PE/VC investments in AI space grows five-fold to $359 million in FY19

Private equity/venture capital investments in the Artificial Intelligence (AI) segment in the country grew over fivefold in 2018-19, to $359 million (nearly Rs 25,000 crore) from $63 mn (Rs 440 crore) in FY18.

Led by one of $140 million in September 2018 by Mithril Capital, Blume Ventures, Tiger Global and others into Grey Orange Robotics. According to data from research firm Venture Intelligence, there were 38 such deals in FY19, compared to 25 the previous year. In 2016-17, investment into AI totalled $50 million via 19 deals; the year before, $51 million in 13 deals.