Sequoia’s Surge, other co-investors pump $55 million in fifth cohort of 23 startups

By: |
June 30, 2021 10:25 PM

Surge founders go through a 16-week virtual programme, designed to scale-up their businesses and provide them with access to Sequoia's global tribal knowledge, combined with tools and experience from a network of successful company builders.

Sequoia's Surge, other co-investors pump $55 million in fifth cohort of 23 startupsSince its launch in 2019, Surge has grown into a vibrant, international community of over 203 founders from 91 companies.

Sequoia Capital India’s startup accelerator programme, Surge on Wednesday announced its fifth and largest cohort of 23 early-stage startups, and said it has invested USD 55 million (around Rs 408 crore) along with co-investors in this round.

The companies from Surge’s fifth cohort are from Singapore, Indonesia, Vietnam, Hong Kong, India and the US.

“It is with much excitement that we welcome our fifth cohort — our largest and most diverse bunch yet…Our latest cohort is reflective of the ever-evolving startup ecosystem. We received exceptional applications, across a very wide range of sectors, that have seen massive acceleration by the pandemic — changing how we live, work and play forever,” a blogpost said.

It added that 40 per cent of ‘Surge 05’ are SaaS and DevTools companies, most of whom are building for global markets from day one. It also has companies in B2B commerce and two in logistics space, and the remaining operate across consumer, edtech, fintech, and digital health.
Also, one-third of the startups in this cohort have at least one woman founder.

“These companies have collectively raised USD 55 million in their Surge round from both Surge and co-investors. More than half of them are also coming into the programme with institutional and angel co-investors,” it said.

Since its launch in 2019, Surge has grown into a vibrant, international community of over 203 founders from 91 companies. Nearly 50 per cent of companies from the first three cohorts have raised their series A funding.

“We are incredibly proud of all 23 companies who have joined Surge 05 and the founders who have forged their businesses in sectors that have seen tremendous tailwinds. These leaders have displayed grit, exceptional talent, and relentless purpose in shaping the world,” Rajan Anandan, Managing Director of Surge and Sequoia India, said in a statement.

Surge founders go through a 16-week virtual programme, designed to scale-up their businesses and provide them with access to Sequoia’s global tribal knowledge, combined with tools and experience from a network of successful company builders.

The programme covers the fundamentals of company building, and ends with an investor week called UpSurge where founders have the opportunity to make connections, build relationships and find prospective investors and partners who will be a part of their company’s journey for the long term.

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