After a challenging start, Innovobot Resonance Ventures (IRV) is ready for a fresh start, led by seasoned investor Neha Khera, with a renewed focus on deep-tech startups.
A New Chapter for Innovobot Resonance Ventures
Montréal-based Innovobot Resonance Ventures (IRV) has just kicked off an exciting new chapter. Under the leadership of Neha Khera, a veteran investor, IRV is making its comeback with a refreshed vision aimed at tackling some of the most complex and rewarding deep-tech opportunities.
IRV, initially launched in 2018, had struggled to meet its fundraising targets, falling short of its $40 million CAD goal for its first deep-tech fund. However, with Khera at the helm, the firm is ready to regroup and re-enter the market, eager to back 25 to 30 innovative deep-tech startups over the next few years.
Neha Khera Brings Expertise and Vision
With a 13-year track record in venture capital, including leadership roles at MaRS Investment Accelerator Fund, 500 Canada, and 2048 Ventures, Neha Khera is no stranger to the world of early-stage investments. Khera’s arrival at Innovobot marks a pivotal moment for the firm, as she takes charge of its revitalized strategy.
In a recent interview, Khera expressed the firm’s readiness to “write cheques” and support startups that push the boundaries of artificial intelligence (AI), robotics, and advanced materials. Under Khera’s leadership, the firm will focus on pre-seed investments, providing essential capital to startups that are developing breakthrough technologies with strong intellectual property (IP).
Challenges Lead to Strategy Adjustments
Despite IRV’s initial setbacks with its first fund, Mario Venditti, CEO of Innovobot, remains optimistic about the firm’s trajectory. He explained that by late 2023, it became clear that a $40-million fund was no longer feasible. However, this realization did not slow the firm down; rather, it led to a shift in focus and the strategic reorganization of the management team.
The changes included the departure of Zoya Shchupak, the former managing partner, and Sylvain Carle, who transitioned to a new role. These adjustments laid the groundwork for Khera’s appointment as managing partner, marking the start of a new era for IRV.
Focusing on Deep Tech and Fast-Growing Startups
With Neha Khera steering the ship, IRV’s renewed strategy is all about deep-tech investments—companies that require significant advancements in science or engineering. Khera believes that deep-tech will be where the next big wave of opportunity arises, as the business-to-business SaaS space becomes more saturated.
As Khera aptly put it, “The next big wave of opportunity is going to come from deep tech,” and Innovobot plans to be at the forefront of this revolution. The firm intends to back startups across Canada, with a particular emphasis on those that intersect with industries like supply chain, healthcare, and energy.
Raising Capital and Growing the Portfolio
While the firm is currently focused on deploying the remainder of its first fund, Khera is determined to expand the firm’s portfolio with more time-intensive deep-tech startups, as well as faster-growing software firms. To support this ambitious agenda, IRV is hiring for key roles, including an associate based in Montréal.
The firm’s current portfolio already includes promising companies like CarbiCrete, a cleantech startup focusing on decarbonized concrete.
Looking ahead, Khera expects the firm to close the first fund by December 2025, with plans to secure additional capital from new limited partners (LPs) to fuel future investments.
Looking to the Future: A Deep-Tech Powerhouse
Under Khera’s leadership, Innovobot Resonance Ventures aims to establish itself as a platform for early-stage investment in technology. With a strong leadership team, a refined investment strategy, and a focus on deep-tech innovation, IRV is primed to make significant strides in Canada’s tech ecosystem.
As Khera continues to shape the future of the firm, Innovobot Resonance Ventures is positioning itself as a key player in the deep-tech space, ready to transform the way venture capital supports innovative startups across Canada.
Stay tuned to Maple News Wire for more updates on Innovobot Resonance Ventures and the deep-tech revolution in Canada’s startup ecosystem!
