Accel Launches Fourth Cohort of Pre-Seed Programme with Focus on AI, Fintech, and E-commerce

Accel Rolls Out Fourth Cohort Of Its Pre-Seed Programme With Focus On AI, Fintech & Ecommerce

Multi-stage venture capital firm Accel, which counts Moneyview, Flipkart, Swiggy and Moglix among its unicorns portfolio, has announced the fourth cohort of its flagship pre-seed investment programme Atoms. The programme will target sectors operating in artificial intelligence, ecommerce, financial services, healthcare and edtech as well as 'Bharat'-focused startups. Accel said that it will be investing up to $1 Mn in the selected startups, along with perks worth $5 Mn. According to the VC, 'Bharat' is defined as the middle-income households spread across Tier II, III and rural India. Applications for the Accel Atoms 4.0 opens next Monday (September 16) and will close on November 17. The investment firm further said in its blog post that for the fourth programme it is targeting innovative founders, who are creating scalable, economically feasible solutions tailored to the needs of 'Bharat' consumers. For the uninitiated, the VC firm will be launching its 'Bharat' cohort for the first time in partnership with SaaS-based consultancy startup xto10x. The 12-week programme will be spearheaded by Accel's partner Anand Daniel. Meanwhile, for its AI cohort, Accel is looking to onboard India-born founders' floated startups which are tapping AI tools for business operations. It is also looking to diversify its AI stack, involving small language models, testing tools and core AI models. It is pertinent to note that this will be Accel's second AI cohort to be led by Accel's partner Prayank Swaroop. Accel also claims that 70% of its portfolio comprises founders building their startups in AI. In March, the VC firm selected eight startups, including Spintly, Asets and Tune AI, among others, for its six-month pre-seed accelerator programme Atoms 3.0. The programme focused on startups building in AI and Industry 5.0 domains. As per the company, in the first three Accel Atoms cohorts, over 32 startups have collectively raised over $200M from global investors so far. Yesterday, Accel-backed lending tech startup Moneyview entered the unicorn club after raising INR 38.6 Cr (about $4.6 Mn) in an equity funding round, escalating the company's valuation to $1.2 Bn.

Accel to invest up to $1 million in pre-seed start-ups in AI, Bharat, with Accel Atoms 4.0

Global VC firm Accel has announced the launch of its pre-seed scaling programme Accel Atoms 4.0. The programme will target start-ups operating in two categories of pre-seed start-ups--- artificial intelligence as well as 'Bharat'-focused start-ups working in sectors including ecommerce, financial services, healthcare and edtech among others. Accel will be investing up to $1 million in the selected start-ups through equity or convertible note, along with perks worth $5 million. Innovative founders will leverage the infrastructural advancements in these regions to create scalable, economically feasible solutions tailored to Bharat's evolving needs. With Accel Atoms 4.0, we are excited to give founders the guidance, network of support, and capital to succeed at delivering solutions to the underserved audience in Bharat," said Anand Daniel, Partner at Accel. For the AI cohort, Accel is looking for start-ups by Indian-origin founders based anywhere in the world building companies that are using AI innovatively for business applications or building development tools for the AI ecosystem. This includes companies building compelling use cases across the AI stack: from the foundational layer (small language models on the edge, data & models for modalities like video & robotics, and more) to the infrastructure layer (testing tools & frameworks, securing complex LLM-powered systems, etc.) and application layer (core AI models & agents across use cases). For the Bharat cohort, Accel is looking to back founders building for Bharat across sectors. The global VC fund is looking at emerging e-commerce companies (building efficient supply chains and/or the right customer experience); financial services start-ups targeting individuals or businesses in Bharat; healthcare platforms and solutions making healthcare accessible and affordable; ed-tech, upskilling and recruitment platforms; OTT and content platforms; and emerging Bharat-first brands. Applications for the Accel Atoms 4.0 opens next Monday (September 16) and will close on November 17. It is pertinent to note that this will be Accel's second AI cohort to be led by Accel's partner Prayank Swaroop. In March, the VC firm selected eight start-ups, including Spintly, Asets and Tune AI, among others, for its six-month pre-seed accelerator programme Atoms 3.0. The programme focused on startups building in AI and Industry 5.0 domains. In the first three Accel Atoms cohorts, over 32 start-ups have collectively raised over $200 million from global investors so far. SHARE Copy linkEmailFacebookTwitterTelegramLinkedInWhatsAppRedditPublished on September 13, 2024