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India / Direct investor

Backing founders before the world catches on.

India-born, cross-border investor in AI-native software, physical AI and science-led businesses.

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Reported first cheque$500K-$1M
New-investment stagesPre-seed & Seed
Source-linked companies here10 companies
Reported maiden closeINR 300 crore

01 / The fund

AI-native capital across software and the physical world

Boundless Ventures backs founders across AI software, robotics, space, healthcare and consumer products. Its official thesis has four lanes: the AI-native stack, Make-in-India hardware, New-India consumer, and science with distribution. It is a broad AI investor with hard-tech holdings, not an exclusively frontier-science fund. Its India, Silicon Valley and London links support cross-border companies.

In a 28 September 2026 BusinessLine interview, founder and general partner Natasha Malpani reported an oversubscribed INR300 crore close, typical first cheques of $500,000-$1 million, and pre-seed and seed exclusively for new investments. August 2026 Mint reporting gives the same close and cheque range. Earlier 2025 launch coverage described an INR200 crore target and $200,000-$400,000 initial cheques, while April 2026 coverage used $100,000-$1 million. Those older figures are not combined with the newer mandate. The website says 60% is reserved for follow-ons; first-cheque-to-IPO describes continued support, not a claim that new investments begin at every stage.

Nine companies are named on the current official website portfolio. This page adds Lytmus AI, whose own site displays Boundless as a backer and whose June 2026 funding was directly attributed to Boundless by Business Standard. September reporting describes ten companies, but these differently dated lists do not establish a definitive current total. A personal-profile search also names One Robot and Infer; those leads are not silently substituted for unnamed or stealth companies, and are not yet counted in these verified cards. Current ownership, allocations and realised exits are not inferred.

Official investment thesis ↗ · September 2026 fund interview ↗ · August 2026 close reporting ↗

02 / Portfolio

Explore by sector

Ten source-linked companies, with the holding evidence separate from each company website. Nine come from the manager portfolio; Lytmus AI has company-site and direct funding-report evidence. Consumer commerce, healthcare delivery and financial software stay in Others instead of being relabeled hard tech. Planned aircraft and satellite systems are not presented as completed deployments.

Physical AI 2

Armatrix logo
Armatrix ↗
Official website portfolio

Builds snake-like robotic arms for inspection, painting and welding in confined industrial spaces. Motors and electronics sit outside the arm body, helping it work inside shipbuilding, oil-and-gas and aerospace assets without requiring a person to enter.

Holding source ↗
Aspera Industries logo
Aspera Industries ↗
Official website portfolio

Is developing autonomous aircraft designed to take off and land on both water and flat land. Its cargo-aircraft program aims to serve places without conventional runway infrastructure. The company describes the aircraft as coming soon, not a deployed commercial fleet.

Holding source ↗

Space Tech 1

PierSight logo
PierSight ↗
Official website portfolio

Builds mission-specific radar systems and maritime intelligence. Synthetic aperture radar uses radio signals to image through clouds and darkness; its planned VARUNA satellite constellation combines radar with ship-identification signals, while MATSYA combines data for vessel tracking.

Holding source ↗

Others 7

Superhealth logo
Superhealth ↗
Official website portfolio

Runs a Bengaluru healthcare platform across doctor consultations, surgery, maternity, dental and skin care. Current offerings include annual dental and skin-care memberships. This is an AI-adjacent healthcare-delivery business, not classified here as a frontier-biotechnology platform.

Holding source ↗
KNOT logo
KNOT ↗
Official website portfolio

Runs an app-based fashion-shopping and delivery service. The manager describes AI-supported fashion discovery and logistics. This consumer-commerce business is shown for portfolio completeness, not labeled as a hard-tech company.

Holding source ↗
Shram logo
Shram ↗
Official website portfolio

Builds minimi, a Mac app that captures personal work context and identifies unfinished commitments. The company describes a personal memory layer with local-device storage and support across existing apps, rather than only a generic workplace assistant.

Holding source ↗
Glide logo
Glide ↗
Official website portfolio

Turns saved social-media places into organized collections for local discovery and travel. The app lets users group places, record likes and visits, and receive nearby reminders; shared collections are labeled coming soon on the current site.

Holding source ↗
Alter logo
Alter ↗
Official website portfolio

Builds privileged-access controls for AI agents. Its platform gives each agent a scoped identity, checks policy before an API call, keeps credentials out of agent code, and records actions, with human approval where configured.

Holding source ↗
Hypernorm logo
Hypernorm ↗
Official website portfolio

Builds decision-support software for wealth managers. It monitors households and portfolios, flags mandate and risk issues, explains priorities, and prepares recommendations and client notes for a human adviser to approve.

Holding source ↗
Lytmus AI logo
Lytmus AI ↗
Reported investment, June 2026

Builds AI mentors for students preparing for NEET, the Indian medical entrance exam. Models trained with educator content support personalized study, revision and question practice across physics, chemistry and biology.

Company website also displays Boundless among its backers.

Holding source ↗

03 / Team & connect

Investment team

Natasha Malpani

Natasha Malpani

Founder & General Partner

Leads Boundless Ventures across AI-native software, physical AI and science-led businesses. The official biography describes investing across India, the US and the UK, an Oxford immunology background and Stanford MBA.

LinkedIn profile ↗

One current investment principal verified from the official biography and personal LinkedIn header. Directory-listed contacts without a verified current investment role are not presented as current investing contacts. Other founders featured on the portfolio page belong to portfolio companies, not the fund team.

Official founder contact route ↗

04 / Fund network

Limited partners

No named LP commitment was sufficiently verified in this check. Launch reporting describes friends, family and personal capital without a named roster. Family relationships, an office address at Motilal Oswal Tower and links to Motilal Oswal do not by themselves prove a fund commitment. The manager portfolio page labels other investors as co-investors, not LPs.

Named LPs not verified

Public information gap

This does not mean the fund has no LPs. Anthropic, NVIDIA, OpenAI, research labs and portfolio co-investors are not classified as LPs from program or ecosystem relationships.

Dated launch and capital context ↗

Research checked 2 November 2026. Public information is not investment advice or confirmation of available capital.