Xora Innovation
About Xora Innovation
Xora Innovation is an investment platform that specializes in early-stage deep tech venture investments to accelerate the path to market. The firm primarily targets investments in three key sectors: computing & communications, climate & energy, and AI in physical industries. While Xora Innovation invests in seed to late-stage companies, it emphasizes opportunities in Asia and North America, particularly in energy, renewable energy, and biotechnology. Per Crunchbase, Xora Innovation has made 44 investments, 21 as lead investor across 27 portfolio companies, with 1 exits.
Xora Innovation is a wholly owned subsidiary of Temasek, Singapore's state investment company. Sources give different founding years. Most place it at 2019, and PitchBook says 2020. The firm does not publish a founder list. Phil Inagaki is Managing Partner and Chief Investment Officer. On 8 April 2026 Xora named Eric Rosenblum General Partner, based in Silicon Valley, to expand its U.S. presence and its AI investing. In 2023 Temasek, through Xora, committed most of S$65 million toward a S$75 million program with NTU Singapore and NUS to build deep tech ventures from university research.
Xora now describes its focus as three areas: AI Infrastructure, Applied AI and Deep Tech. It says it will engage before a company is formed if the market thesis is strong, and it also builds startups with founders. Its AI work leans toward hardware and compute. Upscale AI, which builds AI networking, raised a $200M Series A in January 2026 led by Tiger Global, Premji Invest and Xora. Celestial AI, an optical interconnect developer, was acquired by Marvell Technology. Xora's April 2026 release also names Bedrock Robotics, Rhoda AI, Amperesand and Vinci as recent investments. The Lounge deals desk lists Vinci (Series B, $250M), Nexstrom (Seed, $12M) and Hang Ten Systems (Seed, $53M) as led rounds. We could not confirm the Nexstrom and Hang Ten Systems rounds in outside sources.
Xora says it usually leads or co-leads Seed and Series A rounds. It takes part in later rounds through Temasek. It says it is not limited by geography, but it favors opportunities linked to Singapore's science and technology ecosystem. Xora does not publish a check size range or a fund size. Because it invests with Temasek capital, we found no public fund vehicles or fund sizes.
- Upscale AI: AI networking infrastructure (silicon, systems and software). $200M Series A in January 2026, co-led by Xora.
- Celestial AI: optical interconnect technology for AI infrastructure. Acquired by Marvell Technology.
- Bedrock Robotics: named by Xora as a recent investment.
- Rhoda AI: named by Xora as a recent investment.
- Vinci: named by Xora as a recent investment. The Lounge deals desk lists a $250M Series B.
- NeuBird: Caplight lists an April 2026 round led by Xora.
- xora.vc/xora-appoints-eric-rosenblum-as-general-partner-to-expand-u-s-
- temasek.com.sg/en/news-and-resources/news-room/news/2023/NTU-NUS-Temas
- finsmes.com/2026/01/upscale-ai-raises-200m-in-series-a-funding.html
- apply.workable.com/xora-innovation/j/1E4065F116
- venturecapitalcareers.com/companies/xora-innovation
- tracxn.com/d/venture-capital/xora-innovation/__KEm6RhprnogvvzDZJ_5rE7l
- pitchbook.com/profiles/investor/434599-48
- caplight.com/investor/xora-innovation
Investing activity
Xora Innovation has made 44 investments according to Crunchbase across 27 portfolio companies, and has led 21 rounds and seen 1 exit.
Xora Innovation appears in 4 AI deals tracked by the AI Lounge deals desk, rounds totalling $515M, and led 4 of them. The rounds are mostly Seed, Series B and Series A, with a median round size of $200M and the largest at $250M. The most recent are Vinci (Series B, $250M, Oct 2026), Nexstrom (Seed, $12M, Sep 2026) and Hang Ten Systems (Seed, $53M, Sep 2026).
Xora Innovation most often invests alongside Advent International, Temasek, Madrona and Khosla Ventures, and the companies it backs on AI Lounge are mostly in AI, AI for hardware engineering / EDA and AI networking.
Deals
Frequently asked questions about Xora Innovation
Who owns Xora Innovation?
Xora is a wholly owned subsidiary of Temasek, Singapore's state investment company. It invests Temasek capital, and we found no public outside fund sizes.
What stage does Xora Innovation invest in for AI startups?
Xora says it typically leads or co-leads Seed and Series A rounds. It also joins later rounds through Temasek. It is willing to engage before a company is formed.
What is Xora Innovation's check size?
Xora does not publish a check size range. Treat any figure you see on aggregator sites as unconfirmed.
Who leads AI investing at Xora Innovation?
Phil Inagaki is Managing Partner and CIO. Eric Rosenblum joined as General Partner in April 2026 to deepen AI investments from Silicon Valley.
What AI companies are in the Xora Innovation portfolio?
Upscale AI, Celestial AI (acquired by Marvell), Bedrock Robotics, Rhoda AI and Vinci are named by Xora or in press coverage. Xora also backs non-AI deep tech such as energy.
What AI companies has Xora Innovation invested in?
Xora Innovation's AI investments include Vinci, Nexstrom, Hang Ten Systems and Upscale AI. The 4 rounds on AI Lounge are listed on this page with amounts, dates and co-investors.
Where is Xora Innovation based?
Xora Innovation is based in Singapore, Central Region, Singapore.
What stage does Xora Innovation invest at?
In the rounds tracked on AI Lounge, Xora Innovation has invested at Seed, Series B and Series A, with a median round of $200M. Xora Innovation led 4 of those rounds.
Who does Xora Innovation co-invest with?
Xora Innovation's most frequent co-investors on AI Lounge are Advent International (1 deal), Temasek (1 deal), Madrona (1 deal), Khosla Ventures (1 deal) and Eclipse (1 deal).
How can founders reach Xora Innovation?
Founders on AI Lounge can see Xora Innovation's contact details in AI Investor Contacts (paid plans), check for a warm introduction through members who worked with the firm under Warm Paths, and add Xora Innovation to their Investor Pipeline to track the conversation.