Peak XV Invests in 23 AI & Fintech Startups Amidst Funding Dip

Peak XV Partners, formerly Sequoia Capital India & Southeast Asia, has invested in 23 early-stage startups through its Surge 11 cohort, defying the broader trend of declining startup funding in Asia. Despite a 26% year-over-year decrease in regional funding to $65.8 billion in 2024, a ten-year low according to Crunchbase data, Peak XV continues to actively support emerging companies. The Bangalore-based venture capital firm, managing over $9 billion in assets, will allocate up to $3 million to each company selected for Surge 11. This cohort is primarily composed of artificial intelligence companies focusing on both enterprise and consumer applications. Rajan Anandan, Managing Director of Peak XV and Surge, noted the rise of innovative consumer AI ventures within the group. Launched in 2019, the Surge platform has invested in over 170 startups, providing comprehensive support through workshops and a U.S. conference featuring prominent tech leaders such as Sam Altman of OpenAI and Jensen Huang of Nvidia. Notable alumni include Airalo, a Singapore-based eSIM unicorn. Among the new cohort are Finster, an AI platform for equity research tools founded by former Google DeepMind engineer Siddhant Jayakumar, and Ten X You, a sportswear startup. Anandan emphasized that Surge 11 "truly offers a glimpse of the future" for fintech and consumer companies in India and the wider Asian region.