A battery has little use for a persuasive pitch deck. It must hold its charge, survive heat and work when a customer needs it. In August 2026, Avinya Ventures co-led an ₹8.3 crore seed round in Adiabatic Technologies, a maker of custom battery packs, chargers and battery-management systems. The proposition was refreshingly tangible: help an engineering business manufacture more of something customers already use.
Adiabatic said it had deployed more than 20,000 battery systems across over 25 original equipment manufacturers. The new capital would support engineering, product development and expansion toward 100 MWh of annual manufacturing capacity. Those are the company’s reported deployments and intended capacity, respectively. The funding announcement puts Avinya beside co-lead Malpani Ventures and several other investors, backing an industrial supplier with applications from drones to electric mobility.
That deal supplies a useful entrance to Avinya, a Surat-based venture firm whose pitch combines startup finance with access to a community of founders and investors. Its defining question is whether the people around a company can make the money inside it work harder. Battery engineering is one place to test the idea. Selling software, finding customers and preparing another fundraise are others.
Total Adiabatic seed round, co-led by Avinya and Malpani Ventures.
A venture fund with an angel-network upbringing
Avinya’s own chronology places its arrival in 2023. The organisation behind it, We Founder Circle, began in 2020, followed by EvolveX Accelerator in 2021 and additional investment platforms in 2022. The sequence matters: the fund emerged after the network had already started bringing entrepreneurs and private investors together. Its launch was reported in July 2023.
Avinya’s website describes We Founder Circle as its sponsor. That gives the fund an identifiable route to introductions, referrals and prospective co-investors. It also creates a distinction readers should keep straight: the wider community’s history spans multiple organisations. A company supported by the angel network is not automatically evidence of an investment made by this particular fund.
Managing partner and CEO Gaurav VK Singhvi is the visible link between those worlds. A chartered accountant with an investment-banking background, he co-founded We Founder Circle. Avinya’s current team page also lists Vikas Aggarwal as a co-founder, with associates Raghav Malpani and Simran Barbaria. Institutional profiles identify Neeraj Tyagi and Bhawna Bhatnagar as co-founders, reflecting the firm’s roots in the broader WFC group.
The first cheque followed the customer
One early announcement makes the strategy less abstract. Avinya called its investment in devx commerce its first investment, praising founders Brijesh Agarwal and Pushpal Maheshwari. In the company’s announcement, it said devx had reached $1 million in annual recurring revenue within 18 months. That was a reported revenue milestone for the startup, not revenue earned by Avinya.
The appeal is easy to follow. An enterprise-commerce business needs to turn technical capability into something brands will repeatedly pay for. Avinya highlighted the founders’ attention to customers and user experience. Its stated selection criteria ask for domain knowledge, execution ability, integrity, market acceptance and a differentiated product. The investment and the checklist point in the same direction: explain why this team understands a problem, then show that a buyer cares.
For a founder, there is a useful discipline here. A large market slide may establish possibility; customer evidence establishes contact with reality. The devx announcement gives that evidence a number. It does not prove the fund’s eventual return, but it tells an applicant something about the kind of progress Avinya chooses to celebrate.
Put a name against the promise of support
The most practical part of Avinya’s offer is buried in its frequently asked questions. Each portfolio company, it says, receives a dedicated investment manager, with concentrated support during the first 18 to 24 months. It describes individual mentoring, tailored business support and quarterly catch-ups. That is a more assessable commitment than a general promise to be helpful.
Its other proposed tools include exhibition opportunities, introductions, cross-selling within the community and organised investor outreach before future funding rounds. The firm says it reserves a significant portion of capital for follow-on investments. Founders can therefore ask concrete questions: who owns the relationship, what happens at the next review, and which commercial or financing milestone needs attention first?
Work on the business
A named investment manager, mentoring and quarterly reviews.
Open useful doors
Customer introductions, portfolio collaboration and industry forums.
Prepare the next raise
Funding plans, investor outreach and potential follow-on capital.
The team’s published approach also names product-market fit, sales, marketing and hiring as areas of work. Its advisers span education, healthcare, finance and technology. That range fits a fund which invests across sectors. It makes the usefulness of each individual connection especially important: a general network becomes valuable when someone in it understands the particular customer, procurement process or technical obstacle.
Batteries, browser windows and building materials
Avinya calls itself sector-agnostic, and its published portfolio makes the phrase unusually literal. Alongside software and electric delivery, it lists lab-grown diamond jewellery, recycled foam, construction materials and regenerative medicine. Examples include Ivana Jewels, Sarva Foam, Green Banana, Pandorum Technologies and Zypp Electric. These businesses have very different routes from an idea to a paying customer.
What connects them is less a single technology than the search for a commercially useful advantage. A materials producer must prove its product in demanding applications. A jewellery company needs distribution and customer trust. A software supplier needs recurring usage. This is an interpretation of the portfolio’s breadth, rather than a claim that every holding has already cleared those hurdles.
Ctruh supplies a second recent deal to examine. In April 2026, it announced a $2.5 million seed round, bringing its total capital raised to $4.5 million. Inflection Point Ventures led; Ctruh identified Avinya as co-lead. The business builds browser-based 3D and extended-reality technology, with funding intended for research, product work and expansion into the United States and UAE. Ctruh’s announcement and the funding report describe that next stage.
Avinya has also published a battery-investment perspective that discusses safety, thermal stability, charge and discharge performance, and longevity. Read beside the Adiabatic investment, the battery essay shows a theme moving from public research to an actual transaction. It is a useful connection, although an investment thesis still has to survive factory output, customer orders and operating costs.
Count the round, then ask whose money it is
The numbers deserve careful handling. Adiabatic’s ₹8.3 crore and Ctruh’s $2.5 million describe whole financing rounds involving several backers. Neither figure should be presented as Avinya’s individual investment. Similarly, devx’s recurring revenue belongs to an operating company. Mixing those numbers would make a young fund look larger without telling readers anything useful about its economics.
Avinya works on the investor side of the startup market: it deploys capital and helps portfolio companies develop, with investment outcomes tied to the businesses it backs. Its investor audience includes wealthy individuals; its founder audience spans early-stage ventures and companies seeking later financing. In June 2025, VCCircle reported a domestic limited partner joining its maiden fund. A limited partner supplies fund capital, distinct from a startup receiving it.
For founders, the relevant cost of an equity-backed funding arrangement is the ownership and rights negotiated alongside the money. For fund investors, the relevant economics sit in the vehicle’s fees, distribution terms and eventual realisations. A network can help find opportunities and introductions. It cannot make an acquisition happen on schedule or turn a prospective buyer into cash in the bank.
Start with one city. Earn the next.
Singhvi’s most copyable advice is geographic. In a June 2024 conversation with Dhruti Shah, he argued for solving a business problem in one place before expanding. His example began in Surat, then moved toward nearby cities. The constraint was not merely money: founders also spend time, attention and energy when they open another territory.
“Apart from resources, you burn out on your time also, your energy also.”
Gaurav VK Singhvi, in conversation with Dhruti Shah
He also recalled Zypp’s pandemic-era disruption and subsequent move toward delivery services. That was a lesson drawn from his investing experience, predating Avinya’s launch. The useful distinction is between commitment to a customer problem and attachment to the first business model. In his account, circumstances forced the company to change the way it served its market.
The single-city approach is especially persuasive for operations that need local staff, vehicles or hands-on service. Its limits are equally practical: a business whose buyers are distributed internationally, or whose economics depend on a network spanning locations, may need a different sequence. The transferable habit is to establish what works before repeating the expense.
The crowd still has to be useful
Avinya’s regional ambitions have a physical expression. Its Startup Mixer 2.0 in Surat, held in association with SIDBI, brought together founders, investors, pitch sessions and discussions about growth. The event’s account described a focus on entrepreneurs in smaller cities. A network becomes more tangible when people can walk into a room and explain what they are building.
Avinya occupies the space between an angel community and a venture fund that wants to stay involved as companies develop. Inflection Point Ventures illustrates how close collaborators and alternatives can sit: it shares the Ctruh round with Avinya. A founder choosing capital should compare the actual people, relevant experience and proposed terms, alongside the fund’s name.
Applicants can start at Avinya’s pitch page, which says completing its form is mandatory to begin evaluation. The sensible preparation follows the firm’s own criteria: explain the problem, the team’s experience, evidence of demand and the next milestone the money would buy. Then identify the introduction or operating help that could make a difference. Avinya’s proposition becomes compelling at that level of specificity: a cheque, a named person and a useful next step.