Sequoia Capital India Announces Fifth Surge Startup Cohort

Sequoia Capital India Announces Fifth Surge Cohort

Sequoia Capital India has revealed its fifth cohort of the Surge accelerator program, selecting 23 early-stage startups focused on India and Southeast Asia. This announcement coincides with a period of heightened deal activity within the region’s startup ecosystem.

Collectively, the startups within this latest Surge cohort have secured $55 million in funding, according to the investment firm. Notably, this group includes a record number of 10 women founders, marking a significant milestone for the program, which commenced in March 2019.

Strengthening Early-Stage Investment

The Surge program allows Sequoia Capital India to proactively identify and support promising startups at an earlier stage than their traditional investment focus. This strategy aims to broaden their portfolio and increase the likelihood of backing future success stories, as highlighted by industry investors.

Recent market dynamics have further enhanced these opportunities. Increased interest from firms like Tiger Global and Falcon Edge in early-stage Indian ventures has led to several Surge startups attracting their investment.

Approximately 50% of startups from the first three Surge cohorts have successfully progressed to raise their Series A funding rounds, demonstrating the program’s effectiveness.

Program Expansion and Resources

Sequoia India recently secured an additional $195 million for the Surge program, reinforcing its commitment to supporting founders. The program provides strategic mentorship from leading industry experts, hands-on company building assistance, and a strong community for peer-to-peer support. Over 30 advisors contribute to the program within the region.

Some observers suggest that the comprehensive resources and favorable terms offered by Surge have lessened the prominence of Y Combinator in the Indian startup landscape. However, Rajan Anandan, who leads Surge, has stated that he does not view the two programs as direct competitors.

Cohort Focus and Key Sectors

The new cohort, partially previewed by TechCrunch earlier this month, comprises 13 startups concentrating on key sectors including fintech, payments, communications, logistics, and Software-as-a-Service (SaaS).

“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,” stated Anandan, who previously led Google’s operations in India and Southeast Asia. “These leaders have displayed grit, exceptional talent, and relentless purpose in shaping the world.”

He further added, “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.”

Startups Included in the Cohort

• Absolute is developing a plant bioscience and AI platform to enhance precision agriculture, improving yields and nutritional value.
• ADPList aims to democratize mentorship, connecting individuals with mentors globally through a community platform.
• ApnaKlub is a B2B wholesale platform for fast-moving consumer goods, empowering local entrepreneurs.
• Belora creates clean, vegan makeup that prioritizes both performance and skincare benefits.
• Durianpay is building a comprehensive payments stack for business growth and scalability.
• Dyte provides a developer-friendly SDK for integrating real-time audio and video into applications.
• Gumlet offers a media delivery infrastructure that automates image and video optimization.
• Locad simplifies multi-channel e-commerce fulfillment through a distributed warehousing network.
• Mailmodo is an email marketing platform focused on creating app-like experiences within emails.
• Mesh is a people management platform designed to facilitate goal setting, feedback, and employee growth.
• Multiplier streamlines international hiring as an employer of record.
• OneCode connects companies with sales agents to reach less tech-savvy customers.
• Powerplay is a mobile app for construction site management, improving communication and collaboration.
• Pankhuri is a social community platform for women, offering networking, learning, and shopping opportunities.
• RaRa Delivery is focused on instant delivery solutions for e-commerce in Indonesia.
• Revery is revolutionizing wellness through gamification, making it accessible and affordable.
• TWID (That’s What I Do) is a rewards-based payment network allowing loyalty points to be used as payment.
• Vah Vah! is an online platform offering professional vocational training in beauty.
• Vara provides a staff management platform for SMEs in Southeast Asia, simplifying attendance and payroll.
• Veera Health is a digital therapeutics platform supporting women’s health, specifically addressing PCOS.
• Virtual Internships is redesigning internships for the modern workforce.
• WATI enables personalized customer conversations at scale using WhatsApp’s Business API.