Accel and Prosus selected six startups for their first joint cohort in India, championing what they call “off-the-map” ideas – companies tackling problems where markets are undefined and progress is difficult to measure.
The first cohort spans healthcare, climate, space and longevity and focuses on science-driven themes with long development timelines and uncertain commercial pathways. The six startups were selected from over 2,000 applications.
The selected startups are:
Praan develops air infrastructure systems to improve indoor air quality using purification, sensing, and automated control. The Mumbai-based startup has previously raised funding from investors such as Social Impact Capital, Aera VC, and Avarna Capital, as well as strategic investors and family offices. QOSMIC develops optical communication systems for data transfer between satellites and Earth. The Bangalore-based startup is working on increasing bandwidth and reducing latency in space-based networks. The Ethereal Exploration Guild, also known as EtherealX, is developing reusable orbital launch vehicles to reduce the cost of accessing space. The Bangalore-based startup last raised $20.5 million in a Series A round led by TDK Ventures and BIG Capital at a valuation of $80.5 million. Dognosis is working on using dogs' sense of smell with robotics and AI to detect multiple cancers in their breath. The company's product, BreatheEasy, allows patients to breathe into a mask and then the sample is analyzed in a lab to detect cancer-related markers. Fela is building a home-based strength training system to help people maintain mobility as they age. The system automatically adjusts the resistance to match the user's performance. A sixth startup is operating in stealth, developing brain-computer interfaces that enable direct communication between the human brain and external systems.
The program, announced in October, is aimed at backing startups that fall outside the industry's usual playbook, rather than those that are the easiest to raise money for, the companies said.
As part of the program, Accel and Prosus are co-investing in each startup, with Prosus matching Accel's investment with a check ranging from $500,000 to $2 million. Both companies have adopted structures that mitigate early dilution for founders by deferring some capital and relinquishing their shares at a later stage.
The companies say the model is designed for startups with long development cycles. “More than capital, we need time to make breakthroughs,” said Accel partner Pratik Agarwal (pictured above, left).
Ashutosh Sharma (pictured above, right), Head of India Ecosystem at Prosus, says these companies often follow a non-linear path. He said progress depends on achieving significant technological breakthroughs, rather than steady growth.
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