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Space for all: 'Startups going for IPO will absorb smaller startups' Accel Partners

Economic Times

Economic Times · 7m ago

Space for all: 'Startups going for IPO will absorb smaller startups' Accel Partners

Venture capitalists are showing interest in the growing Indian ecosystem, with over 64 companies having their IPOs in 2024. Prashanth Prakash, cofounder of Accel Partners India, highlighted the opportunity for small startups leading IP-driven growth in deep tech. He emphasized that startups going public today are willing to acquire smaller companies for expansion and that India is moving beyond consumer startups to focus on deep technology ventures. Prakash predicts that India will see an additional 30 to 40 IPOs by 2025, reflecting the maturing of the startup ecosystem in the country. He also advised entrepreneurs to marry AI with hardware for innovative solutions.

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Accel Atoms 4.0 to invest up to $1 million in startups focused on 'Bharat' opportunity, AI

Economic Times

Economic Times · 10m ago

Accel Atoms 4.0 to invest up to $1 million in startups focused on 'Bharat' opportunity, AI

Accel, a global venture capital firm, has launched Accel Atoms 4.0, a pre-seed scaling program for startups. Chosen startups will receive up to $1 million in funding and over $5 million worth of perks from Accel network partners. The program is open for pre-seed startups operating in the fields of AI and Bharat. Accel Atoms 4.0 aims to support visionary founders and entrepreneurs by providing funding, mentorship, and a network of support. Since its establishment in 2021, Accel Atoms has backed 32 startups that have collectively raised over $200 million.

Digit to go public on May 15, looking to raise Rs 1,125 crore

Economic Times

Economic Times · 1y ago

Digit to go public on May 15, looking to raise Rs 1,125 crore

Digit Insurance, a new-generation insurance company, is set to launch its initial public offering (IPO) on May 15, aiming to raise Rs 1,125 crore. The IPO comes after the firm filed its draft prospectus nearly two years ago. Digit Insurance had achieved a private market valuation of $4 billion in May 2022. However, the IPO size is slightly smaller than originally planned. Digit Insurance offers various insurance products and has a network of distribution partners. It joins other companies like Swiggy and FirstCry in going public.

Swiggy files updated prospectus, to raise Rs 3,750 crore

Economic Times

Economic Times · 9m ago

Swiggy files updated prospectus, to raise Rs 3,750 crore

Food delivery company Swiggy has submitted an updated prospectus for its initial public offering (IPO), consisting of a fresh capital raise of Rs 3,750 crore and an offer for sale of 185.3 million shares. The IPO has received approval from the Securities and Exchange Board of India. Investors such as Prosus, Accel, Norwest Venture Partners, Tencent, Elevation Capital, and Alpha Wave Global will sell part of their stakes in the IPO, while SoftBank will not be selling any shares.

EXCLUSIVE: Prosus to double down on Urban Company with $30M investment

YourStory

YourStory · 9m ago

EXCLUSIVE: Prosus to double down on Urban Company with $30M investment

- Prosus, a major technology investor, plans to double its investment in home services platform Urban Company ahead of the startup's anticipated public listing next year. - Prosus will invest around $30 million in an all-secondary transaction at a flat $2.6 billion valuation, giving a partial exit to Bessemer Venture Partners. - Accel Partners and Elevation Capital, early backers of Urban Company, have put their plans for further stake sales on hold and will await the company's IPO next year. - Prosus' decision to increase its stake in Urban Company follows a substantial gain from its investment in Swiggy, another successful Indian startup. - Prosus is diversifying its stake beyond tech investments, with recent investments in Vastu Housing Finance and plans to invest in Bluestone, a jewellery platform. - Urban Company, founded by Abhiraj Bhal, Raghav Chandra, and Varun Khaitan, last raised funding in 2021 and has initiated conversations with investment banks for an IPO.

VC firm Accel nurtures 8 early stage Indian startups

Livemint

Livemint · 1y ago

VC firm Accel nurtures 8 early stage Indian startups

Leading venture capital firm Accel has selected eight early-stage Indian startups for the third cohort of its accelerator program, Atoms. The program focuses on backing pre-seed ventures in the Artificial Intelligence (AI) and Industry 5.0 domains. The cohort will receive up to $500,000 in funding, along with benefits worth over $5 million from Accel's network partners. The startups will also gain access to mentorship and collaboration opportunities within a strong peer community. The selected cohort includes four AI startups, two Industry 5.0 startups, and two stealth mode startups.

From EMotorad to PhiCommerce - Indian startups raised $62 Mn this week

Inc42 · 1y ago

From EMotorad to PhiCommerce - Indian startups raised $62 Mn this week

Indian startups have raised $62 million in funding across 19 deals this week, showing a marginal increase from the previous week. Notably, fintech unicorn Mobikwik is considering going public after abandoning its IPO plans two years ago. Additionally, EMotorad, an electric vehicle startup, secured $20 million in funding from Panthera Growth Partners, making it the biggest funding deal of the week.

Accel Rolls Out Fourth Cohort Of Its Pre-Seed Programme With Focus On AI, Fintech & Ecommerce

Inc42 · 10m ago

Accel Rolls Out Fourth Cohort Of Its Pre-Seed Programme With Focus On AI, Fintech & Ecommerce

Accel has announced Accel Atoms 4.0, a 4-month long startup mentorship and investment programme. It will focus on sectors such as artificial intelligence, ecommerce, financial services, healthcare, and edtech, as well as Bharat-focused startups. Selected startups will receive investments up to $1 Mn from Accel, along with additional perks worth $5 Mn. Applications for the programme are open from September 16 to November 17.

Accel bags $650M for new India fund with 131 investors

YourStory

YourStory · 6m ago

Accel bags $650M for new India fund with 131 investors

Venture capital firm Accel has raised $650 million for its eighth India fund with 131 undisclosed investors, mirroring its previous fund in 2022. Accel, a global VC firm with investments in over 300 companies like Facebook and Dropbox, operates in multiple countries, including India, since 2008. Accel recently realized significant returns from Swiggy's IPO and invested in startups like FirstClub. In 2024, India's tech funding grew 6%, led by late-stage investments.

Accel eyes partial exits from multiple early investments

Livemint

Livemint · 9m ago

Accel eyes partial exits from multiple early investments

Venture capital firm Accel is considering selling partial stakes in its portfolio companies, including Swiggy, Urban Company, BlackBuck, and BlueStone, to create liquidity. The sales are expected to involve a mix of pre-IPO secondary sales and offer-for-sale transactions in upcoming IPOs. Accel aims to return capital to limited partners and has been invested in these companies for a long time. The firm plans to find pre-IPO exit opportunities or public market exits and is actively looking at secondary opportunities. The timing of the IPOs may vary among the companies.

VCs hire experts to help with exits as LPs look for returns

Economic Times

Economic Times · 1y ago

VCs hire experts to help with exits as LPs look for returns

Venture capital (VC) firms in India are hiring executives for corporate development roles as they focus on facilitating successful exits and redistributing capital to limited partners. Leading VC firms, including Lightspeed, Accel, and Matrix Partners India, are looking for professionals with investment banking expertise to help monetize and harvest investments as portfolio companies reach maturity. These professionals will be responsible for overseeing follow-on financing, mergers and acquisitions, secondary market transactions, and guiding startups towards their initial public offerings (IPOs). Returning capital to limited partners has become crucial for VCs looking to raise subsequent funds.

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