Accel launches $305 million India fund for early stage startups

REUTERS - Accel Partners, the venture capital that has backed companies like Facebook Inc and Flipkart, said on Tuesday it was launching an India-focussed fund for $305 million, as the company bets on growth in a heated startup industry in the country.

The investment focus area will cover consumer, enterprise software, mobile and healthcare businesses, Accel said.

(Reporting by Nivedita Bhattacharjee in Mumbai)