Novyte Materials, an AI material discovery company, has raised ₹4.15 crore in a pre-seed funding round led by Theia Ventures, an early-stage fund focused on AI, deeptech, energy transition, and decarbonization.
This round also saw participation from Sandesh Paturi (Co-Founder, Venwiz) and Niharika Jain (Director, Chemvera) investors.
The fresh funds raised will be used to support its AI platform development and early pilots to accelerate the co-creation and collaborative discovery of new materials.
Founded in 2025 by Ajaz Khan and Ayesha Khan, Novyte Materials is building an AI-powered platform aimed at making materials engineering more predictable.
The company aims to reduce operational and R&D costs, shorten development timelines, and accelerate material discovery while ensuring that validation and scale are more predictable. The goal is to make the journey from lab to commercialisation seamless and achievable. The company is currently inviting collaborations and strategic partnerships.
Its generative AI system designs, validates, and reverse engineers novel materials using physics-based simulations, supporting applications across composite materials, aerospace, advanced manufacturing and specialty chemicals.
Novyte works with sectors such as specialty chemicals, polymers, paints, coatings, aerospace, advanced manufacturing and composite materials.
Novyte will initially partner with specialty chemicals industries, polymers, paints, adhesives, and coatings that are advancing in their journey to identify alternative materials with improved features and performance.
Novyte is incubated at ICT-NICE, the innovation and entrepreneurship hub of the Institute of Chemical Technology, Mumbai, and works closely with ICT’s research ecosystem while building its own dedicated R&D infrastructure, and synthesis lab.
Ajaz Khan, Founder & CEO – Novyte Materials, said, “Innovation is currently capped by the physical limits of yesterday’s materials. Novyte removes that ceiling. By decoding complex chemical interactions with AI, we are turning the search for new materials into a predictable, scalable engineering process.”
Priya Shah, Founder & GP – Theia Ventures, said, “As AI becomes foundational infrastructure for every industry, Novyte is bringing that transformation to materials discovery. Their system replaces years of lab work with intelligent AI-led design and real-time validation. We believe this will accelerate innovation across energy, aerospace, and advanced manufacturing.”
This is Theia Ventures’ fourth investment from its new fund, which announced its first close anchored by British International Investment in October 2025. The fund counts Sarla Aviation (an electric aircraft company), Climitra Carbon (a biochar company catering to the steel industry) and Lemnisca (a bio-manufacturing company) as its first three investments, and the fund aims a few additional investments to be deployed within this financial year.
