AI Summit 2026: From Funding To Pitching, What Do Investors Really Want? Kalaari’s Jayraj Shares What Mattes

• Kalaari Capital's Jayraj Bharat Patel explained how investors evaluate AI startups at India AI Summit 2026.
• The session focused on turning tough investor questions into funding opportunities.
• Clarity on product, market, data and capital use emerged as key to securing investment.

At the India AI Impact Summit 2026 in New Delhi, one of the most practical sessions for founders and startup enthusiasts came from Kalaari Capital's AVP Jayraj Bharat Patel.

Titled "How to Turn Investor Questions into Yes", the session offered a deep dive into how investors think, what they look for in AI startups and how founders can strengthen their pitch to secure funding.

The session drew strong interest from early-stage founders, engineers and startup operators eager to understand what happens inside an investor's mind when evaluating a company.

Understanding how investors evaluate AI startups

Opening the session, Patel said many founders assume investors only look at growth or revenue. In reality, venture capital firms focus on a few core fundamentals. For AI startups in particular, he said investors primarily assess two things - repeatability of the product and the degree of customisation required to scale it.

He explained that early-stage companies should focus on building a strong, repeatable product in a specific segment rather than trying to cater to everyone. According to him, investors prefer companies that can scale their solution across customers without heavy customisation, as this improves margins and long-term sustainability.

Key investor lens for AI startups:

Product-market fit, repeatability and strength of founding team
Patel stressed that founders must clearly communicate where they sit in the AI ecosystem - whether on the application layer, infrastructure layer or platform layer - and how their solution fits into the larger AI stack.

What founders should do while pitching investors

The session then shifted to practical guidance for founders preparing for investor meetings. Patel highlighted that clarity and structure in communication are critical. Investors want to see a simple, repeatable path to scale and a clear understanding of how capital will be used.

He advised founders to clearly map their 12-18 month capital plan and explain how the funds will reduce risk, strengthen product-market fit and improve business fundamentals. Presenting strong metrics such as retention, usage patterns and unit economics can significantly strengthen credibility.

Another important suggestion was to lead with product usage and customer behaviour. Patel said showing how customers use and benefit from the product is often more convincing than lengthy presentations.

Common mistakes founders must avoid

Patel also outlined several mistakes that weaken startup pitches. One of the most common errors, he said, is presenting a service-heavy business as a scalable product without data or standardisation to support the claim. Investors quickly identify such gaps.
He cautioned founders against pitching overly broad ideas such as "AI for everyone" in the early stages. Instead, startups should focus on a clearly defined niche where they can build a strong foundation before expanding.

Another mistake is assuming that initial revenue alone will secure funding. Investors, he said, look beyond revenue to understand whether the business can scale sustainably.

What convinces investors quickly

Answering a question on what convinces investors the fastest, Patel said early-stage investment decisions often come down to three factors - product, market and team. The definition of the "right founder" varies depending on the segment, but clarity of thought and conviction remain constant.

He explained that investors want founders who understand their competitive landscape, know where they stand in the market and have a clear strategy for capturing opportunities. When founders demonstrate strong conviction backed by data and realistic plans, investors are more likely to move into deeper evaluation.

Patel also noted that founder-investor "fit" evolves over time. Each conversation helps investors refine their understanding of the opportunity and the founder's ability to execute.

Data matters more than assumptions

A recurring theme throughout the session was the importance of data. Patel emphasised that in today's startup ecosystem, "data beats bias." Strong metrics can quickly overcome doubts about a founder or business model.

He advised founders to come prepared with a few clear, non-negotiable data charts - such as retention trends, product usage and model economics - and be ready to explain them simply. When faced with tough or defensive questions, founders should respond first with accurate data and then with a forward-looking plan.

A practical session for founders

The session stood out for its practical and straightforward approach. Instead of abstract theory, Patel focused on real-world investor expectations and actionable advice. Founders attending the summit gained clarity on how to structure their pitches, avoid common mistakes and build stronger conversations with investors.

As India positions itself as a global hub for AI innovation, sessions like these offered valuable insights for startups looking to raise capital and scale their ideas. Patel's message was clear - clarity, conviction and strong data are what turn investor questions into a confident "yes."

Who is Jayraj Bharat Patel?

Jayraj Bharat Patel is an AVP at venture capital firm Kalaari Capital, where he focuses on software and AI-led investments. He began his professional journey by launching a digital media startup for students soon after college. He later joined Paper.vc, a private market intelligence platform for India's startup ecosystem, where he led research, ran a newsletter that scaled to over 10,000 subscribers and contributed across product and data initiatives.

At Kalaari, Patel now evaluates early-stage startups, particularly those building AI-driven and workflow-first solutions, giving him a front-row view into what makes a startup investable.