The $4.19 Tn Indian economy is expanding steadily at 6.8% to be the world’s third-largest with a projected GDP of $7.3 Tn by 2030. A shift in consumer behaviour and robust policy support from the government has transformed digital commerce as an emerging growth engine for the country, aiming to surpass the $400 Bn mark by the same year.

No wonder, investors are backing this growth by investing in early-stage consumer brands that are reshaping how the quintessential Indian consumer shops online.

While consumer startups continue to attract capital, deeptech ventures are often left in the lurch. But why? Building novel technologies requires long-term, patient capital from investors willing to support research-driven innovation.

Sustaining India’s growth story will require striking a balance between both ends of the spectrum. “Deeptech and consumer startups operate at very different rhythms, which is why we’ve maintained two distinct investment vehicles for each since the start,” said Archana Jahagirdar, founder and managing partner of Rukam Capital.

The venture capital firm has clearly differentiated its consumer investments from its long-term deeptech bets, recognising that the two demand entirely different timelines, strategies, and expectations.

Globally, GenAI funding has surged ahead of consumption-led investments. Capital inflows into AI ventures rose to $49.2 Bn in H1 2025, up from $44.2 Bn last year, with large language models (LLMs) and AI infrastructure startups capturing the lion’s share. In India, the AI market is projected to expand tenfold to $17 Bn by 2030, positioning it as a key frontier for innovation.

In this context, Jahagirdar spoke to Inc42 about Rukam Capital’s investment philosophy for 2026, the growing influence of AI, and why India needs to cultivate stronger domestic risk capital to sustain its growth story.

She also shared Rukam Capital’s long-term investment vision and how it balances consumer-focused ventures and technology-led bets.

Having backed mass market brands like Sleepy Owl, Upliance.ai, Burger Singh, Yoho, and Go Desi, Rukam Capital is now doubling down on its effort to balance the portfolio with long-term tech innovation.

Here are the edited excerpts from the interaction with the Rukam Capital chief:

Inc42: How is Rukam Capital’s investment philosophy evolving for 2026?

© Inc42