\n<\/p>\n
AI and other deep technologies are the prevailing themes in the new early-stage cohort from Peak XV Partners, as the largest India and Southeast Asia-focused VC fund intensifies its search for opportunities in a sector garnering international frenzy.<\/span><\/p>\n Ten out of 13 startups in the latest cohort of Surge, Peak XV\u2019s powerfully influential early-stage program<\/a>, specialize in AI and other deeptech sectors, the fund said on Monday. The unveiling of Surge\u2019s ninth cohort \u2014 and the selection of its startups \u2014 comes at a time when a growing global sentiment suggest a dearth of depth in India\u2019s AI startup landscape.<\/p>\n Y Combinator\u2019s most recent batch includes over 200 startups, of which more than half concentrate on AI, for instance. Despite the cohort\u2019s considerable size, fewer than 10 startups<\/a> are India-based, sparking speculation that the venture firm and India could be growing apart.<\/p>\n \u201cWould I like to see more AI startups? The answer is yes. But do we see zero? No. We see some pretty interesting things that we have picked and invested in,\u201d said Shailendra Singh, Managing Director of Peak XV, in an interview with TechCrunch.<\/p>\n \u201cI think with every passing quarter, every passing six months, and every passing year, India becomes a more and more fertile market with greater expertise,\u201d said Singh, who also oversees all other stages of venture investments at the firm. \u201cWhat has been consistent in the last 18 years that I have been investing, sometimes it can feel slow, sometimes there are market cycles, but if you take any two-three years vintage, it\u2019s very clear that there\u2019s a step-up.\u201d<\/p>\n The new batch \u2014 which features startups working on a range of problems from helping identify and address early brain decline, to transforming the world of processor design and scaling the hydrogen economy \u2014 features multiple founders who have PhDs and international work experience, said Singh. \u201cCould we have found this cohort five years ago? I think that\u2019s quite unlikely even if had wanted,\u201d he added.<\/p>\n \u201cI think we will start to see more fundamental innovation in India, and more science being applied to solve problems.\u201d<\/p>\n Surge, which completes five years in early 2024, has emerged as the most influential early-stage investor in India and Southeast Asia. The program, which also invites select other investors in the ecosystem to evaluate and participate in the cohort\u2019s startups, has backed over 140 startups to date that have collectively raised more than $2 billion in follow-on funding.<\/p>\n Surge, which rolls out two cohorts annually, maintains a measured portfolio size for each batch. This allows Peak XV Partners and other participating members to engage closely with founders, offering guidance on a range of subjects from product strategy to the startup\u2019s mission statement. A Surge startup raises up to $3 million in seed funding<\/a>, a feature that, along with access to an extensive and arguably unmatched set of resources, sets the Peak XV program apart from other market offerings.<\/p>\n The new cohort comes at a time when many other VC funds in India are also attempting \u2014 or re-attempting \u2014 to build a version of their own Surge program. Singh said a growing competition among venture firms is a good thing for the founders and the ecosystem.<\/p>\nThe Surge S9 cohort<\/h3>\n
\n