Surge, Sequoia Capital India’s rapid scale-up program in Southeast Asia and India has launched its fifth and largest cohort of 23 early-stage startups with a $55-million funding from Surge and co-investors.
Notably, the latest cohort of startups from Southeast Asia and India include 10 women founders, the most since Surge first started two years ago in March 2019. The latest program will kick off on June 30.
With the latest startups, the Surge community now has 203 founders from 91 startups building companies across more than 15 sectors, further signalling the growing confidence in Southeast Asia and India’s seed-stage ecosystem and high-caliber founding teams, according to an announcement.
“We are incredibly proud of all 23 companies who have joined Surge 05 and the founders who have forged their businesses in sectors that have seen tremendous tailwinds, according to Rajan Anandan, managing director at Surge & Sequoia India.
The companies from Surge’s fifth cohort are headquartered in Singapore, Indonesia, Vietnam, Hong Kong, India, and the US.
Out of the 23 companies, a majority of 13 companies in the financial technology, payments, communications, logistics, and SaaS sectors are creating products and services to help companies work smarter, better, and seamlessly across borders.
Five companies are helping consumers live better lives and improving livelihoods, from advanced farming technology to leveraging gaming to revolutionizing health and personal care.
“These companies bring a brand new perspective to the importance of human well-being, driven by major lifestyle shifts as a result of the global pandemic,” according to the announcement.
Four companies are transforming the delivery of education and leading the way in digital mentoring, equipping developers with big data and data science, skills training, and virtual, borderless internships.
Surge founders go through a rigorous 16-week virtual program, designed to scale up their businesses and provide them with access to 49 years of Sequoia’s global tribal knowledge, combined with tools and experience from a network of successful company builders.
“At this inflection point of global regrowth, we are excited to be part of the journey of our founders and their companies, many of which we believe will grow into large, enduring businesses,” said Anandan.