NEW DELHI, March 29: Venture capital major Accel has selected eight startups with specialised solutions in AI and Industry 5.0 for ‘Atoms 3.0’, its six-month accelerator programme that hand-holds and nurtures ventures to give them more firepower to unlock growth and collaboration opportunities.
Atoms 3.0 offers up to USD 500,000 in funding, access to more than USD 5 million in perks, personalised mentorship, and a vibrant founder community network, the global venture fund that counts Flipkart, Cure.fit, Ninjacart, Swiggy and BookMyShow among its portfolio companies said.
Atoms 3.0 mentors exceptional pre-seed startups dedicated to advances in cutting-edge domains such as Artificial Intelligence and Industry 5.0 (new-age model that refers to humans working alongside smart machines).
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“The shift to a thematic programme design for Atoms 3.0 has enabled us to provide deeper, sector-focused mentorship for the startups. Atoms has always restricted itself to smaller cohort sizes to stay hyper-focused on the needs of a smaller group of exceptional founders,” said Prayank Swaroop, a partner at Accel.
The eight startups in the third cohort represent the “next wave of disruptors in AI and Industry 5.0”, he said.
Of Accel’s line up of eight startups, four are pushing new frontiers in AI. The list includes Tune AI, which offers a GenAI stack for enterprises; Skoob, a generative AI platform for enhancing reading experiences; Meritic, a financial storytelling co-pilot; and Arivihan, India’s first fully automated AI-based learning platform.
In the Industry 5.0 space, Spintly provides an IoT (Internet of Things) platform for smarter building management, while Asets brings in a multidisciplinary CAD (computer aided design), simulation, and engineering design platform.
The other two startups are currently in “stealth mode”.
“The six-month Atoms 3.0 journey is giving founders insight into critical areas like hiring, getting your first 10 customers, or tuning your pitch for investors,” said Barath Shankar Subramanian, another partner at Accel.
During the past two editions of Atoms, Accel had taken a sector-agnostic approach. Now with Atoms 3.0, the VC firm has shifted its strategic focus to becoming a mentor that supports startups in the fast-evolving technology landscapes of AI and Industry 5.0.
Swaroop and Subramanian, Accel partners leading the AI and Industry 5.0 domains respectively, are of the firm belief that while these two areas present incredible opportunities, the pace of innovation in these categories requires founders to have the right mindset for navigating the market, and sector-focused mentorship.
Accel’s Atoms programme has been instrumental in the success of numerous category-defining start-ups across India, such as Flipkart and Swiggy. With over USD 200 million raised by the 24 startups from the first two cohorts, Atoms 3.0 continues this legacy of fostering innovation and entrepreneurial success, according to a statement by Accel.
Beyond capital, the programme offers founders access to networking and learning sessions.
Pallavi Chakravorty, co-founder and CEO of Meritic, a beneficiary of Atoms 3.0, noted that beyond the capital and learning sessions, being part of Atoms has given the venture a strong founder community and highly collaborative network of over 200 portfolio company founders.
“We’ve been through many renowned accelerators. But what makes Atoms stand out above the others is its extremely engaging programme design, which was enormously useful for us as early-stage founders – with sessions by subject matter experts and operators who have built successful companies. I’d recommend the programme to anyone looking for mentorship in any area. Atoms accelerates growth exponentially, positioning pre-seed founders for long-term success,” added Naman Maheshwari, co-founder, Tune AI.
According to Rohin Parkar, co-founder and CEO of Spintly, Accel Atoms should be the first choice for startups looking to raise pre-seed and seed capital.
“The accelerator’s programme design which includes sessions on product market fit, GTM strategy and growth through marketing have helped us immensely. Further, the programme gives us unparalleled access to a network with the best of the best, and we have great support from Accel’s investment team in general,” Parkar said. (PTI)
