Unveiling the Hidden Gems: Accel and Prosus Select Six Innovative Startups for India Cohort

Accel and Prosus Select Six Startups for Inaugural Joint Cohort in India

Venture capital firms Accel and Prosus have chosen six startups for their first collaborative cohort in India, endorsing what they refer to as “off-the-map” concepts. These companies are dedicated to addressing issues in undefined markets with challenging progress evaluation.

The initial cohort covers various sectors including healthcare, climate, space, and longevity, showcasing a focus on science-driven themes with extended development timelines and uncertain commercial trajectories. Out of over 2,000 applications, these six startups were carefully selected.

Selected Startups:

• Praan: This Mumbai-based startup is developing air infrastructure systems to enhance indoor air quality through purification, sensing, and automated controls. Praan has secured funding from investors like Social Impact Capital, Aera VC, and Avaana Capital, in addition to strategic investors and family offices.
• QOSMIC: Based in Bengaluru, QOSMIC focuses on developing optical communication systems for data transfer between satellites and Earth, aiming to boost bandwidth and reduce latency in space-based networks.
• Ethereal Exploration Guild (EtherealX): EtherealX, located in Bengaluru, is working on reusable orbital launch vehicles to decrease the cost of space access. The startup recently raised a $20.5 million Series A round led by TDK Ventures and BIG Capital.
• Dognosis: Dognosis is dedicated to detecting multiple cancers through breath analysis, utilizing dogs’ keen sense of smell alongside robotics and AI. Their product, BreatheEasy, involves patients breathing into a mask, with subsequent analysis in a lab to identify cancer-related markers.
• Ferra: Ferra is developing a home-based strength-training system to assist individuals in maintaining mobility as they age. The system automatically adjusts resistance to match the user’s performance.
• Sixth Startup (Stealth Mode): This undisclosed startup is working on brain-computer interfaces to facilitate direct communication between the human brain and external systems.

Launched in October, the program’s objective is to support startups deviating from conventional industry norms, prioritizing those with unique and challenging concepts over easily fundable ventures, according to the firms.

Under this initiative, Accel and Prosus are jointly investing in each startup, with Prosus matching Accel’s investment. The funding ranges from $500,000 to $2 million, utilizing a structure that minimizes early dilution for founders by deferring a portion of the capital to a later stage.

The firms emphasize that this model is tailored for startups with extensive development cycles, recognizing that beyond financial support, these ventures require time to achieve significant breakthroughs, as stated by Pratik Agarwal, partner at Accel.

Ashutosh Sharma, head of India ecosystem at Prosus, highlights that these startups often follow a nonlinear growth trajectory, with progress contingent on crucial technical advancements rather than consistent expansion.