Mettle Capital and Peak XV Partners have jointly invested $20 million in AI startup Empirical Machines, which is valued at roughly $80 million. Founded by former OpenAI researcher Shyamal Hitesh Anadkat, the company focuses on using AI to speed up research in chemical compounds. This deal marks the first investment for Mettle Capital, a firm launched by former Peak XV partners earlier this year.
Artificial intelligence startup Empirical Machines has secured $20 million in funding, with participation from venture capital firms Mettle Capital and Peak XV Partners. The funding values the startup at approximately $80 million. This investment round is the maiden deal for Mettle Capital, which was established in May 2026 by Ashish Agrawal, Ishaan Mittal, and Tejeshwi Sharma.
Business Focus on Scientific Discovery
Empirical Machines aims to apply artificial intelligence to accelerate scientific research, specifically within the chemical compound sector. The startup is led by founder Shyamal Hitesh Anadkat, a former researcher at OpenAI who returned to India after four years in the United States. The company is working to connect theoretical AI modeling with practical, real-world utility, moving beyond the simple AI applications often seen in early-stage startups. Investors are paying close attention to companies that demonstrate clear industrial use cases for their technology.
Professional Reconnection
The co-investment is notable because the founders of Mettle Capital are former partners at Peak XV Partners. Their departure from Peak XV earlier this year followed public friction regarding internal investment economics and carried interest payouts. By working together on this funding round, both the Mettle Capital founders and Peak XV have shown a professional alignment, effectively moving past their previous disagreements. For the startup, the support from these two established venture firms may provide access to a deeper network of resources and industry expertise.
Growing Momentum in Indian AI
The deal reflects a broader change in the Indian artificial intelligence sector. After a phase where investors were cautious about separating genuine technology from superficial products, capital is now flowing with more confidence into startups that address specific, complex problems. The recent increase in larger ticket sizes for AI companies suggests that the local market is maturing. Investors are now looking for startups with tangible technological advantages rather than just basic software wrappers, marking a shift toward more robust, applied AI business models in the domestic ecosystem.