In March 2022, the VC firm announced its seventh India-focused fund worth $650 million to focus on early, seed, and pre-seed stage startups.

According to Accel, the latest fund attracted participation from 131 undisclosed investors, highlighting strong interest in the region’s entrepreneurial ventures.

Accel’s investment strategy targets founders developing enterprise AI solutions that leverage India’s extensive IT services expertise to offer automation products. Additionally, the firm aims to support consumer-oriented companies, wealth management startups, and manufacturing enterprises, showcasing a diversified approach to fostering innovation.

With over 16 years of operations in India and Southeast Asia, Accel has partnered with companies that have reimagined industries from e-commerce and SaaS to manufacturing. The fund has made substantial investments in companies across sectors such as Amagi, Acko, BlackBuck, BlueStone, BrowserStack, Cult.fit, Flipkart, Freshworks, Swiggy, Urban Company, and Zetwerk. The fund claims to be the first institutional investor in 80% of its portfolio companies.

Recently, the firm realized a substantial return by tendering 10.5 million shares during Swiggy’s IPO, achieving a 3391% gain based on its initial investment.

In recent years, Accel has launched several key initiatives. The firm’s open-source content and community platform, SeedToScale, democratize’s company-building knowledge with actionable insights from successful founders, operators, and industry leaders. Accel’s early-stage scaling program, Accel Atoms, now in its fourth iteration, has supported 36 startups that have collectively raised over $200 million to date.

The post Accel Unveils $650M Fund to Empower Early-Stage Startups in India & SEA appeared first on The India Bizz Startup News Website.

The post Accel Unveils $650M Fund to Empower Early-Stage Startups in India & SEA appeared first on The India Bizz Startup News Website.

The round also saw participation from existing investors such as Accel, General Catalyst, Bertelsmann India Investments, and Y Combinator.

The latest investment brings the startup’s total raised amount to over $47 million.

Aiming for growth and innovation

Orange Health plans to use the raised capital to expand product offerings, strengthen the team, and further innovate in diagnostics.

Since its inception in December 2020 by Dhruv Gupta and Tarun Bhambra, Orange Health has focused on providing on-demand diagnostic services.

The startup offers at-home sample collection services in Bengaluru, Gurugram, Delhi, Noida, and Ghaziabad. It claims to have served over 1 million customers so far.

Growth and profitability  

Orange Health claims that it operates six labs and has been partnering with over 1,000 clinics. Notably, the startup has achieved profitability in Bengaluru and recently crossed an annual revenue run rate of Rs 100 crore

It plans to continue this upward trajectory with a target of 100% growth in the coming year.

Amazon Smbhav Venture Fund, launched in 2021 with $250 million to support Indian startups, has also invested in companies like The Good Glamm Group, Cashify, Axio, and Smallcase. 

The post Diagnostics and healthcare startup Orange Health raises $12 million in funding appeared first on The India Bizz Startup News Website.

The post Diagnostics and healthcare startup Orange Health raises $12 million in funding appeared first on The India Bizz Startup News Website.