With new $650 mn war chest for India, Accel eyes AI, fintech startups

Global venture capital firm Accel on Monday announced that it has raised a $650 million early-stage fund to fuel the next generation of category defining startups in the focus sectors of artificial intelligence (AI), consumer, fintech and manufacturing.

Accel is the first institutional investor in 80 per cent of its portfolio companies. Its prominent portfolio companies include BlackBuck, BlueStone, Cult.fit, Flipkart, Freshworks, Swiggy, Urban Company and Zetwerk.