Surge, the accelerator program by Peak XV, has announced the selection of 14 startups for its tenth cohort, with a focus on artificial intelligence, financial services, consumer sectors, and healthcare. This new cohort, which includes startups from India, Southeast Asia, Australia, China, the UK, the US, and the Middle East, represents a diverse and global mix of innovation.
Rajan Anandan, Managing Director at Peak XV, emphasized the geographical and sectoral diversity of this group, noting, “In our last cohort, we saw significant interest in deeptech and semiconductor companies. Now, we’re seeing broader innovation across various sectors, showcasing the dynamic evolution of the Indian startup ecosystem.”
This cohort marks the second group under the Peak XV brand, which emerged from Sequoia Capital’s split into independent entities for its operations in India, China, and the US.
Key startups in the AI and financial services domain include Brainfish, Auquan, Dubbing AI, Orbitshift, Ambak, Parseable, SalarySe, and Wobot AI. Other selected companies are Amaani, Clout Kitchen, Dezy, The Health Factory, Tailcall, and a stealth-mode healthcare startup.
Surge continues to back innovative companies, with notable alumni like InCore, Mindgrove, Scaler Academy, and Khatabook. Since its launch in 2019, the program has supported over 150 startups across 17 sectors.
Surge’s investment model has evolved, now offering up to $3 million per startup in seed funding. In addition to financial backing, startups benefit from expert mentorship, workshops, and support in areas such as product development, hiring, and marketing.
The 10th Surge cohort will run from October 2024 to February 2025, with a strong lineup of mentors including prominent industry leaders such as Stripe’s Patrick Collison, Zerodha’s Nithin Kamath, and Cred’s Kunal Shah.
Surge companies have collectively raised over $2 billion in follow-on funding, with over 75% of startups securing Series A funding after completing the program. Anandan reiterated that the caliber of founders and the market opportunity remain key factors in the selection process.
“There has never been a better time to launch a startup in India,” Anandan added, highlighting the immense potential in the country’s startup landscape.