Investor brief — Series Seed
Sovereign RegTech infrastructure
A toll road for the capital India is already allowed to send abroad.
Every outbound rupee from an Indian corporate must be proved legal to five parties who each rebuild the same file. CorpVidesh AI builds that file once, proves it cryptographically, and lets the regulator read it while it forms. Twenty-eight days becomes nine minutes.
₹6–8k Cr
Annual value released
Capital that stops sitting idle when a 28-day clearance collapses to minutes.
1,000
Addressable treasuries
Listed and unlisted Indian companies by net worth running outbound programmes.
52
Live corridors
International finance hubs, each with its own treaty, route and reporting position.
6
Regulator endpoints
IFSCA, RBI, SEBI, MCA, CBDT and the AD-bank supervisory channel on one record.
Why now
Four things became true at once. None of them were true in 2019.
The rules were rewritten in 2022
The FEM (Overseas Investment) Rules, 2022 replaced a two-decade regime with a codified, machine-readable structure — ceilings, routes and reporting that can be expressed as deterministic code for the first time.
GIFT IFSC became a real perimeter
A single jurisdiction now hosts the regulators, the AD banks and the offshore vehicles. One place to pilot a supervised rail, with the supervisor physically in the room.
Models became auditable enough for law
Retrieval with provision-level citation, plus a deterministic rules engine holding the veto, is the first configuration a regulator will accept. The model drafts; it never decides.
Indian outbound stopped being occasional
Top-1,000 treasuries now run continuous overseas programmes — step-downs, top-ups, APR cycles. Recurring workflow, not a once-a-decade event. That is what makes it software.
The wedge
Start where the pain is measurable and the buyer signs alone.
The entry point is not a platform sale. It is one corridor — GIFT IFSC to Singapore — for one treasury that already knows how many weeks it loses per file and what its counsel invoice looks like.
The treasury signs without a regulatory change, because nothing about the rail asks for permission the law does not already grant. The AD bank joins because it receives a complete file instead of assembling one. The regulator joins last, and joins free.
Once the first supervisor reads a live ledger, every subsequent corridor is a configuration change, not a new sale.
Business model
Recurring
Rail subscription
Annual per-entity licence for the treasury console, scaled by group structure and corridor count.
Usage
Per-clearance fee
A fee on each cleared remittance file, priced against the counsel and bank-desk hours it removes.
Recurring
AD-bank desk seats
Seat licences for AD Category-I compliance desks that receive pre-validated bundles instead of raw folders.
Strategic
Supervisory node
Regulator-side deployment supplied at cost — distribution and defensibility, not a revenue line.
In plain words: the treasury pays to keep the rail, pays a little each time it uses it, and the bank pays for its desk. The regulator never pays — its presence is what makes the rail worth paying for.
Competitive matrix
Everyone else sells data or forms. Nobody else sells the determination.
Bloomberg and Reuters/LSEG are reference and screening businesses — they tell you who a counterparty is. They do not tell you whether Rule 7 permits the remittance, and they cannot prove it to a supervisor.
| Capability | CorpVidesh AI | Bloomberg | Reuters / LSEG | Global RegTech | AD-bank portals | India SaaS |
|---|---|---|---|---|---|---|
| FEMA / ODI-OPI statutory reasoning with citation | Native | Absent | Absent | Absent | Absent | Partial |
| Rule 7 ceiling computed at group level | Native | Absent | Absent | Absent | Partial | Partial |
| Automatic vs approval route determination | Native | Absent | Absent | Absent | Partial | Partial |
| Zero-knowledge proof of compliance | Native | Absent | Absent | Absent | Absent | Absent |
| Regulator as a member of the ledger | Native | Absent | Absent | Absent | Absent | Absent |
| s.195 / DTAA position and 15CA-15CB pairing | Native | Absent | Absent | Absent | Partial | Native |
| Append-only evidence bundle per remittance | Native | Absent | Absent | Partial | Absent | Absent |
| Entity screening and reference data | Partial | Native | Native | Native | Partial | Partial |
| India-resident sovereign deployment | Native | Absent | Absent | Absent | Native | Native |
Law, not templates
Competitors ship forms and checklists. This rail reasons over the statute and cites the provision it relied on.
Supervision, not reporting
Everyone else tells the regulator afterwards. Here the regulator reads the record while the transaction is still forming.
Proof, not disclosure
A Groth16 circuit proves the ceiling holds without exposing the balance sheet behind it. No competitor offers this.
Roadmap
Now
Prototype
Nine-stage console, 52-corridor atlas, 500-entity Rule 7 board, supervisor view and ZK verifier — running end to end.
Q+1
GIFT pilot
One corridor, GIFT IFSC to Singapore, with one AD bank and one supervisory observer on the ledger.
Q+2
Second corridor & bank
Prove the rail is corridor-agnostic. Onboard the first paying treasuries from the top 200 by net worth.
Q+3
Supervisory node
Formal regulator channel membership, live APR and reporting automation across the onboarded cohort.
Q+4
Scale
All 52 corridors, multi-bank routing, and continuing-compliance calendars as the retention surface.
Risk register
Regulatory adoption
The rail is useless without a supervisor on it. Mitigated by building the GIFT pilot around a single named corridor and a single observer, not a policy change.
Model reliability in law
Mitigated architecturally: the model never holds the veto. Deterministic rule code decides every ceiling, route and prohibition.
Bank inertia
Mitigated by making the AD desk the immediate beneficiary — they receive a complete, pre-validated bundle and carry less risk, not more work.
Data sensitivity
Mitigated by zero-knowledge disclosure: the ceiling is proved without the balance sheet leaving the entity.
Team Quantum Leap — Department of Law, Brainware University
Team Lead
Raja Mukherjee
BWU/BBL/25/002
Regulatory architecture, Rule 7 logic and the supervisory model.
Team Co-Lead
Priyanshu Dhar
BWU/BBL/24/158
Corridor research, treaty and s.195 positions across the 52 hubs.
Concept Support
Abhispa Nath
BWU/BBL/25/121
Evidence design, ownership matrix and the plain-language layer.
The ask
Fund one corridor. Everything after it is configuration.
Use of funds — build
Rules engine coverage across all 52 corridors, ledger hardening and the supervisory node.
Use of funds — pilot
One AD bank, one treasury, one GIFT IFSC corridor run end to end with a supervisor observing.
Use of funds — counsel
Standing regulatory counsel to keep the deterministic rule code aligned with every amendment.
In plain words: this is not a bet on whether Indian companies will invest abroad — they already do, lawfully, every week. It is a bet that proving it should take minutes instead of a month, and that whoever owns that proof owns the corridor.