VCs back AI startups to shake up Indian IT services industry

A new wave of AI-first startups is catching the attention of top-tier venture capital firms, as they look to back companies reinventing traditional IT services.

Peak XV Partners, Stellaris Venture Partners, Accel, and Elevation Capital are among the country’s top venture capital firms which are scouting for artificial intelligence (AI)-first startups to place early bets, several investors told ET.