Peak XV ups Surge seed investment ceiling to $5M, unveils 18-startup cohort
techcrunch ·
Peak XV Partners has raised the investment ceiling for its Surge seed-stage platform to $5 million per startup, up from the previous limit of $3 million. This increase coincides with the launch of Surge 12, a new cohort comprising 18 diverse startups ranging from AI and robotics to healthcare and fintech. The firm invested over $50 million across this group, which has collectively secured more than $90 million in total seed funding. Managing Director Rajan Anandan noted that the bar for raising Series A capital has risen significantly, driving larger seed rounds especially in capital-intensive deeptech sectors. The cohort features founders from various global locations, including San Francisco and Sydney, with more than half of the companies based in India while targeting international markets. Notable entrants include Alma, focusing on personal computing, and August AI, a healthcare platform combining AI with physician-led care. Since its inception in 2019, Surge has backed over 180 startups, with its top ten companies now generating over $1 billion in combined annual revenue.
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