/images/ppid_59c68470-image-175890253200340175.webp)
What is the story about?
Seed-stage investing platform Surge, backed by Peak XV, has launched its 11th cohort, supporting 23 startups that are reimagining the future of AI, fintech, and consumer innovation. More than half of the cohort are AI-led companies, marking Surge’s most AI-focused batch to date.
Rajan Anandan, MD of Peak XV and Surge, said, “Within AI, we are beginning to see the rise of AI from India, Southeast Asia, Australia, and other markets. In this cohort, of the 23 companies, 12 are AI-focused. Six of them are vertical AI companies. Vertical AI is a mega theme as many companies are now leveraging AI to transform traditional industries—manufacturing, semiconductors, financial services, healthcare.”
The platform has backed over 170 startups since its launch in 2019, with portfolio companies raising more than $3 billion in follow-on funding. Anandan added, “We are very fortunate. It has only been six years since the launch of Surge, but already we are beginning to see category-leading companies emerge in many sectors.”
Apart from AI, the cohort includes fintech innovators, new-age consumer brands, and infrastructure and developer tools companies. In fintech, Surge is seeing a wave of innovation in wealth technology, software infrastructure for banks and insurance companies, and applications built on the India Stack, such as account aggregator frameworks. “In this cohort, we have a company called Ignosis that is building analytic solutions around personal finance applications and lending applications using account aggregators,” Anandan noted.
Consumer startups in the cohort reflect a broad range of innovation. Surge is backing its first leisure brand, its first kids’ footwear brand, and its first milk-based beauty brand, tapping into evolving consumer trends across India’s growing market.
Watch accompanying video for entire conversation.
Rajan Anandan, MD of Peak XV and Surge, said, “Within AI, we are beginning to see the rise of AI from India, Southeast Asia, Australia, and other markets. In this cohort, of the 23 companies, 12 are AI-focused. Six of them are vertical AI companies. Vertical AI is a mega theme as many companies are now leveraging AI to transform traditional industries—manufacturing, semiconductors, financial services, healthcare.”
The platform has backed over 170 startups since its launch in 2019, with portfolio companies raising more than $3 billion in follow-on funding. Anandan added, “We are very fortunate. It has only been six years since the launch of Surge, but already we are beginning to see category-leading companies emerge in many sectors.”
Apart from AI, the cohort includes fintech innovators, new-age consumer brands, and infrastructure and developer tools companies. In fintech, Surge is seeing a wave of innovation in wealth technology, software infrastructure for banks and insurance companies, and applications built on the India Stack, such as account aggregator frameworks. “In this cohort, we have a company called Ignosis that is building analytic solutions around personal finance applications and lending applications using account aggregators,” Anandan noted.
Consumer startups in the cohort reflect a broad range of innovation. Surge is backing its first leisure brand, its first kids’ footwear brand, and its first milk-based beauty brand, tapping into evolving consumer trends across India’s growing market.
Watch accompanying video for entire conversation.
Do you find this article useful?
