Sequoia Capital’s Surge backs 7 Indian early-stage startups1 min read . Updated: 27 Apr 2020, 01:44 PM IST
- According to Sequoia India, 80% of the startups in its latest batch are coming onboard with institutional co-investors
- Surge is a 15-week long accelerator programme, which provides $1-2 million of seed capital to each startup
BENGALURU : Sequoia Capital India’s accelerator programme for startups, Surge, has backed 15 early-stage startups as a part of its third batch, of which seven are from India.
The latest batch includes data science startup Atlan, community management platform Convosight, subscription based smart water purifier startup DrinkPrime, online fitness app Fittr, site-reliability engineering platform Last9, digital business procurement platform Procol and a direct to consumer startup in stealth mode.
“It’s been incredible watching our Surge founders build innovative, global-first businesses from the region. Our past Surge cohorts have displayed relentless drive, tenacity and passion to create real impact in their respective industries and communities and Surge 03 is no different. We are proud to be able to partner with this current cohort of ambitious founders who are building their companies in one of the most challenging periods in modern history", said Rajan Anandan, Managing Director, Surge and Sequoia Capital India LLP.
Other startups part of this cohort include Pencil, Pentester Academy, Tigerhall and Tinvio from Singapore; BukuKas, CoLearn and Hangry from Indonesia as well as Thuocsi from Vietnam.
These startups mainly offer solutions for industry verticals, including SaaS, Dev tools, Consumer, F&B, Education and Health.
According to Sequoia India, 80% of the startups in its latest batch are coming onboard with institutional co-investors and close to 50% also have angel investors. Collectively, the third batch of Surge has already raised over $39 million in investments.
One-third of the startups in this batch have women founders.
Launched in March 2019, Surge is a 15-week long accelerator programme, which provides $1-2 million of seed capital to each startup along with company-building workshops, global immersion trips and support from a community of seasoned mentors, founders.
At present, Surge has more than 110 founders from 52 startups, spread across six countries.
Surge startups have already raised more than $250 million after completing Surge, in subsequent financing rounds. These include Bijak, Bulbul, Doubtnut, Khatabook and InterviewBit’s Scaler Academy from India.