After picking up 17 startups under its first accelerator programme, Surge, in India and Southeast Asia, Sequoia has selected another 20 startups based out of the two regions for the second cohort.
Led by former Google India head Rajan Anandan, the 16-week programme will help them in company-building and provide cross-border support.
Like the previous cohort, these startups will get monetary support of $1-2 million from the Silicon Valley-based venture capital and co-investments from other institutional and angel investors including Lightspeed Venture Partners, Nexus Venture Partners, Omidyar Network and Blume Ventures.
The new batch with startup across consumer internet, clean energy, robotics and social commerce are – Airalo, Bijak, Brick&Bolt, Chilibeli, Classplus, Cognicept, Freewill, Hevo Data, InVideo, Juno, Log9 Materials, Klub, Perro-Mart, Quolum, Rheo TV, Rukita, Storie, Trell, Yours, and PerroMart.
According to media reports, these startups have already raised about $45 million collectively.
Launched in January with a target to conclude two batches in a year, startups in Surge’s portfolio have already created a buzz with back to back funding rounds.
Since their entry in the programme, almost all selected startups from India – Azani Sports, Bulbul, Doubtnut, Flynote, Hippo Video, InterviewBit Academy, Khatabook and Skillmatics – have raised significant external investment.
Among them, Khatabook and InterviewBit Academy have impressed some of the top investors such a sTiger Global, GGV Capital, Tencent and Y Combinator.
Sequoia’s Surge has kept $150-200 million fund to back startups in B2B and consumer Internet segments.
Focusing on early-stage startups in India, Sequoia had also launched a separate seed fund – Sequoia Capital India Seed Fund I Ltd registered in Mauritius.
While the first cohort of Indian startups has been able to put a good show in terms of growth and raising investment, it would be exciting to keep an eye the 20 startups in the second season of Surge.
