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Mettle Capital Joins Peak XV to Co-Invest in AI Startup Empirical Machines
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Moneycontrol•16-10-2026, 21:51
Mettle Capital Joins Peak XV to Co-Invest in AI Startup Empirical Machines
- •Mettle Capital is teaming up with Peak XV Partners for its maiden investment, co-investing in AI startup Empirical Machines in a $20 million funding round.
- •Empirical Machines was founded by Shyamal Hitesh Anadkat, a former OpenAI researcher who spent nearly four years at the company working in Applied AI.
- •The deal brings Mettle Capital's founders together with their former firm Peak XV on the same cap table, less than eight months after their departure.
- •Empirical Machines focuses on accelerating scientific discovery with applications around chemical compounds and is valued at around $80 million.
- •Investor interest in Indian AI startups is gathering pace, with several companies raising substantial capital amid a shift in market sentiment.
Key Questions Answered
Empirical Machines is raising a $20 million round, which was upsized from its initial plans, while maintaining a valuation of around $80 million.
Empirical Machines was founded by Shyamal Hitesh Anadkat, a former OpenAI researcher who spent nearly four years at the company working in Applied AI before returning to India.
Mettle Capital was set up in May 2026 by its three founding partners—Ashish Agrawal, Ishaan Mittal, and Tejeshwi Sharma—following their departure from Peak XV.
