Portfolio of 21 companies drives strong income growth across India 2 and India 3: 75% for farmers, 93% for artisans, and 25% for street vendors.
Announces fresh investments totaling INR 20.76 Crore across healthcare, mobility, agriculture, and the informal economy.
Launches second fund backed by top-tier Japanese institutional LPs, anchored by Suzuki Motor Corporation.
BENGALURU, India — August 28, 2026 — Next Bharat Ventures (NBV), a pioneering impact-first fund backed by Japanese capital, today unveiled its landmark Impact Report 2026. The comprehensive report demonstrates how scalable enterprises serving India’s “Next Billion” across the rural and informal economies can deliver profound, measurable social impact while building robust, commercially viable businesses.
To date, Next Bharat Ventures’ portfolio of 21 companies has directly reached approximately 2,00,00,000 (2 million) individuals. The report reveals strong commercial momentum paired with tangible community gains, with ~80% of portfolio startups already on a clear path to profitability.
Strategic Capital Deployment and Portfolio Expansion
Demonstrating its commitment to a Y Combinator-inspired ecosystem for impact-driven entrepreneurship, NBV announced fresh seed funding commitments totaling INR 20.76 Crore. The investments span crucial sectors including healthcare, green mobility, agricultural tech, and informal market efficiency:
- Blackfrog Technologies (INR 9.00 Cr): Developers of Emvólio, India’s first patented, WHO-PQS prequalified active-cooled vaccine carrier for last-mile medical delivery in off-grid regions. The platform has served over 251,000 beneficiaries across India and expanded into African markets.
- eBik (INR 7.50 Cr — Cohort 3): Provider of tailored electric mobility solutions (e-cycles and e-karts) for gig workers, hawkers, and delivery agents, currently benefitting 6,000 workers.
- CIBOS (INR 2.00 Cr — Cohort 3): Innovators delivering solar-powered clean cooking technology designed specifically for street food vendors.
- Velaan Mart (INR 1.26 Cr — Cohort 3): An agritech platform directly connecting smallholder farmers with institutional agricultural buyers.
- SGB Agro (INR 1.00 Cr — Cohort 3): Manufacturers of low-vibration farm equipment engineered to drastically reduce manual labor.
Empowering “India 2” and “India 3”
Next Bharat Ventures strategically targets India 2 (the urban informal economy, including gig workers, street vendors, and waste pickers) and India 3 (the rural, livelihood-led economy of farmers and artisans).
- Informal Economy (India 2): 5 portfolio startups have reached 1,470,610 lives, generating reliable income growth and operational stability.
- Rural Livelihoods (India 3): 16 startups have impacted 498,797 lives while generating a remarkable 186.13% cumulative revenue growth.
The fund’s cross-sectoral performance highlights significant momentum:
Sector | Revenue Growth (%) | Beneficiaries Reached | Key Livelihood Outcome |
Agriculture | 246.66% | 214,000+ | Farmer income up 75% YoY |
Healthcare, Education & Accessibility | 60.00% | 1,715,372 | Expanded essential service access |
Arts, Crafts & Livelihoods | 24.72% | 39,795 | Artisan income up 93% YoY |
High-Impact Portfolio Success Stories
The Impact Report highlights remarkable growth trajectories among individual portfolio enterprises:
- Graduate Farmer: The poultry farming startup recorded an 8x revenue expansion, raising average monthly farmer incomes from INR 15,000 to INR 25,000.
- Manikstu: Building a tech-enabled goat farming ecosystem in Odisha, Manikstu scaled revenues 5x, reaching 25,000 farmers and increasing their annual incomes from INR 40,000 to INR 1,50,000.
- Kadam Haat: By training rural artisans to craft eco-conscious lifestyle goods from wild grass, the venture grew its artisan network from 400 to 6,500, increasing average annual earnings from INR 7,000 to INR 55,000.
- MeMeraki: The heritage artisanal marketplace expanded to 400 traditional artists, boosting monthly artisan earnings from INR 25,000 to INR 32,000.
- Haqdarshak & Atypical Advantage: Haqdarshak unlocked government welfare scheme access for 4 million informal workers, while Atypical Advantage secured dignified livelihood opportunities for 5,000 Persons with Disabilities (PwDs).
Vision for the Future: Fund II and Deepening Japanese Partnerships
To double down on its thesis, Next Bharat Ventures is deploying its second dedicated vehicle—a INR 2,000 Crore Fund anchored by Suzuki Motor Corporation and supported by 5 prominent Japanese institutional Limited Partners (LPs). Fund II will focus heavily on seed and early-stage investments leveraging Artificial Intelligence (AI) for social good and solving complex last-mile healthcare access challenges.
“Impacting 2 million lives is an important milestone, but our ambition is to scale that impact exponentially. With Fund II, we are backing businesses that dramatically improve livelihoods across India’s Next Billion. We have deliberately chosen LPs like Suzuki who take a patient, long-term view of capital. Going forward, we will lean into deep tech and AI applications that bridge structural last-mile gaps.”
Vipul Nath Jindal, Founder & CEO, Next Bharat Ventures
“India’s next phase of growth depends on unlocking the economic potential of the country’s next billion people. Next Bharat Ventures plays a crucial role by moving beyond metropolitan centers to support entrepreneurs across India 2 and India 3. By helping these enterprises scale, NBV contributes to a growth model that is inclusive and deeply rooted nationwide.”
Amitabh Kant, Former CEO, NITI Aayog
“Our support continues as Next Bharat Ventures launches Fund II. We believe India’s next wave of economic expansion will come from impact-driven entrepreneurs solving real community challenges. Our ongoing partnership reflects Suzuki’s deep commitment to building a sustainable ecosystem capable of delivering long-term societal value.”
Fujitani Masao, Executive General Manager (New Business), Suzuki Motor Corp
By aligning enterprise profitability with social upliftment, Next Bharat Ventures proves that solving core societal problems in India 2 and India 3 isn’t just impactful—it is the very engine driving commercial growth and sustainable enterprise value.
About Next Bharat Ventures
Next Bharat Ventures (NBV) is an impact-first venture capital firm dedicated to backing early-stage entrepreneurs building scalable, commercially viable solutions for India’s underserved populations across rural and informal markets.
