Accel is considered one of the top venture firms in India, with nearly two dozen Indian unicorn startups under its belt. The partners leading the firm’s early-stage accelerator program, Atoms, have been introspective about their learnings and changes to improve success rates.
Prayank Swaroop, a partner at Accel, highlighted the belief that all VC firms eventually look the same to founders, emphasizing the importance of more than just monetary value. Accel has shifted its focus to making early-stage investments in India to increase the likelihood of significant returns.
Before launching Atoms, Accel explored different approaches, such as building a knowledge base with SeedtoScale. However, the firm realized that they needed a unique path and made adjustments along the way.
Accel’s third cohort of Atoms features eight startups operating in AI and Industry 5.0. Each selected startup receives up to $500,000 in pre-seed funding with no valuation cap. Accel also helps the startups connect with industry players for future partnerships and customer opportunities.
The selected startups in the third cohort include Spintly, Asets, Tune AI, Skoob, Arivihan, and Meritic. The themes of AI and Industry 5.0 were chosen due to their predicted growth and opportunities in the coming years.
Barath Subramanian, the partner leading Atoms, highlighted the potential in modernizing archaic plants in India through Industry 5.0 technologies. The sector is set to benefit from government incentives and the ‘China + 1’ shift among global firms.
Accel received over 800 applications for Atoms 3.0, with a focus on AI startups solving HR and marketing challenges. The program has provided a strong founder community and collaborative environment for startups to learn and grow.
Pallavi Chakravorty, co-founder and CEO of Meritic, praised the support and resources provided by Atoms, including the Founder Anonymous sessions and GTM talks that have been instrumental in shaping their business strategy.
