Surge, the scale-up program for early-stage startups by Peak XV Partners, has announced its ninth cohort consisting of 13 ventures. This cohort focuses on cutting-edge technologies such as deep tech, artificial intelligence (AI), advanced manufacturing, and quantum computing.
This marks Surge’s first cohort since its parent company, Peak XV Partners, was formed after the split from Sequoia Capital. The program aims to select the best founders in markets that show great potential.
Rajan Anandan, managing director of Peak XV Partners, expressed the program’s intention to keep the cohort small to maintain a strong focus on quality. The shift in the sectoral mix from consumer brands, vertical ecommerce, and metaverse towards more advanced technologies reflects the evolving ecosystem.
The ninth cohort showcases a promising lineup of ventures, including players in the semiconductor industry like InCore and Mindgrove. AI startups have also become a significant part of Surge, with 20 companies in this field joining the program. Ethereal Machines, ZeroK, Relevance AI, and Pix.ai from Singapore are some of the exciting deeptech and AI startups featured in this cohort.
Since its launch in 2019, Surge has supported over 140 startups, which have collectively raised more than $2 billion in follow-on funding. Some notable startups from previous cohorts include Scaler Academy, Khatabook, Log 9 Materials, Plum, and Lambda Test.
In addition to providing seed capital, Surge offers company-building workshops, a global curriculum, and access to a network of mentors and founders. Successful entrepreneurs and industry leaders like Patrick Collison from Stripe, Nitin Kamath from Zerodha, and Gaurav Munjal from Unacademy have shared their expertise with Surge participants.
Surge’s ninth cohort is the second smallest, reflecting the program’s decision to maintain a cohort size of 10-20 startups. To avoid investing in competing companies, Surge carefully selects ventures that complement each other. This approach ensures that startups can benefit from collaboration and mutual support.
While Surge continues to thrive, it’s interesting to note that Y Combinator, another prominent startup accelerator, has seen a decline in Indian startups joining its cohorts. The latest summer 2023 cohort of Y Combinator featured only one Indian startup, indicating a potential shift in the startup landscape.
As deep tech, AI, and quantum ventures take center stage in Surge’s ninth cohort, it’s clear that these emerging technologies are shaping the future of the startup ecosystem. Surge is playing a vital role in supporting and accelerating these innovative ventures, bringing their groundbreaking solutions to the world.
Frequently Asked Questions (FAQ)
1. What is Surge?
Surge is a scale-up program for early-stage startups, focusing on industries such as deep tech, AI, advanced manufacturing, and quantum computing. It provides seed capital, mentorship, and company-building workshops to selected ventures.
2. How many startups are included in Surge’s ninth cohort?
Surge’s ninth cohort consists of 13 startups that have been carefully selected based on their potential and alignment with the program’s focus areas.
3. What is the significance of deep tech, AI, and quantum ventures in this cohort?
Deep tech, AI, and quantum ventures represent the forefront of innovation and are driving the future of various industries. Surge’s selection of startups in these sectors highlights the program’s commitment to supporting cutting-edge technologies.
4. How has Surge evolved since its inception?
Surge has evolved to adapt to the changing startup ecosystem. Initially, it invested $1-2 million in each selected startup, but now it has increased the investment ceiling to $3 million, providing more opportunities for startups to receive funding.
5. What support does Surge offer to startups?
In addition to financial support, Surge organizes company-building workshops, offers a global curriculum, and provides access to a network of mentors and founders. This comprehensive support system helps startups navigate the challenges of scaling their businesses.
6. What is the significance of Surge’s cohort size?
Surge aims to maintain a cohort size between 10-20 startups to ensure a focused and collaborative environment. By avoiding investments in competing companies, Surge enhances the opportunities for startups to collaborate and support each other.
7. How does Surge compare to other startup accelerators?
Surge stands out with its focus on deep tech, AI, and quantum ventures. While some other accelerators have seen a decline in Indian startups joining their cohorts, Surge continues to attract and support promising ventures in these cutting-edge fields.
(Sources: [ETtech](https://tech.economictimes.indiatimes.com/news/startups/more-deeptech-ai-ventures-in-surge-9th-cohort-anandan/93459461), [Y Combinator](https://www.ycombinator.com/))