Within weeks of announcing his exit as executive chairman of the global software-as-a-service (SaaS) company Freshworks, its founder Girish Mathrubootham appears to be on an investment spree.

Photograph via Meta

On Wednesday, he invested in Baanhem Ventures, which created Tamil Nadu’s first mainstream startup reality show, Startup Singam.

This is the second investment by Mathrubootham or his new venture in the last two days following his announcement to step down as chairman of Freshworks earlier this month, a move effective from December 1 to devote his time to Together Fund, a venture fund he cofounded.

On Tuesday, Rocket, the artificial intelligence (AI)-powered application (app)-building platform that transforms natural language into production-ready apps, announced a $15 million seed funding round led by Salesforce Ventures and Accel, with participation from Together Fund.

Startup Singam has created an unprecedented wave in Tamil Nadu’s entrepreneurial landscape by offering funding commitments of over Rs 140 crore to 110 companies across two seasons.

Mathrubootham’s investment is part of the second round of funding by Baanhem, bringing him alongside other investors such as TVS Capital Funds chairman and managing director Gopal Srinivasan, CaratLane founder Mithun Sacheti, TSM Group of Companies partner K Mahalingam, and IppoPay cofounder and chief executive officer Mohan Karuppiah, among others.

Kumar Vembu, cofounder of Zoho Corporation and founder of GoFrugal Technologies, is already a shareholder and chief mentor of Baanhem.

“Tamil Nadu’s entrepreneurial potential is vast, spanning vibrant urban hubs to burgeoning rural communities.

“Partnering Baanhem and Startup Singam enables me to contribute to nurturing the next generation of startups by providing mentorship, networks, and the resources necessary to fuel India’s innovation and growth story,” said Mathrubootham.

The state’s first mainstream startup reality show has redefined how early-stage founders connect with investors, mentors, and markets.

Founded by Hemachandran L and Balachandar R, Baanhem combines investment, mentorship, and storytelling to create a powerful launchpad for entrepreneurs.

“This is a transformative moment for Baanhem and Tamil Nadu’s startup ecosystem.

“The guidance and support of such visionary leaders will accelerate our mission of enabling startups not only with investment but also with governance, mentorship, and networks through the Startup Singam platform,” the founders said.

During the first season, 35 startups secured over Rs 40 crore in funding commitments, with 15 already receiving funds adding up to Rs 13 crore.

In Season 2, it raised the bar with Rs 100 crore in fresh investor commitments for 75 startups selected from over 2,000 nationwide applications.

Meanwhile, the other startup funded by Mathrubootham’s Together Fund is tackling the growing complexity of building apps that drive business forward in the AI era.

While most AI tools stop at generating snippets of code or static mockups, Rocket enables anyone to go from idea to fully functional, multi-page, production-ready applications in minutes.

From dashboards to internal tools to consumer apps, the platform delivers solutions that can be launched, scaled, and integrated seamlessly.

Since its launch, the Surat-based startup has reported over 400,000 users across 180 countries, with the US leading early adoption.

Together Fund focuses on early-stage AI startups, typically writing initial checks of $1–10 million at seed and Series A stages.

It claims to make only eight to 10 investments annually to ensure meaningful support for each portfolio company.

Mathrubootham, a pioneer of the Indian SaaS ecosystem, helmed Freshworks since its inception in 2010 and led its initial public offering in 2021.

Freshworks’ board has already appointed Roxanne Austin, lead independent director, to serve as its chairperson starting December 1.