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Accel launches Atoms programme to back early start-ups
August 31, 2021
Accel has launched Atoms, a pre-seed funding program, through which it will put $250,000 in start-ups without taking any stake in the organization (or uncapped convertible) as the worldwide venture capital firm jostles to grab share in an increasingly crowded early-stage investment universe.
Through the drive, Accel is hoping to offer one-to-one mentoring for start-ups, rather than a cohort approach taken by the accelerator programs of VC firms such as Sequoia Capital and Lightspeed Venture Partners. “This $250,000 will convert into equity in the next round valuation of the startup,” Accel, which has been operating in India since 2008, said.
Some of its portfolio organizations include Flipkart, Swiggy, Urban Company, Vedantu, Spinny, Freshworks, BrowserStack, Mindtickle, Zenoti, Chargebee, FalconX, Rupeek, Acko, Samunnati, MoneyView, Zetwerk, BlackBuck, Moglix, Agrostar, Infra.market, and MyGlamm.
It has invested in 150 organizations so far in India.
“We believe that finding 5-10 excellent mentors who at any point of time work with only 1 to 2 start-ups and go through 2-3 hours out of every month with the startup, is an obviously better model to get personalized attention for the startup,” said Manasi Shah, VP at Accel.
Important Links:
- Post Graduate Diploma in Management (PGDM): https://tscfm.org/courses/3-in-1-management-program/