Sequoia's Surge accelerator programme invests $55 mn in 23 startups

Sequoia Capital India’s accelerator programme Surge has selected 23 early-stage startups for its fifth cohort and invested $55 million in the batch along with coinvestors.

With this, the Surge community now has 203 founders, from 91 startups building companies across more than 15 sectors such as fintech, payments, communications, and logistics. 

“We are incredibly proud of all 23 companies who have joined Surge 05 and the founders who have forged their businesses in sectors that have seen tremendous tailwinds. These leaders have displayed grit, exceptional talent, and relentless purpose in shaping the world. At this inflection point of global regrowth, we are excited to be part of the journey of our founders and their companies, many of which we believe will grow into large, enduring businesses,” said Rajan Anandan, Managing Director, Surge, Sequoia India.

The fifth cohort has a unifying theme of transforming human potential through digitising the way we live, work and learn. Of the 23 companies, a majority of companies are creating products and services to help companies work smarter, better and seamlessly across borders. Five companies in the lifestyle segment are helping consumers live better lives, from advanced farming technology to leveraging gaming to revolutionising wellness and four are transforming the delivery of education. Twenty of these include Absolute, ADPList, ApnaKlub; Belora; Durianpay; Dyte; Gumlet; Locad; Mailmodo; Mesh; Multiplier; OneCode; Pankhuri; Powerplay; RaRa Delivery; Revery; TWID; Vah Vah!; Vara; Veera Health; Virtual Internships; and WATI while one of them is in the stealth mode.

According to Sequoia, nearly 50 per cent of companies from the first three cohorts have raised Series A. It is a scale-up programme for startups in India and Southeast Asia which combines $1- 2 million of seed capital with company-building workshops, a global curriculum and support from a community of exceptional mentors and founders during a 16-week period.