# Rainmatter

> Rainmatter (https://rainmatter.com) is an Indian startup fund and incubator backed by Zerodha. We provide patient, long-term domestic capital (₹50 lakhs to ₹100 crores) to Indian founders building in fintech, climate, health and wellness, media, and deep tech.

Rainmatter started in 2016 by opening up Zerodha's financial APIs so fintech startups (beginning with smallcase) could build products for Indian retail investors while we handled the underlying regulatory and brokerage plumbing. Over time, we realized that helping Indians with money wasn't enough ("what's wealth without health?") and expanded into health, climate, storytelling, and foundational technology.

How we work and invest:

- **Patient, balance-sheet capital:** We have committed ₹2,000 crores from Zerodha's profits to back Indian entrepreneurs. We have no external LPs, no fund lifecycle pressures, and no forced exit timelines.
- **Stage and cheque flexibility:** We do not stick to rigid stage labels. We invest across early to late stages, with cheque sizes ranging from ₹50 lakhs to ₹100 crores.
- **Hands-off, high-trust approach:** We do not take board seats or get involved in day-to-day operations. Beyond capital, we help founders with mentorship, financial APIs, product validation, and founder peer networks.
- **Overlapping investments:** Because our goal is to grow the overall Indian startup ecosystem, we are comfortable backing multiple startups in similar or overlapping spaces while maintaining strict discretion with all data and updates between teams.
- **Team:** Founded by Nithin Kamath (Founder & CEO, Zerodha), and investments are led by Dinesh Pai.
- **How to apply:** Founders can apply via our [Pitch Application Form](https://forms.gle/zg3QSsKpeBWqTgpy8) with a simple deck covering: (1) the problem, (2) the solution, (3) progress so far, (4) monetization model, (5) key challenges and risks, and (6) team details. You do not need a warm intro or an investment banker to reach us—every application submitted through the form is reviewed directly by the investment team within 2–3 days, and we reach out if there is a fit.
- **Rainmatter Capital vs. Rainmatter Foundation:** Rainmatter Capital (`rainmatter.com`) makes equity investments in for-profit startups. [Rainmatter Foundation](https://rainmatter.org/) (`rainmatter.org`) is our non-profit initiative established in 2019 with a $200 million commitment for grants, fellowships, and ecosystem support across climate action, ecological restoration, and rural livelihoods. All economic upside from our climate investments is reinvested back into the Foundation.

## Core Pages & Ecosystem

- [Home](https://rainmatter.com/): Overview of Rainmatter, investment philosophy, and recent updates.
- [About Rainmatter](https://rainmatter.com/about): The origin story of Rainmatter from 2016 to backing fintech, health, climate, and media in India.
- [Full Portfolio](https://rainmatter.com/portfolio): Complete directory of 161 startups backed by Rainmatter across all sectors.
- [FAQs & Application Guide](https://rainmatter.com/faqs): Answers on what we look for in a pitch deck, review timelines (2–3 days), cheque sizes, and overlapping investments.
- [Apply for Funding](https://forms.gle/zg3QSsKpeBWqTgpy8): Direct application form for founders pitching Rainmatter.
- [Rainmatter Blog on Z-Connect](https://zerodha.com/z-connect/category/rainmatter): Investment announcements, sector theses, and founder notes published by the Rainmatter team.
- [Rainmatter Community Forum](https://discuss.rainmatter.com/): Public discussions on health, nutrition, fitness, personal finance, and startups.
- [Rainmatter Podcast](https://www.youtube.com/@rainmatterin/playlists): Video conversations and playlists with founders, researchers, and operators.
- [Rainmatter Foundation](https://rainmatter.org/): Non-profit climate and ecological restoration foundation ($200M commitment) supporting NGOs, CSOs, and researchers across India.
- [Grove Forum (Climate Community)](https://grove.rainmatter.org/): Community discussion forum run by Rainmatter Foundation for climate, ecology, water, and sustainability practitioners.

## Portfolio: Fintech (39 Companies)

- [Actlogica](https://actlogica.com/): Platform to help accelerate financial inclusion in India by providing scalable tech infrastructure to wealth managers and investment professionals.
- [AssetPlus](https://www.assetplus.in/): Platform offering solutions to financial advisors and mutual fund distributors to streamline mutual fund investing through multi-portfolio support, research, and digital marketing.
- [BeyondIRR](https://www.beyondirr.tech/): Analytics and support for wealth advisors.
- [Blostem](https://blostem.com/): Software infrastructure that lets apps offer fixed deposits from multiple banks without dealing with complex bank integrations directly.
- [Capitalmind](https://capitalmind.in): Data-driven investment strategies and asset management geared toward building long-term wealth.
- [Card91](https://www.card91.io/): End-to-end corporate card and payment issuance infrastructure for company expenses, food, travel, insurance, and closed-group card programs.
- [Castler](https://castler.com/): Digital escrow platform for enterprises and consumers to make business transactions safer and eliminate fraud.
- [Cred](https://cred.club/): Members-only credit card bill payment, UPI, account aggregator, and vehicle management app.
- [Digio](https://www.digio.in/): Paperless documentation, e-signing, identity verification, and digital onboarding workflows for Indian businesses and consumers.
- [Ditto](https://joinditto.in/): Advisory platform making health and term insurance simple and understandable.
- [Epifi](https://fi.money/): Digital banking and money management platform built for working professionals in India.
- [Fold](https://fold.money/): Personal finance companion for India built on the Account Aggregator framework.
- [Goalteller](https://goalteller.com/): Personal finance and goal-based investment planning platform.
- [GoldenPi](https://goldenpi.com/): Online marketplace for retail investors to invest in bonds and debentures (Acquired).
- [Hissa](https://www.hissa.com/): Legal and fintech platform enabling private companies to digitize and manage equity holdings and fundraising transactions.
- [Indiadatahub](https://indiadatahub.com/): Market and economic data analytics platform for students, analysts, investors, and policymakers.
- [IndiaGold](https://indiagold.co/gold-loan): Platform digitizing gold loans and locker services.
- [Indus](https://investindus.com/nz): Platform connecting global retail investors to India's financial markets with automated tax and compliance.
- [Jodo](https://www.jodo.in/): Financial products for middle-income urban households, starting with monthly no-interest school fee payments.
- [Jupiter](https://jupiter.money/): Community-built digital banking and personal finance app.
- [Kalpi](https://kalpi.ai/): Combined equity screener and stock analysis platform.
- [Kambala](https://www.kambala.co.in/): Trading platform supporting equity, currency, and commodity markets.
- [M2P Fintech](https://m2pfintech.com/): Core banking, lending, and payment API infrastructure (SaaS).
- [Mprofit](https://www.mprofit.in/): Portfolio tracking and accounting software for investors, family offices, and wealth managers.
- [NullPointer](https://www.nullpointer.in/): Financial data insights platform providing predictive credit default models and unstructured PDF data extraction.
- [OneAssure](https://oneassure.in): Full-stack digital insurance distribution and servicing platform.
- [PensionBox](https://pensionbox.in/): Digital pension planning and tracking platform for Indians.
- [Prime Investor](https://primeinvestor.in): Research-driven investment platform offering independent recommendations and curated portfolios.
- [Procol](https://www.procol.io/): Procurement software helping enterprises manage sourcing and vendor operations transparently.
- [Quicko](https://quicko.com/): Online platform and API suite to plan, prepare, and file Income Tax, GST, and TDS returns.
- [RIA](https://riainsurance.com/): Digital-first health insurance manufacturer.
- [Rupeeflo](https://rupeeflo.com): NRI banking and wealth management platform.
- [Sensibull](https://sensibull.com/): Options trading and investor education platform built to make derivatives trading safer and more accessible.
- [smallcase](https://www.smallcase.com/): Platform for simple, transparent model portfolios of stocks and ETFs.
- [Streak](https://www.streak.tech/): No-code platform to backtest and deploy algorithmic trading strategies.
- [The Financialist](https://thefinancialist.co.in/): Registered investment advisor platform helping individuals manage insurance, taxes, investments, and loans.
- [Tijori](https://www.tijorifinance.com/): Public markets fundamental research, alternative data, and company tracking platform.
- [ValuEnable](https://valuenable.in/): Platform helping life insurance policyholders unlock loans against surrender value or assign policies instead of lapsing.
- [Wint Wealth](https://www.wintwealth.com/): Platform for businesses to raise retail debt and for retail investors to invest in listed debt securities and fixed-income assets.

## Portfolio: Climate (51 Companies)

- [Akshayakalpa](https://akshayakalpa.org/): Farmer-entrepreneurship initiative using sustainable farming practices and technology to produce organic dairy and food.
- [Alt Mat](https://altmat.in/): Materials science company transforming agricultural waste into natural fibres and yarns.
- [Amwoodo](https://amwoodo.com/): Manufacturer of bamboo alternatives for everyday consumer items and construction.
- [Apratima Biosolutions](https://www.apratima.com/): Bio-engineering solutions enabling plastic waste circularity.
- [AquaAirX](https://aquaairx.com/): Deep-tech startup building amphibious drones for autonomous air and underwater missions across industrial, maritime, and defense use cases.
- [Aurassure](https://aurassure.com/): IoT climate monitoring and AI insights on air quality, weather, and localized climate risks.
- [BluJ Aero](https://blujaero.com/): Hydrogen-electric Vertical Take-off and Landing (VTOL) aircraft for regional cargo logistics.
- [Boson](https://bosonwhitewater.com/): Sewage treatment plant (STP) recovery systems converting wastewater into potable water for industries and apartment complexes.
- [CarbonStrong](https://carbonstrong.in/): Low-carbon cement alternative manufacturer.
- [Climes](https://www.climes.io/): Consumer climate finance platform integrating carbon neutralisation across flights, deliveries, and events.
- [Delectrik](https://delectrik.com/): Manufacturer of vanadium redox flow batteries for commercial and grid-scale energy storage.
- [Dharaksha](https://www.dharaksha.com/): Mycelium-based biodegradable packaging materials created from crop stubble waste.
- [Econovus](https://econovus.co.in/): Sustainable industrial packaging manufacturer and custom packaging developer.
- [Ekam Eco Solutions](https://ekameco.com/): Ecological sanitation and decentralized waste management solutions.
- [FluxGen](https://Fluxgen.com/): End-to-end IoT and AI water management solutions for industries and commercial facilities.
- [Fragaria](https://thefragaria.com/): Agricultural technology company building controlled-environment farming systems.
- [Green Worms](https://greenworms.org/): Circular waste management organization creating formal livelihoods for informal waste pickers.
- [Greenvironment](https://greenvironmentindia.com/): Real-time water and environmental monitoring technologies for buildings and businesses.
- [Hasiru Dala Innovations](https://hasirudalainnovations.com/): Circular economy waste management company integrating waste pickers into formal supply chains.
- [InfinityBox](https://getinfinitybox.com/): Reusable, recyclable food and industrial container network replacing single-use plastics.
- [Jovaki Agro Food](https://jovaki.com/): Food processing company working with regenerative farming and tribal communities.
- [JSP Enviro](https://www.jspenviro.com/): Industrial secondary water and effluent treatment engineering.
- [Karo Sambhav](https://www.karosambhav.com/): Producer responsibility and e-waste recycling platform for enterprises, consumers, and governments.
- [Krop AI](https://kropai.com): Platform enabling enterprises to manage and trace agricultural food sourcing.
- [LogicLadder](https://www.thesustainabilitycloud.com/): Enterprise software (The Sustainability Cloud) to track carbon emissions, energy, water usage, and waste.
- [Marin Elixirs](https://marinelixirs.us/): Seaweed-based biostimulants used as natural agricultural fertilizers.
- [MatchLog](https://matchlog.delivery/): Logistics optimization platform turning shipping containers in the hinterland to eliminate empty container runs.
- [Naxatra Labs](https://www.naxatralabs.com/): High-efficiency radial and axial flux electric motors for EVs and industrial equipment.
- [Neufin](https://neufin.co/): Clean energy contracting and financing platform helping businesses transition to structured solar, wind, and BESS electricity.
- [Numocity](https://www.numocity.com/): EV charging and energy management software middleware.
- [Organic Mandya](https://www.organicmandya.com/): Farmer-collective mainstreaming organic farming across 7,000+ farmers in 270+ villages.
- [Ossus Bio](https://www.ossusbio.com/): On-site green hydrogen production from industrial wastewater using retrofittable bioreactor hardware.
- [Padcare](https://www.padcarelabs.com/): Sanitary and menstrual waste recycling technology safeguarding women, waste pickers, and the environment.
- [Polycycl](https://polycycl.com/): Chemical recycling technology converting hard-to-recycle plastic waste into circular chemical feedstocks.
- [Raheja Solar](https://www.rahejasolar.com/): Foldable solar dryers for farmers and FPOs with buyback support for dehydrated produce.
- [Recube](https://recube.co.in): Zero-waste and sustainability execution for large events.
- [Saroja Earth](https://saroja.earth/): R&D-focused engineering company building clean air solutions.
- [Smarter Dharma](https://www.smarterdharma.com/): Sustainability planning and materials marketplace for real estate builders and developers.
- [SolarSquare](https://www.solarsquare.in/): Residential and commercial rooftop solar provider making going solar simple and transparent for homeowners.
- [Solinas](https://www.solinas.in/): Pipeline inspection and cleaning robotics addressing water leakages, contamination, and manual scavenging.
- [SundayGrids](https://www.sundaygrids.com/): Digital solar platform enabling users to reserve remote solar capacity and offset utility power bills.
- [Terra.do](http://terra.do/): Online climate school and career platform training professionals and entrepreneurs for climate work.
- [The Good Doll](https://thegooddoll.in/): Handcrafted fabric dolls made by rural and indigenous women artisans in the Nilgiris.
- [Two Brothers Organic Farms](https://twobrothersindiashop.com/): Regenerative, seed-to-shelf organic farm products (atta, cold-pressed oils, cultured ghee) sourced directly from farmers.
- [Vasshin](https://himalayanpine.co/): Environmental engineering company manufacturing bio-based products from Himalayan pine needles to help prevent forest fires.
- [Voltanova](https://voltanova.in/): Low-cost, carbon-free thermal battery energy storage systems for high-temperature industrial heat.
- [VoltSeal](https://voltseal.in/): Energy storage hardware and battery systems built for Indian operating conditions.
- [Wastelink](https://wastelink.co/): Upcycling commercial food waste into sustainable animal feed ingredients.
- [Wattr](https://wattr.ai/): AI-driven optimization for industrial water and power systems.
- [Zerocircle](https://www.zerocircle.in/): Seaweed-derived bio-alternatives to single-use plastics and packaging.
- [Zodhya](https://www.zodhyatech.com/): Hardware and AI controllers reducing commercial HVAC and building electricity consumption by 15–20%.

## Portfolio: Health and Fitness (46 Companies)

- [5C Network](https://5cnetwork.com/): AI-powered tele-radiology and medical diagnostics network for hospitals and imaging centers.
- [Adsys](https://adsys.in): Machine-learning-driven point-of-care devices for rapid, low-cost blood testing.
- [Agilitas](https://agilitas.com/): Integrated sports footwear and apparel manufacturing, brand, and retail company.
- [AI Health Highway](https://aisteth.com/): Maker of AiSteth, a smart stethoscope for early screening and detection of cardiorespiratory conditions.
- [Allo Health](https://www.allohealth.com/): Clinical sexual health and wellness clinics and telemedicine platform.
- [Amaha](https://www.amahahealth.com/): Mental health organization delivering therapy, psychiatry, and workplace wellness online and via clinics.
- [Arboreal](https://arborealstevia.com/): Plant-based natural stevia extracts and bionutritional sweetening solutions.
- [Aroleap](https://www.aroleap.com/): Smart, wall-mounted digital weight home gym with adaptive resistance and coaching.
- [Biopeak](https://www.biopeak.com/): Proactive health, diagnostics, and longevity community.
- [Blackfrog](https://www.blackfrog.in/): Precision portable cold-chain medical carriers for last-mile vaccine and biological transport.
- [Boldcare](https://boldcare.in/): Science-backed men's health and sexual wellness products.
- [Devigere BioSolutions](http://www.devigerebiosolutions.com/): B2B producer of clean, plant-based proteins for food and cosmetics.
- [Dreamspan](https://dreamspan.co/): Bedroom sleep technology and temperature-regulated sleep hardware.
- [Emoha](https://emoha.com/): At-home personalized elder care, emergency response, and senior wellness services.
- [Even](https://even.in/): Managed healthcare and preventive care membership with integrated hospital cover.
- [Evolved Foods](https://evolvedfoods.in/): Sustainable, plant-based protein ingredients for everyday Indian home cooking.
- [Fitpage](https://fitpage.in/): Endurance training, running coaching, and sports science education platform.
- [Fittr](https://www.fittr.com/): Community-first fitness and nutrition coaching platform and smart fitness ring maker.
- [Game Theory](https://www.gametheory.in/): Tech-enabled neighborhood sports facilities and matchmaking platform.
- [Gytree](https://gytree.com/): Women's health, midlife care, and preventive nutrition platform.
- [Health On Plants](https://healthonplants.com/): Artisanal non-GMO tofu and plant-based foods made from organically sourced soybeans.
- [Humanedge](https://humanedge.co/): Longevity and metabolic science platform helping individuals and workforces optimize daily energy.
- [Immuneel](https://immuneel.com/): Biotechnology company developing cell and gene immunotherapies (CAR-T) for affordable cancer care in India.
- [Lissun](https://www.lissun.app/): End-to-end mental and emotional healthcare platform partnering with hospitals and clinics.
- [Lo! Foods](https://lofoods.fit/pages/mission): Low-carb, diabetic-friendly, and keto packaged Indian foods.
- [Machaxi](https://www.machaxi.com/): Grassroots sports coaching, academies, and sports retail infrastructure.
- [Michezo](https://michezo.com): Turnkey design and engineering of federation-grade sports tracks, turfs, and stadiums.
- [Myhealthcare](https://www.myhealthcare.life/): Hospital EMR, clinical workflow, and digital care management platform.
- [Niramai](https://www.niramai.com/): Radiation-free, non-invasive thermal imaging and AI for early breast cancer screening.
- [NOTO Ice Creams](https://eatnoto.com/): Low-calorie, zero-added-sugar ice creams and desserts.
- [O4H](https://o4h.in/): Bangalore-based cloud kitchen focused on balanced, everyday healthy meals.
- [Onco](https://onco.com/): Patient-centric cancer care management platform (Wound down).
- [PeeSafe](https://www.peesafe.com/): Personal hygiene and feminine menstrual care brand.
- [Peptris](https://www.peptris.com/): AI-assisted small-molecule drug discovery startup.
- [Praan Health](https://praan.health): Structured clinical and lifestyle care for ageing parents managing chronic conditions.
- [Sisters in Sweat](https://sistersinsweat.in): Women-only sports, fitness community, and wellness sessions.
- [Spectacom](https://spectacom.in/): Endurance and obstacle-race platform (Devil's Circuit) with an in-house ticketing, timing, and AI event tech stack.
- [Stepout](https://www.stepout.ai/): AI video and performance analytics platform for football clubs and academies.
- [Sukino](https://sukino.com): Continuum care and post-hospital inpatient/home rehabilitation centers for chronic and post-acute recovery.
- [Superyou](https://superyou.in/): Bio-fermented yeast protein wafers and everyday high-protein snacks.
- [The Kenko Life](https://thekenkolife.com): Customized, nutritionist-planned healthy meal subscriptions.
- [The Whole Truth](https://thewholetruthfoods.com/): Clean-label packaged foods, protein powders, bars, and dark chocolate with 100% ingredient transparency and no added sugar or preservatives.
- [Trunativ](https://trunativ.co/): Everyday clean nutrition and protein fortification products (Acquired).
- [TWF Flours](https://twfflours.com/): Precision stone-milling technology that retains natural micronutrients and dietary fiber in fresh flour.
- [Ultrahuman](https://www.ultrahuman.com/): Metabolic health platform building smart rings (Ultrahuman Ring AIR), continuous glucose monitoring, and preventive blood testing.
- [Upliance](https://www.upliance.ai/): AI-guided smart kitchen cooking appliance for Indian homes.
- [Yoska](https://yoska.in/): Personalized coaching and community platform for running, triathlon, and endurance fitness.

## Portfolio: Media (9 Companies)

- [Finshots](https://finshots.in/): Daily newsletter and media house explaining business, policy, and finance news in plain English.
- [Gen.E](https://www.instagram.com/gen.e_in): Digital storytelling making sustainability and climate action relatable.
- [LearnApp](https://www.learnapp.com/): Practical video courses and workshops on investing, trading, technology, and management.
- [Sochcast](https://www.sochcast.com/): Women-centric audio content and podcast distribution platform.
- [Teepoi](https://www.teepoi.com/): Bengaluru-based documentary film production house.
- [The Arc](https://thearcweb.com/): Research-led business and technology journalism covering influential Indian companies.
- [The Bridge](https://thebridge.in/): Digital sports media publication dedicated to Indian Olympic, paralympic, regional, and grassroots sports.
- [The Ken](https://the-ken.com/): Subscription-driven business and technology journalism publication based in Bengaluru.
- [The Plate](https://theplate.in/): Digital journalism platform focused on India's agriculture, food systems, and agrarian economy.

## Portfolio: Other & Deep Tech (16 Companies)

- [Agnikul](https://agnikul.in/): Aerospace company building 3D-printed rocket engines and small-satellite launch vehicles (Agnibaan) from India's first private launchpad.
- [Business Hero](https://businesshero.club/): Curated marketplace connecting small business owners and digital marketers (Wound down).
- [ERPNext](https://erpnext.com/): Free and open-source enterprise resource planning (ERP) software built by Frappe.
- [Galaxeye](https://galaxeye.space/): Space-tech startup building multi-sensor earth observation satellites combining synthetic aperture radar (SAR) and optical payloads.
- [Kalvium](https://kalvium.com/): Work-integrated undergraduate Computer Science Engineering program.
- [Karban](https://karban.in/): Design-led hardware company building bladeless ceiling fans, air purifiers, and lighting in a single low-material appliance.
- [Kredily](https://kredily.com/): Cloud-based HR, attendance, and payroll software for Indian SMEs.
- [Lawyered](https://lawyered.in/): Roadside legal assistance and compliance resolution platform for commercial fleets and mobility operators.
- [LWL](https://ladieswholead.in/): Women-centric leadership networking and mentorship community.
- [Mecha Systems](https://mecha.so): Modular open-source hardware and developer platform for building connected edge and handheld computing devices.
- [MyLang](https://mylang.in/): Digital platform for Kannada audiobooks, e-books, and regional literature.
- [Ptal](https://ptal.com): Handcrafted brass, copper, and kansa kitchenware made by traditional artisans.
- [QShala](https://qshala.com/): Curiosity and general-awareness learning programs for school children.
- [Spacefields](https://spacefields.in): Aerospace defence and rocket propulsion R&D startup.
- [Sparkl](https://www.sparkl.me/): Personalized 1-on-1 online tutoring for IB and IGCSE curriculum students.
- [Stoa](https://www.stoa.com/): Alternative business and management bootcamp for working professionals (Wound down).

## Optional

- [Rainmatter on LinkedIn](https://www.linkedin.com/company/rainmatterin): Official LinkedIn page.
- [Rainmatter on X (Twitter)](https://x.com/rainmatterin): Official X (Twitter) handle (`@rainmatterin`).
- [Rainmatter on Instagram](https://www.instagram.com/rainmatterin/): Official Instagram handle (`@rainmatterin`).