, Distribution & Supply Chain, and Jobs. These sectors are projected to contribute over USD 1.2 trillion to the Indian economy by 2030.
Pipeline of Category-Leading Startups
The fund is set to announce four investments in the coming months, including:
- A subscription-based electric 2-wheeler platform serving gig workers,
- A battery lifecycle management company,
- A livestock feed distribution startup for rural India,
- An AI-powered SaaS platform for carbon emissions tracking in supply chains.
Caret360: In-House Accelerator Program
The Caret Accelerator is a 100-day, outcome-oriented program offering capital, hands-on support, and deep market access for early-stage startups to accelerate growth and impact.
Caret GPS – Growth Productivity Summit
Caret’s GPS (Growth Productivity Summit) is an annual industry forum that brings together thought leaders, founders, and ecosystem stakeholders to uncover innovations and boost productivity. The next summit is slated for later this year.
Strong Track Record
Caret Capital has previously backed 27 category-creating startups, including Celcius, Unstop, Traqcheck, EVeez, Awign, and Enmovil, all of which are making meaningful contributions in their respective domains.
