VC firm Accel nurtures 8 early stage Indian startups, AI and Industry 5.0 in focus
Leading venture capital firm Accel has announced eight early-stage Indian startups in the third cohort of its accelerator program called Atoms which backs pre-seed ventures building in the Artificial Intelligence (AI) and Industry 5.0 domains.
The cohort receives up to $500,000 in funding. Besides this, the startups will also get other benefits worth more than $5 million from Accel’s network partners, opportunities to collaborate with a strong peer community of founders from previous cohorts, and personalized mentorship.
This cohort include four AI startups (Tune AI, Skoob, Meritic, and Arivihan), two Industry 5.0 startups (Spintly and Asets), and the remaining two are in stealth mode.
Prayank Swaroop, Partner at Accel said, “The shift to a thematic program design for Atoms 3.0 has enabled us to provide deeper, sector-focused mentorship for the startups. Atoms has always restricted itself to smaller cohort sizes to stay hyper-focused on the needs of a smaller group of exceptional founders.”
“We believe we have found the next wave of disruptors in AI and Industry 5.0, and the proof of this has been witnessing the growth of each of these startups since joining the program. While AI presents an incredible opportunity, the pace of innovation in AI requires founders to have the right mindset for navigating this market,” he said.
Previous two Atoms cohorts have raised over $200 million in funding since the launch of the program, the VC firm said, adding that it has been the first partner to many of India’s successful startups including Flipkart, Freshworks, Swiggy, Urban Company, Zetwerk, and Cure.fit.
“The zero-to-one journey presents the most formidable challenge for entrepreneurs, as every decision can completely alter the trajectory of your business. Our mission with Atoms is to ensure founders have the best odds at success and can make those mission-critical decisions with insight from the world’s best domain experts,” said Barath Shankar Subramanian, Partner at Accel.
He added that the 6-month Atoms 3.0 journey is giving founders insight into critical 0-to-1 areas like hiring, getting your first 10 customers, or tuning their pitch for investors.
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Published: 28 Mar 2024, 05:26 PM IST
Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.