Accel Atoms 4.0: USD 1 Million for AI 'Bharat' Startups

New Delhi, Sep 11 (PTI) Global venture capital firm Accel on Wednesday announced the launch of Accel Atoms 4.0, the fourth edition of its pre-seed scaling programme, Accel Atoms, that offers chosen startups up to USD 1 million funding along with perks of over USD 5 million from Accel network partners.

Accel Atoms 4.0 builds on the success of three previous editions, and is designed to make the journey as frictionless as possible for visionary founders and promising entrepreneurs operating in the two distinct cohorts of AI and Bharat, the VC firm said in a release.

Accel Atoms 4.0 is inviting applications from two categories of pre-seed startups - those building for ‘Bharat', and AI (Artificial Intelligence), it said. Applications for the programme open on September 16.

Accel defines ‘Bharat' as the middle-income households spread across Tier 2, Tier 3, and rural India.

Startups at the pre-seed stage, including idea-stage and pre-product companies, are eligible to apply for this rigorous three-month hybrid programme.

“Selected startups will receive up to USD 1 million in funding through equity or convertible note, and access perks worth more than USD 5 million from Accel's network partners,” the release stated.

Founders in Accel Atoms 4.0 will also have access to Accel's global community of over 200 founders, mentors and potential customers.

Since its inception in 2021, Accel Atoms has supported 32 startups, which have collectively raised over USD 200 million so far, the firm said.

Companies such DhiWise, Material Depot, Nymble, Ripik, Rigi, and Spendflo have been part of past editions of Accel Atoms.

"The 'Bharat' opportunity is immense and we see multiple multi-billion dollar startups emerging from this opportunity. The top 20 per cent of the rural population has a higher monthly per capita expenditure or MPCE than about 50 per cent of the urban population - highlighting the substantial purchasing power that is often overlooked, “ noted Anand Daniel, partner at Accel.

"Innovative founders will leverage the infrastructural advancements in these regions to create scalable, economically feasible solutions tailored to Bharat's evolving needs. With Accel Atoms 4.0, we are excited to give founders the guidance, network of support, and capital to succeed at delivering solutions to the underserved audience in Bharat," he added.

Prayank Swaroop, partner at Accel, said Accel Atoms focuses on giving Indian-origin founders globally the best foundations for success.

"Accel has invested in over 27 early-stage AI companies by Indian-origin founders in the last two years. The Accel Atoms 4.0 AI cohort will have personalised one-on-one mentorship from global AI leaders of the Indian diaspora, and Accel's network of AI founders and senior level operators," Swaroop said.

Accel Atoms, he added, is setting the stage to support Indian founders "to build AI from India, for India and for the world”.

For the AI cohort, Accel is looking for startups by visionary Indian-origin founders based anywhere in the world building companies that are using AI innovatively for business applications or building development tools for the AI ecosystem.

This includes companies building compelling use cases across the AI stack from the foundational layer (small language models on the edge, data and models for modalities like video and robotics, and more) to the infrastructure layer (testing tools and frameworks, securing complex LLM-powered systems, among others) and application layer (core AI models and agents across use cases).

For the 'Bharat' cohort, Accel is looking to back founders building for 'Bharat' across sectors, the release stated.

The global VC fund is looking at emerging e-commerce companies (building efficient supply chains and the right customer experience), financial services startups targeting individuals or businesses in Bharat, healthcare platforms and solutions making healthcare accessible and affordable; ed-tech, upskilling and recruitment platforms, OTT and content platforms, and emerging Bharat-first brands.

Accel has been operating in India since 2008, and its investments include BookMyShow, BrowserStack, Flipkart, Freshworks, Cure.fit, Mensa Brands, Myntra, Swiggy, Urban Company, Zetwerk and Zenoti.