Sequoia’s Surge selects 17 startups for its fourth batch1 min read . Updated: 24 Nov 2020, 08:20 PM IST
- Sequoia India said that over half the startups, which are a part of the latest cohort are Software-as-a-Service (SaaS) companies
Sequoia Capital India’s accelerator programme, Surge has selected 17 early-stage startups, headquartered in India, Singapore, Vietnam, Indonesia and Australia, for its fourth-cohort, the blue chip investor said on Tuesday.
These startups span across sectors including edtech, fintech, SMETech, developer tools, consumer, healthtech and B2B marketplaces.
Further, Sequoia India said that over half the startups, which are a part of the latest cohort are Software-as-a-Service (SaaS) companies, with 11 of the 17 startups building for cross-border markets.
Startups in the fourth batch of Surge have already collectively raised $45.35 million from both Surge and other investors, with the majority of companies entering the program with institutional and angel co-investors.
“This cohort is a reflection of how the region’s startup ecosystem will look and think for the next few years – possibly impacting entire economies. Businesses going beyond home markets, thinking digital first, and leveraging technology to solve problems at scale for industries around the world. It’s incredible to be a part of this growth story," said Rajan Anandan, Managing Director, Sequoia Capital India LLP.
In less than two years since its launch, Surge has seen over 150 founders participating across the globe. This cohort alone has founders based in seven countries including USA, Belgium, India, Singapore, Vietnam, Indonesia and Australia.
Along with the mentorship, Surge founders receive $1 million to $2 million early on in the program, so they can start hiring and building their product right away.
As a part of the third cohort, Surge backed close to 15 early-stage startups of which seven are from India. Some of the notable Surge alumni include Bijak, Bulbul, Doubtnut, Khatabook and Scaler Academy from India.
In July, this year, venture-capital firm Sequoia India announced two new India- and South-East Asia (SEA)-focussed funds—a $525-million venture fund, and a $825-million growth fund.