The third cohort of Accel includes startups like Spintly, an IoT platform for access control; Asets, an AI-powered design suite; Tune AI, a GenAI stack for enterprises; Skoob, a generative AI platform for book reading; Arivihan, an AI-based learning platform; and Meritic, a storytelling co-pilot for financial planning and analysis. Two startups remain in stealth. Accel chose AI and Industry 5.0 as the themes for Atoms, believing these sectors will grow significantly in the next decade. Over 800 startups applied for Atoms 3.0, with a majority focusing on AI solutions for HR and marketing problems.
Key takeaways:
- Accel's early-stage accelerator program, Atoms, has been focusing on making early-stage investments in India, particularly in AI and Industry 5.0 startups, as part of a strategy to improve their returns due to a lack of billion-dollar exits in the country.
- The third cohort of Atoms features eight startups, all operating within AI and Industry 5.0 sectors, with Accel investing up to $500,000 in each startup's pre-seed round without a valuation cap.
- Accel has stopped trying to initiate mingling between Atoms portfolio startups and other investors, after feedback from founders indicated discomfort with the practice.
- More than 800 startups applied to be in Atoms 3.0, with nearly two-thirds of all pitches focusing on AI startups aiming to solve HR and marketing problems.