Peak XV Launches Spark 03 Cohort with 14 Startups & 16 Female Founders

New Delhi, Feb 26 (PTI) Venture capital firm Peak XV, formerly Sequoia Capital India and South East Asia, on Monday said it has launched new startup cohort Spark 03 with 14 companies that include 16 female founders.

Artificial Intelligence (AI) and healthtech dominate this cohort with four companies in AI and four in healthtech, while others in the group are engaged in building software as a service (SaaS), consumer and B2B platforms, Peak XV said.

"Out of the many applications we received for this cohort of Spark, these 16 founders really impressed us with their ambition, first principles thinking and rich operating experience. Many of them are second-time founders. We're excited to see them develop into leaders of tomorrow," Peak XV managing director Sakshi Chopra said in a statement.

Spark has till date three cohorts covering 48 founders and 41 startups across more than 10 sectors in less than three years.

"AI and healthtech dominate this cohort with four companies in AI and four in healthtech. Others are building across SaaS, consumer and B2B," the statement said.

The four companies focusing on AI include RaptorX.ai engaged in fraud detection and prevention platform helping businesses assess cyber risks, digital platform FOBOH that helps food and beverage wholesalers scale sustainably, travel platform Traverse, and Wordsworth AI which will focus on e-commerce.

The other four companies focused on healthtech solutions include a full-stack paediatric service firm BabyMD, an AI-powered mental health platform Soulside, a chain of dermatology clinics offering tailored services Evenly, and a company currently in stealth.

Other companies include Profit Peak, a SaaS platform aiming to provide e-commerce businesses with actionable data insights to boost profitability, Fix My Curls which is a hair care brand curated to cater to naturally textured hair, Meritic which helps mid-market companies automate their reporting and analytics, and Melvvi which is engaged in developing handmade and sustainable lifestyle products etc.

Over the last 18 years of our operations in the region, Peak XV has grown to manage over USD 9 billion in capital across 13 funds and invested in over 400 companies. The portfolio has seen 20 initial public offerings (IPOs).