“We invested in AI before it became mainstream”: Sanjeev Bikhchandani on Info Edge's ₹1,268 crore portfolio

Info Edge has reported strong gains from its early investments in artificial intelligence and deeptech startups, with its AI portfolio more than doubling in value since 2020 as the company doubles down on emerging technology sectors.In a letter to shareholders released on Monday, the Naukri parent said it has invested ₹1,003 crore across 54 AI and deeptech startups since 2020, many of them before the global surge in AI-focused investments. The company said these investments span enterprise AI, robotics, semiconductors, spacetech, biotech and electric mobility.According to the company, its AI portfolio comprises 28 startups with cumulative investments of ₹614 crore. As of March 31, 2026, the portfolio was valued at ₹1,268 crore, representing a 2.1x multiple on invested capital and an estimated gross internal rate of return (IRR) of around 31%.The deeptech portfolio, which includes 30 companies, has received investments of ₹455 crore and is currently valued at ₹559 crore, translating into a 1.2x multiple and an estimated gross IRR of about 15%.Info Edge said it began investing in AI and deeptech businesses around 2020, ahead of broader investor interest in these sectors. The company added that 15 of its 28 AI portfolio companies and 13 of its 30 deeptech startups have subsequently raised externally led funding rounds from institutional investors including Insight Partners, Peak XV, SIG and Vertex.The company highlighted that some portfolio firms have also secured support under government-backed technology initiatives. Voice AI startup Gnani.ai was selected under the IndiaAI Mission and received GPU compute credits worth ₹177 crore, while deeptech startups ePlane and Manastu Space received research and development allocations under the government's RDI scheme.Consumer technology continues to account for the largest share of value creation in Info Edge's investment portfolio. The company said it has invested ₹2,755 crore across 45 consumer technology and consumer AI startups, a portfolio now valued at ₹37,214 crore. This translates into a 13.5x multiple and an estimated gross IRR of approximately 34%.The consumer portfolio includes investments in sectors such as quick commerce, food delivery, insurance aggregation, travel, healthcare, fintech and gaming. Info Edge noted that much of the portfolio's value comes from listed companies Eternal, which owns Zomato and Blinkit, and PB Fintech, the parent of Policybazaar.Overall, Info Edge said it has deployed nearly ₹4,900 crore across 135 startups through its balance sheet and alternative investment funds. These investments are currently valued at around ₹41,300 crore, implying an 8.4x multiple on invested capital and an estimated gross IRR of about 33%.In the letter, founder Sanjeev Bikhchandani said the company believes future value creation will be driven primarily by artificial intelligence, deeptech and consumer technology. He added that India is entering a phase where globally relevant technology companies are increasingly being built from the country rather than solely for the domestic market.Also read: Zoho’s Sridhar Vembu backs IBM chief’s AI bubble warning, says firm won’t chase data centre spending spree