Venture capital firm Peak XV has launched the third cohort of Spark with 16 female founders across 14 startups.
Women founders building artificial intelligence and healthcare solutions form the majority of the current cohort, with four companies in each of the categories, with the rest operating in SaaS, B2B and consumer segments.
The Spark Fellowship is a four-month long programme for early-stage female entrepreneurs that includes a $100,000 equity-free grant along with access to domain knowledge, mentorship, a curated community of female founders and exclusive events. Each startup will also receive over $1 million in perks from other companies from cloud credits and devtools to analytics and more.
Since the programme’s launch in 2021, Peak XV (formerly Sequoia Capital India) claims to have curated a community of startups under Spark, which now includes three cohorts, 48 founders and 41 startups across more than 10 sectors.
“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,” said Sakshi Chopra, Managing Director, Peak XV.
The four companies focusing on AI include RaptorX.ai (an AI-powered fraud detection and prevention platform), FOBOH (an AI-enabled digital platform that helps food and beverage wholesalers scale sustainably, reduce waste, and get paid faster), Traverse (AI-led travel solution) and Wordsworth AI (personalisation for e-commerce businesses).
When it comes to healthcare, the four startups in the current cohort include BabyMD (a full-stack pediatric service), Soulside (an AI-powered mental health platform), Evenly (a chain of dermatology clinics offering tailored services) and one company currently in stealth mode.
Other companies in the cohort, operating in SaaS, B2B and consumer segments, include Profit Peak (a SaaS platform aiming to provide e-commerce businesses with actionable data insights to boost profitability), Fix My Curls (a haircare brand curated for naturally textured hair), Meritic (which is helping mid-market companies automate their reporting and analytics), Melvvi (handmade and sustainable lifestyle products) and CHOSEN (high-performance skin care products with cosmeceutical and nutraceutical offerings) and lastly, A-Sourced (which is building an AI-powered consignment platform).
Peak XV (formerly Sequoia Capital India & SEA) is a leading venture capital firm investing across India, Southeast Asia and beyond. The VC firm manages over $9 billion in capital across 13 funds, with over 400 portfolio companies, including India’s unicorns BYJU’s, BharatPe, CRED, Apna & others.
(Edited by : Pihu Yadav)
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