Naganand Doraswamy
Founder & Managing Partner
Fund strategy, early-stage technology investments and portfolio-company boards.
LinkedIn profile ↗India / Direct investor
Fuelling tech entrepreneurship.
Early-stage science and technology companies building defensible enterprise products from India for global markets.
Connect NowFund III initial cheque₹10Cr-₹20Cr
Investment stageEarly stage
Fund III target, Apr 2026₹750Cr
Unique public directory33 companies
01 / The fund
Science and technology with a product path
Ideaspring backs technical founders creating B2B products where proprietary science, engineering or software is hard to copy. Its model pairs early capital with hands-on help on product strategy, customer validation, hiring and global expansion.
In its April 2, 2026 ten-year review, the firm describes a ₹750Cr target for Fund III, initial cheques of ₹10Cr-₹20Cr and roughly 30% reserved for top-performing companies at Series B/C. Themes are AI-powered enterprise software, biotech and life sciences, and deep tech including semiconductors, space, robotics and advanced materials. A target is not a final close; no current close amount is claimed.
The same official review describes Fund I at ₹118Cr (2016) and Fund II at ₹265Cr (2021). These are the firm’s retrospective amounts, not the older launch targets of ₹125Cr and ₹200Cr in SIDBI’s register. The review reports 33 companies across those first two funds and 8+ full exit cycles; those headline counts are not forced onto the current directory, which now also includes a Fund III company. Older reporting describes Fund II fundraising continuing into 2022, so 2021 is the firm’s vintage label rather than a claimed final-close date.
Official Fund III terms and ten-year review ↗ · Official fund and scheme register ↗02 / Portfolio
Explore by sector
All 33 unique companies in the official public directory, after removing its duplicate Numocity card. Includes historical exits and HrdWyr, labelled Fund III. Fund labels below identify the investing vehicle, not entry-round or current financing-stage claims. Six profiles explicitly carry exit badges; the fund’s newer quarterly update also reports Nimesa’s acquisition. The 8+ exit-cycle headline is not treated as eight independently mapped full shareholder exits. Sector groups are DTT technology groupings.
BioTech 6
Fund-listed vehicle: Fund I
Drug development for vitiligo and other autoimmune skin diseases, using treatments designed to restore normal skin function.
Holding source ↗
Fund-listed vehicle: Fund II
Engineered enzymes and protein-design tools for industrial chemistry, pharmaceutical production and other manufacturing processes.
Holding source ↗
Fund-listed vehicle: Fund II
Curapod non-invasive light-therapy devices for pain management, with treatment adjusted through device sensing and software.
Holding source ↗
Fund-listed vehicle: Fund II
Precision-fermentation and protein-engineering technology for food ingredients, including sweet proteins and a fusion-protein sugar substitute.
Holding source ↗
Fund-listed vehicle: Fund I
AI-supported clinical decision and care-management tools focused on cardiac and pulmonary health, as described in the fund record.
Former website redirects to an SH Medical app; its identity and continuity could not be verified. Current destination withheld.
Holding source ↗
Fund-listed vehicle: Fund II
Blood-based tests for early liver-cancer detection using markers associated with changes in DNA regulation.
The fund’s www address has a certificate mismatch. The working non-www company site was checked.
Holding source ↗Energy & Materials 2
Fund-listed vehicle: Fund II
Location-specific environmental data, including air quality, pollen, weather and fire risks, delivered through software interfaces.
Holding source ↗
Fund-listed vehicle: Fund I
Software for operating electric-vehicle charging networks, including charger management, payments and energy use.
Holding source ↗Physical AI 2
Fund-listed vehicle: Fund II
Hydrogen-electric vertical-takeoff aircraft under development for cargo and passenger transport, with no runway needed.
Holding source ↗
Fund-listed vehicle: Fund II
Solar-electric fixed-wing drones for long-duration aerial monitoring, surveying and surveillance.
Holding source ↗Semiconductors 1
Fund-listed vehicle: Fund III
Fabless chip design for AI-native systems-on-chip, combining control, sensing and on-device intelligence for industrial and consumer equipment.
Holding source ↗Quantum 1
Fund-listed vehicle: Fund II
Software for selecting useful qubits and accelerating quantum-computing workloads, aimed at complex optimization problems.
The fund’s website button links to the founder’s Wikipedia page, not a company site. Current company destination withheld.
Holding source ↗Others 21
Fund-listed vehicle: Fund I
Sales software that captures contacts at trade shows and events and enriches them with company information for follow-up.
Holding source ↗
Fund-listed vehicle: Fund I
Natural-language analysis of customer reviews and feedback for product, brand and market insights. Acquired by Acceldata.
Former company site is inaccessible. Linked to the acquirer’s completed-acquisition announcement.
Holding source ↗
Fund-listed vehicle: Fund II
Tools for detecting advertising fraud, filtering invalid traffic and protecting digital ad spending.
Holding source ↗
Fund-listed vehicle: Fund I
E-commerce conversion tools, customer-behavior analysis and consulting to help online stores improve buying experiences.
Holding source ↗
Fund-listed vehicle: Fund II
Airline-pricing and revenue-management software that uses data and AI to adjust fares and offers.
Holding source ↗
Fund-listed vehicle: Fund II
AI-supported personalized learning and decision pathways. Its current MyGooru platform extends this approach to enterprise and government workflows.
The original Gooru site directs users to MyGooru.ai; the current platform was checked.
Holding source ↗
Fund-listed vehicle: Fund II
Software for finding and assessing acquisition targets, strategic investments and partnerships using company and market data.
Holding source ↗
Fund-listed vehicle: Fund II
Portable Raman-spectroscopy instruments that identify materials from the way laser light scatters, for security and industrial inspection.
Holding source ↗
Fund-listed vehicle: Fund I
ManageArtworks software for coordinating packaging, artwork approval, proofreading and regulatory-content workflows.
Holding source ↗
Fund-listed vehicle: Fund II
AI tools for understanding large codebases, modernizing legacy software and moving enterprise applications between technology platforms.
Holding source ↗
Fund-listed vehicle: Fund I
Software-defined wide-area networking, which lets businesses centrally manage secure connections between offices, data centres and cloud services.
Holding source ↗
Fund-listed vehicle: Fund II
Online-store merchandising software that helps e-commerce teams personalize product displays and shopping experiences without writing code.
Holding source ↗
Fund-listed vehicle: Fund I
Voice AI for in-car assistants, contact-centre conversations, speech analytics and voice-controlled connected devices.
Original company site redirects to the verified current Mihup domain.
Holding source ↗
Fund-listed vehicle: Fund I
Cloud application backup and disaster-recovery software that helps businesses restore workloads after outages, mistakes or cyberattacks.
The fund’s Q4 FY2025-26 update reports the acquisition, although its company profile has no exit badge. The company site remains accessible; acquirer completion notice not independently found.
Fund acquisition update ↗ · Holding source ↗
Fund-listed vehicle: Fund I
Machine-learning tools that connect developers with technical communities, useful content and expert knowledge. Fund reports acquisition by Essenvia.
Former company domain is for sale. Use the fund’s holding record instead.
Holding source ↗
Fund-listed vehicle: Fund I
Simulation software that helps hardware engineers test electromagnetic interference and compatibility before building physical prototypes.
Holding source ↗
Fund-listed vehicle: Fund II
Connected-vessel software for tracking ship performance, maintenance, fuel use and remote maritime operations.
Holding source ↗
Fund-listed vehicle: Fund I
Automated checks of cloud-security settings and compliance across enterprise infrastructure. Assets acquired by IBM.
Fund-supplied IBM announcement URL returned 404; replaced with IBM’s current acquisition archive. This is an asset acquisition, not a claim about all shareholder proceeds.
Holding source ↗
Fund-listed vehicle: Fund I
Spatial mapping and augmented-reality technology that anchors digital objects in real-world environments. Acquired by Byju’s.
The fund links to coverage, not an operating company site. Current standalone destination withheld.
Holding source ↗
Fund-listed vehicle: Fund I
AI-supported behavioral nudges that help sales and operations teams build work habits and improve task performance.
Holding source ↗
Fund-listed vehicle: Fund I
Cloud software for team communication, tasks and project workflows. Fund reports acquisition by iManage.
The fund reports the acquisition. Its supplied iManage page independently confirms co-founder Sanjay Shah joining iManage, but does not itself name Zapty.
Holding source ↗03 / Team & connect
Investment team
Suryaprakash Konanuru
Partner & Chief Technologist
New investment opportunities, technical assessment and support for portfolio companies.
LinkedIn profile ↗
Kailashnath MS
Partner
Investments, fundraising and portfolio management, with a focus on robotics, climate technology and deep tech.
LinkedIn profile ↗
Arihant Patni
Venture Partner
Enterprise technology investing and company building, alongside his Patni family-office and other investment roles.
LinkedIn profile ↗
Sulesh Kumar
Vice President
Investment-team research and sector analysis. His current LinkedIn headline explicitly identifies investments at Ideaspring.
LinkedIn profile ↗
Satrajit Neogy
Investment Associate
Early-stage deep-tech and AI investment evaluation, research and portfolio support.
LinkedIn profile ↗Six investment professionals, with official portraits and direct LinkedIn checks. Arihant’s current official header and LinkedIn experience say Venture Partner, despite older body copy saying Managing Director and his headline naming the Patni family office. Kailash’s official LinkedIn button is empty; his verified personal profile is used instead. Sulesh is retained because the official bio places his research in the investment team and his current headline says investments. Venture advisor, finance and operations roles are excluded.
Official fund website ↗04 / Fund network
Limited partners
Institutional fund backing verified from the allocator’s own public register. Sanctioned commitments are not capital drawn or final fund sizes. No individual was independently verified specifically as an LP; historical founders, general partners and named launch backers are not relabelled as personal LPs.
SIDBI / Fund of Funds for Startups
Fund I and Fund II sanctioned backing
SIDBI’s public table names Idea Spring Capital - Future Now! with ₹18Cr sanctioned and Future Now II with ₹50Cr sanctioned. It shows historical target corpuses of ₹125Cr and ₹200Cr, distinct from the firm’s retrospective ₹118Cr and ₹265Cr fund amounts. No Fund III commitment inferred.
Allocator commitment register ↗2016 launch coverage names T.V. Mohandas Pai, Amit Patni and Arihant Patni among anchor/backers and also describes GP or management roles. That does not establish each person’s legal LP capacity. Unnamed domestic investors and family offices remain unnamed.