Accel India has chosen 10 startups as a part of its second cohort of Atoms programme that was launched final 12 months for pre-seed investments.
“Now we have an understanding of what founders want from the very starting of their journey. Atoms (programme) was created to help these founders of their journey to construct profitable corporations.
Now we have obtained purposes from a diverse set of founders, and the sheer range of those corporations is a testomony to their creativeness, creativity and acumen,” stated Prayank Swaroop, companion, Accel India.
The Atoms programme affords $250,000 as base capital in pre-seed rounds to every startup as an ‘uncapped convertible be aware’, which can convert to fairness solely within the subsequent spherical.
To date, Accel Atoms has invested $6 million in 23 startups by its two cohorts. These corporations have raked in near $100 million in follow-on and extra funding by the programmes, the VC agency stated in an announcement.
In February, Accel had introduced 14 startups chosen as a part of its first cohort of Atoms programme.
The ten startups chosen by Accel in second cohort primarily come from the SaaS, D2C and B2B sectors.
The startups embrace Brik, a B2B building material-focused startup; Databrain, an information platform enabling non-technical strategic groups to extract and analyze knowledge successfully; Dhiwise, a devtool that permits builders to ship production-ready supply code 10x sooner for every kind of apps.
The opposite corporations embrace Dpanda, which helps convert platforms into micro-e-commerce websites and monetize the platforms’ visitors; Fishlog, a B2B market streamlining the seafood provide chain throughout Indonesia and Mello, a discovery platform that enables folks to seek out the most effective experiences round them, amongst others.
Accel isn’t the one VC providing early-stage mentorship programmes. In 2019, Sequoia Capital had launched Surge, underneath which it invests $1-3 million in alternate for fairness, whereas offering mentorship and connections at an early stage.
Since 2008, Accel has been working in India and its funding portfolio corporations embrace the likes BookMyShow, Browserstack, Flipkart, Freshworks, FalconX, Myntra, City Firm, Zetwerk, and Zenoti, amongst others.
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