Equirus InnovateX Fund, the venture capital arm of Equirus Group, has announced its first investment in the AI space, leading a ₹12 crore seed funding round in Consuma AI with a ₹7 crore contribution. The round also saw participation from prominent angel investors, including Abhishek Goyal (Tracxn), Mekin Maheshwari (Flipkart), Bhavik Dholakia (Swatantra Wealth), Harsh Shah (Fynd), Arnav Kumar (Leap Finance), Shiv Kapoor (Titan Capital), and Biswa Kalyan Rath (Comedian), among others.
Founded in 2021 by Abhilash Madabhushi, Consuma AI is transforming the traditional consumer research industry by replacing slow, survey-based methods with an AI-first approach. The platform leverages advanced machine learning to analyze real-time digital behaviour, enabling brands to gain deep, data-driven insights into evolving consumer preferences. Its proprietary AI engine empowers insight and brand teams to complete consumer research in just 30 minutes — instead of 2–3 months — at one-tenth the cost and across a thousand times more data points.
Speaking about the investment, Sadhika Agarwal, Principal at Equirus InnovateX Fund, said, “In a world of quick commerce where consumer expectations evolve in real time, shelf life of insights is low. Brands can no longer rely on million-dollar research projects that run into months. Consuma AI’s exceptional team and platform brings that decision intelligence into the moment.”
The investment aligns with the vision of Equirus InnovateX Fund, which is the Equirus Group’s first venture capital vehicle — a $20 million (₹170 crore) SEBI-registered Category-I AIF focused on early-stage investments from Seed to Pre-Series A. The fund primarily backs founders building in SaaS and deeptech domains, targeting companies that bring transformative impact to traditional industries through technology.
So far, Equirus InnovateX has invested in several high-growth startups, including Pointo (CleanTech Battery Company), Datazip (Composable Lakehouse Platform), and GreenStitch (Fashion-Focused ESG Accounting SaaS). The Consuma AI investment marks a significant step in the fund’s strategy to expand into the AI-driven intelligence ecosystem, supporting innovation that bridges speed, scale, and actionable decision-making for modern businesses.
