Ajinkya Rahane bets big on AI and agritech as he ups his investor game

Ajinkya Rahane

Years of fearless cricket has made Ajinkya Rahane bolder when it comes to bets in the startup world as he explores emerging businesses in new age sectors.

"I am interested in AI and the energy sector. The talks are going on about AI investment," Rahane, Indian cricketer and captain of the KKR franchise for the 2025 edition of IPL told Moneycontrol during a conversation, sharing his journey in startup investing that started seven years ago.

"I have come a long way in terms of my startup portfolio which started with Hudle and MeraKisan. I have learnt a lot. The currently active companies where I have invested in include Hudle, Krushak Mitra, Oatey, Proxgy, GenePath Diagnostics," Rahane told Moneycontrol, as he looks to expand his portfolio in 2025.

One of his latest investments was Proxgy, an Internet of Things (IoT) startup that appeared on the reality show Shark Tank India. The cricketer was part of a clutch of investors in the startup's $3 million Series A funding round.

"I would say it's good (startup portfolio). When we started, with Huddle and also Mera Kisan. So along the way, we learnt a lot. There are few other startups with which the talks are still on. It takes time to evaluate and meet all these people," he said.

"Some startup investments will take like a month or two. Some might take seven, eight months. We will probably add one or two or maybe more than that in the startup portfolio. It is all about matching wavelengths. That is important to us," Rahane said.

During 2023, Rahane not only put his money in dairy alternatives startup OATEY, but he also became the brand ambassador of the startup.

Love for Agri-tech

Passionate about the agriculture-technology space, the all format cricketer had joined hands with the Mahratta Chamber of Commerce Industries and Agriculture (MCCIA) in Pune in 2022 to start a seed fund of Rs 1 crore for agri-tech startups.

"My journey as an investor started from 2018-2019 and along the way, there were many opportunities in the agriculture and technology space. I am passionate about agriculture. My investments in the agriculture space, it's not from a business point of view. It is about making an impact and about how I can help the farmers," Rahane added.

Cricket and Beyond

Rahane is also spending time and effort on developing a top-class cricket setup. "Work is in progress and people will get to know more about the academy or the setup very soon. The work has begun. It is always about how I can give it back to cricket or sports. And that I can do by providing a great facility to all the youngsters. Also, mental health is really important. I personally follow the Vedanta philosophy, which really helped me a lot. I have been following that since 2013. If I can just get that into my sports setup and try to help people and students. It's not only for the players or the sports people. It can also help others as well," he said.

Rahane has an active cricketing career, and he credits friends and institutions like MCCIA that have helped him juggle between being on-field and off-field priorities.

"I am focused completely on playing cricket. Other things are secondary. But I am not playing cricket for 24 hours. So, whenever I have time, whenever I am travelling, on a flight or in a hotel when there are no matches for like 10-15 days or for a month, I spend time reading about new startups and businesses. I discussed it with my business partner, Akhil (Ranade)."

Ranade is a sports marketing professional who started his career with the sports marketing divisions of advertising giants O&M and DDB Mudra, and has worked at IMG’s sports consulting division.

With MCCIA’s help, Rahane has backed agri-tech startup such as Krishak Mitra, a platform for weather information tailored to a farmer’s location, or another one that helps farmers maintain a ledger of their financial transactions. "My focus is completely on playing cricket. But I like to keep myself busy," Rahane said.

But there were times when Rahane questioned his decision to become an investor.

"Initially, for me and Akhil it was really a difficult journey. There were times when we were thinking why did we do this (enter the startup space or why did this happen? But then the answer was that we were passionate about it. It's not always about the returns, the success. That will happen, eventually. Startup business, the (success) ratio is less but as long as we are passionate about that sector, and add value to that particular sector, we are happy about it," the batter said.

Cricketing and Startup Lessons

The funding crunch that domestic startups faced during recent years did shake Rahane’s faith.

"I did read about startups seeing a funding winter. Some of the companies I had invested in also faced this challenge. So, I was quite aware of the situation. But when I started out, my financial advisors had informed me that there will be phases in the ecosystem where funding will be very hard to get. So, they told me to be prepared mentally. Of course, you do want your investment to do well, but just like on the cricket field, I always feel that all the decisions will not be successful. So, one has to be ready for that. I feel as investors we can back the right founder and teams who can handle tough situations and do not bail out during the tough times," Rahane said.

The on-field learnings have been helping him out to make the right decisions as an investor, the Rahane said. "Cricket is helping me a lot in this start-up journey like trusting founders as I trust my partners on the field."

Rahane’s admits there are times when investors can end up giving too many inputs. "…as a captain, as a leader of the team, you know what inputs to take and what not to. So, as an investor I am just trying to take the back seat. Firstly, build that relationship with the founders, give them that freedom, get to know their product and how passionate and loyal they are," he added.

One of Rahane's memorable wins as a captain was when he led his team for the final three matches of India's tour of Australia, in place of Virat Kohli who returned on paternity leave. India, during that tournament, handed Australia their first Test defeat at the Gabba stadium, with Rahane contributing the most to his team's win.

He is also the new captain of the Indian Premier League (IPL) franchise Kolkata Knight Riders for the 18th edition, which will be played from March 22 this year.

While Rahane shies away from giving tips to young entrepreneurs or first-time investors, he draws lessons from the cricketing field to shape his investing philosophy. "What I can say with my experience is pick teams or companies who are honest and committed towards the company's growth, and not just the founders' growth."

For sportspersons, his one advice is to diversify. "It is important to have an open mind. While the main revenue comes from sports, it is important to have an open mind. For me, it was always about what are the important things I can do in the start-up business. I have other investments in different sectors. So, it's important to have that diversity in your portfolio, in your investments," Rahane said.