Vision Thesis Portfolio Team Ping Us
Gurugram, India · Est. 2021

It's spring time
in India.

"You can cut all the flowers but you cannot keep spring from coming." — Pablo Neruda

Full Stack Capital has invested in some of the most exciting founders and startups. Finding founders before others do is our IP — we want to be the first believers, across 62+ companies making dents in their markets and the world.

5Years
62Investments
4Incubations
Investing at inception
A billion citizens
on the internet.
We get it.

Cheapest data in the world. Mobile-only. AI everywhere. 6G round the corner. Building India into a superpower, from Bharat up.

→ Ping Us
Thesis

Internet of
Bharat

A billion citizens online. Cheapest data rates in the world. Not just mobile-first — mobile-only. AI is everywhere. We have been building our thesis travelling across Bharat for over 10 years via Digital Desh.

50% of our focus is 'inception' — distilling white spaces, ensuring FMF, and helping future founders reach PMF.

i.
Build for/from Bharat

India Stack, citizen services, local markets. Global potential rooted in Bharat.

ii.
Digitally Distributed

Products sold online have an unfair edge in building deep customer engagement.

iii.
AI of Everything

AI is the new layer beneath every product and service. We back founders building with it at the core.

iv.
Deep Tech

Most of us are deep tech founders with formal degrees in AI/ML. We still code.

India Stack
Citizen Services
Indian Aesthetics
Micro Businesses
Open Source
Quick Commerce
AI of Everything
Senior Tech
Defence DeepTech
AI
"We follow the tailwinds. We have been building our thesis across Bharat for over ten years."
Portfolio

The Companies.
Across every channel.

Direct, personal, syndicates, co-investments, inbound, outbound — whatever it takes.

Deep Tech & AI
Visvakarn Incubated Dubverse → Exotel
Exited
Printo Exited Nucleon Health Exited Onco Exited Patch → CleverTap Verak → InsuranceDekho Fitso → Zomato → Cult.Fit Graphy → Unacademy KwH Bikes Return of Capital FrontRow Return of Capital Sharang Shakti → LAT Aerospace
Team

Built on a singular
conviction.

To identify, back and assist exceptional founders from their earliest days. We are your first call — and in your corner, always.

Jasminder
Singh Gulati
Founder & Managing Partner
Arnuv
Joshi
Investment Lead

Let's do this.
Spring awaits.

Been a founder before? Ping us — you're 75% there.
Want to be a founder? Come with your team, product, deck, and business model.

→ Ping Us