The latest collection of Surge Peak XV 77% of artificial intelligence and Deeptek startups TechCrunch

Image credit: Peak Partners XV

Artificial intelligence and other deep technologies are the dominant themes at new early-stage group Peak XV Partners, as the largest VC fund focused on India and Southeast Asia intensifies its search for opportunities in a sector that has generated international excitement.

Ten of the 13 startups in the latest cohort of Surge’s powerful early-stage program, Peak XVs, specialize in artificial intelligence and other deep technology sectors, the fund announced on Monday. The unveiling of Surges’ ninth cohort and its selection of startups comes at a time when growing global sentiment suggests a lack of depth in India’s AI startup landscape.

The latest batch of Y Combinators includes more than 200 startups, more than half of which are focused on artificial intelligence, for example. Despite the significant number of groups, less than 10 startups are based in India, prompting speculation that the investment firm and India are on the rise.

Do I want to see more AI startups? The answer is yes. But do we see zero? No, said Peak XV CEO Shailendra Singh in an interview with TechCrunch. We see very interesting things that we have chosen and invested in.

“I think every quarter, every six months and every year, India becomes a more fertile and specialized market,” said Singh, who also oversees all other phases of venture capital at the firm. What’s been consistent over the last 18 years that I’ve been investing, sometimes it may seem slow, sometimes there are market cycles, but if you look at two to three years, it’s pretty clear that it’s a step up. There is.

The new group, which includes startups working on a wide range of problems, from helping to identify and address early brain deterioration to changing the world of processor design and scaling the hydrogen economy, has several founders with PhDs and experience, Singh said. They are international. Could we have found this band five years ago? He added, “I think it’s highly unlikely even if you want to.”

I think we will see more radical innovation in India and more science applied to solve problems.

Surge 09 group

  • bulldozer Created by Matteo Pelati and Vivek Gudapuri is an open source data infrastructure platform that aims to help data scientists and engineers build highly scalable, real-time data APIs in minutes.
  • Elias Founded by Karan Miglani and Ritwik Khare, it serves as a management platform for luxury villas and apartments, enabling owners to monetize, monitor and maintain their vacation homes in India.
  • Ethereal machines Founded by Kaushik Mudda and Navin Jain, it operates in the advanced manufacturing sector, specializing in the production of precision engineered parts through its multi-axis CNC machines.
  • Horizon quantum computing Founded by Joe Fitzsimons, it develops software development tools designed to unlock the capabilities of quantum computing hardware.
  • InCore Founded by Arjun Menon, Gautam Doshi, GS Madhusudan, and Neel Gala is a legendary semiconductor startup building RISC-V based processor solutions for various industries, including industrial automation and consumer electronics. .
  • Merko Founded by Elliot Gibb and Jascha Zittel, it serves as an employee engagement platform, facilitating the hiring, training and engagement of frontline teams in companies.
  • Mindgrove Founded by Sharan Srinivas J and Shashwath TR, it designs affordable and scalable microprocessor technology and designs SOCs that combine all electronic components on a single chip.
  • Norweezer Founded by Pang Sze Yunn and Navdeep Vij Singh, it operates in the health technology sector. It specializes in developing advanced technologies to reduce the early symptoms of brain deterioration.
  • Nutris Founded by Prasanta Sarkar and Rochan Sinha, it is a climate technology startup working to develop innovative electrolyzers for efficient and cost-effective production of green hydrogen.
  • Developed by Alvin Li, Raven Gao and Veronica Liao is an AI-powered anime art generator that provides users with a set of tools and templates to create personalized anime art.
  • Communication of artificial intelligence Founded by Daniel Vassilev and Jacky Koh is a machine learning startup that strives to help companies automate workflows through a codeless AI workforce.
  • ZeroK Founded by Mudit Krishna Mathur, Varun Ramamurthy, Samyukktha Thirumeni, and Shivam Nagar, it is an AI platform that helps developers troubleshoot production incidents faster by performing intelligent checks to guide them to root causes, resulting in less downtime. Reduce.
  • There’s also a startup that’s staying under wraps for now, launching an AI platform aimed at increasing software team productivity. It provides text responses tailored to their code base.

Surge, whose five years will end in early 2024, has emerged as the most influential early-stage investor in India and Southeast Asia. The program, which also invites other select investors in the ecosystem to evaluate and participate in crowdfunding startups, has backed more than 140 companies to date, raising a total of more than $2 billion in follow-on funding. are

Surge, which creates two cohorts annually, maintains a portfolio size for each cohort. This allows Peak XV partners and other team members to interact closely with founders and provide guidance on a range of topics from product strategy to the startup’s mission statement. A Surge startup raises up to $3 million in seed funding, a feature that, along with access to a vast and arguably unparalleled pool of resources, sets Peak XV’s program apart from other market offerings.

The new group also comes at a time when many other VC funds in India are also trying or re-trying to build their own versions of Surge programs. Singh said that increased competition among venture firms would be a good thing for founders and the ecosystem.

The new fund also includes two Australian startups for the first time since Peak XVs split from Sequoia US. It’s not the first time Surge or any other Peak XV arm has backed an Australian startup, but Singh confirmed it’s a country the investment firm is actively evaluating, particularly for software companies.

Our skills in helping companies go to the US, cross-border startups We have over 100 investments in software companies where we try to help them build global businesses, the same skill set is very applicable to software startups in Australia. Almost all software startups in Australia also have ambitions to build global companies. Because of that, he said, they see us as a good fit, and it improves our calibration and exposes us to a new market where we find quality companies in general.

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