Private Equity

Incubation/Acceleration

Sequoia Surge has 13 Indian startups in fifth batch

Economic Times  

Venture capital firm Sequoia's Surge accelerator programme has chosen 13 Indian companies for its fifth batch, which has 23 companies spread across India, southeast Asia and Hong Kong, and have raised USD 55 million in total from Surge and other co-investors. ApnaKlub, an agent-led B2B wholesale platform for FMCG goods; Mailmodo, an email marketing platform; and Belora, a make-up brand, are some of the Indian startups in the latest cohort. Of the entire 23 companies, around 13 are into fintech, payments, communications, logistics and software-as-a-service (SaaS). Surge typically invests USD 1-2 million in each startup, while other investors also put in funds. Nexus Venture Partners, Y Combinator, WaterBridge Ventures, DSG Consumer Partners, Accel and India Quotient are some of the co-investors in this batch. Surge's fifth batch is also its largest cohort since it started in 2019. In its previous batch, Sequoia Surge had a dozen startups from India. The latest batch also has 10 women founders.