Sequoia Capital India's Startup Accelerator Programme invests $55 million in its Fifth Cohort
Surge, Sequoia Capital India's startup accelerator programme, announced its fifth and largest cohort of 23 early-stage startups, and has invested a total of $55 million in this current batch with co-investors.
The majority of the 23 companies work in the domains of fintech, payments, communications, logistics, and Software as a Service (SaaS).
Furthermore, these companies are developing products and services to assist other businesses, including small and medium-sized enterprises (SMEs), in working smarter, better, and more seamlessly across borders, according to Sequoia Capital India.
Surge's fifth cohort includes ten female founders, making it the startup accelerator's largest cohort to date.
Since its inception in March 2019, Sequoia India has amassed a community of 203 founders across 91 startups in 15 sectors. The programme began with a $200 million initial corpus.
According to the blue-chip venture capital firm, nearly half of the companies in the first three cohorts have raised their Series A rounds.
Surge startups from the first four cohorts have raised a total of $172 million in Surge funding.
“We are incredibly proud of all 23 companies who have joined Surge 05 and the founders who have forged their businesses in sectors that have seen tremendous tailwinds. These leaders have displayed grit, exceptional talent, and relentless purpose in shaping the world. At this inflection point of global regrowth, we are excited to be part of the journey of our founders and their companies," said Rajan Anandan, managing director, Surge and Sequoia Capital India.
Aside from the larger themes of fintech and SaaS, nearly five of the companies chosen for Surge's fifth batch work in the lifestyle sector, developing solutions for advanced farming, gaming, and consumer wellness.
Surge invests between $1 million and $2 million in seed capital in these companies while also providing them with scaling tools.
Earlier this year, Sequoia India announced the close of its second seed fund, Surge, at $195 million to support the next set of early-stage startups across Indian and n markets.
Surge members gain access to the capital, community, company-building support, and cross-border experience they require to launch or accelerate their company.
Surge, which occurs twice a year, is open to companies based in or developing for the India and Southeast Asian markets. Each Surge wave consists of 10 to 20 companies and lasts sixteen weeks.
The majority of the 23 companies work in the domains of fintech, payments, communications, logistics, and Software as a Service (SaaS).
Furthermore, these companies are developing products and services to assist other businesses, including small and medium-sized enterprises (SMEs), in working smarter, better, and more seamlessly across borders, according to Sequoia Capital India.
Surge's fifth cohort includes ten female founders, making it the startup accelerator's largest cohort to date.
Since its inception in March 2019, Sequoia India has amassed a community of 203 founders across 91 startups in 15 sectors. The programme began with a $200 million initial corpus.
According to the blue-chip venture capital firm, nearly half of the companies in the first three cohorts have raised their Series A rounds.
Surge startups from the first four cohorts have raised a total of $172 million in Surge funding.
“We are incredibly proud of all 23 companies who have joined Surge 05 and the founders who have forged their businesses in sectors that have seen tremendous tailwinds. These leaders have displayed grit, exceptional talent, and relentless purpose in shaping the world. At this inflection point of global regrowth, we are excited to be part of the journey of our founders and their companies," said Rajan Anandan, managing director, Surge and Sequoia Capital India.
Aside from the larger themes of fintech and SaaS, nearly five of the companies chosen for Surge's fifth batch work in the lifestyle sector, developing solutions for advanced farming, gaming, and consumer wellness.
Surge invests between $1 million and $2 million in seed capital in these companies while also providing them with scaling tools.
Earlier this year, Sequoia India announced the close of its second seed fund, Surge, at $195 million to support the next set of early-stage startups across Indian and n markets.
Surge members gain access to the capital, community, company-building support, and cross-border experience they require to launch or accelerate their company.
Surge, which occurs twice a year, is open to companies based in or developing for the India and Southeast Asian markets. Each Surge wave consists of 10 to 20 companies and lasts sixteen weeks.
.jpg "Caim By Arelang: India's First CandyCeuticals Company Offering Nutraceuticals in Irresistibly Tasty Treats")
