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Accel has prove $ 650 million for its 8th India fund as the U.S. speculation house inflate its investment scheme in the South Asiatic mart .
The new fund come after the firm’sseventh India investment trust secure in March 2022 . Accel — which has backed company including e - commerce group Flipkart , food delivery program Swiggy , and software group Freshworks — has established itself as India ’s most successful speculation business firm , serve as the first institutional investor in its portfolio troupe .
The firm pen the first institutional cheque for Flipkart at a $ 4 million post - money rating — an investment that has since soar in note value , with Flipkart now worth more than $ 36 billion . Partner Anand Daniel led Swiggy ’s germ bout at a $ 2 million pre - money rating . Swiggy went public in November in what was thelargest global technology IPO of 2024 , at a valuation of $ 11.3 billion .
By 2022 , the firm ’s top - perform startups had collectively exceeded $ 100 billion in valuation .
The Indian startup dynamic has changed a hatful since Accel first record more than a decade ago . A cardinal shift has been the increasing telephone number of public listings , cover previous criticism . More than half a dozen Accel - backed Indian companies , include manufacture weapons platform Zetwerk and jeweler Bluestone , areset to go public this yr , TechCrunch previously reported .
“ India is fast becoming a promising hub for tech initial public offering driven by its strong Das Kapital markets and a thriving introduction ecosystem that continues to attract substantial investor interest , ” Daniel ( left in the above picture ) evidence TechCrunch in November .
Accel also remains one of the few Silicon Valley investors that has n’t separated its Amerindic unit of measurement , while competition Sequoia and Matrix have thin out ties with their respective India funds in recent old age .
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The firm has recentlydeepened its focus toward rural India , betting against conventional wisdom that commercial enterprise assist affluent consumers in smaller cities and towns can achieve sustainable success .
