Global Venture Capital firm Accel forecasts to fund 25 Indian Startups in 2024

By Team Startupcity  |  Tuesday, 26 March 2024, 11:14 IST

Global Venture Capital firm Accel forecasts to fund 25 Indian Startups in 2024
The early-stage venture capital major, Accel is forecasting to generate investments in more than 25 Indian startups in 2024 & may establish as Fund focused on India in the upcoming years. 
According to the market intelligence venture Traxn, Accel had made 17 investments in the year 2023 & 51 in 2022.
Prashanth Prakash, Partner, Accel said, “We look at (launching) a fund every three to four years. We still have a lot of dry powder in our current fund and expect to invest in at least 15-25 companies this year”.
The prominent investments that the company made includes e-commerce giant - Flipkart, Freshworks, Swiggy & Spinny. The company also infused its capitak in digital learning platform Vedantu, Business-to-Business marketplaces such as Moglix, Infra.Market & Zetwerk & many others. According to Prakash, the key sectors such as agritech, artificial intelligence-AI, SaaS- Software as a Service, climate tech, manufacturing & B2B will be the focal point in this year & among the other players, India is one of the largest attractive markets for foreign companies & investors. 
Speaking to the Accel’s dedication, Prakash says, “We do spend a lot more time. Previously, there was a faster pace at which deals would go through — the timeframe from when you meet a company to when you give them a term sheet, and subsequently the final agreements. Previously, that was more like two to two and a half months. I see that now being three-four months. It’s almost doubled”.
Further he added, “Since foreign capital shied away from India for almost 18 months, big opportunities opened up for Indian investors. Investors were waiting for valuations to come down to levels that they were comfortable with. And, that has happened in the last two years”.
 

CURRENT ISSUE

BEST STARTUPS TO WORK FOR

siliconindia