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Tuesday, June 18, 2024

Peak XV takes startups on a Silicon Valley journey in AI push


Peak XV, the enterprise capital agency that cut up from Sequoia Capital final 12 months, is taking its portfolio firms from India, Southeast Asia and Australia on an “immersion” journey to Silicon Valley this week to fulfill a number of trade titans, the most recent within the enterprise agency’s broadening choices and networking flex.

About 60 founders, many backed by Peak XV’s powerfully influential program Surge, will be a part of companions from the agency on the journey to fulfill trade leaders and go to AI analysis facilities, in line with a participant briefed on the matter.

The week contains technique classes with executives from OpenAI and Nvidia in addition to Sequoia accomplice Doug Leone, and talks from seasoned operators like Uniphore chief Umesh Sachdev and DoorDash advisor Gokul Rajaram, in line with an electronic mail the agency despatched to portfolio startups seen by TechCrunch.

This system, internally dubbed “Immersion Week,” is the most recent peek at Peak XV’s broadening roster past writing checks as competitors intensifies amongst enterprise traders looking for entry to essentially the most promising AI startups globally.

India, one of many largest startup ecosystems, presently lacks the depth in deeptech and AI startups. Only a few gamers in India try to construct foundational giant language fashions. Sarvam AI, one such startup, introduced a $41 million funding late final 12 months led by Peak XV and Lightspeed India and scored a partnership with Microsoft final week.

Traders say that many present startups in India are strategizing on what new capabilities to construct and find prospects abroad — and that’s the place a visit like ‘Immersion’ can show useful.

Peak XV, which has $2.5 billion to deploy within the area, has taken an aggressive method since its cut up final 12 months, quickly constructing out its bench energy and networking capabilities throughout geographies.

Peak XV didn’t instantly reply to a request for remark Monday morning. However within the electronic mail to portfolio firms over the weekend, Peak XV instructed founders the journey would “give attention to constructing world-class merchandise” and gaining “a glimpse into the AI world.”

Peak XV Managing Administrators Shailendra Singh, Rajan Anandan, Harshjit Sethi, Ashish Agrawal, and Surge Accomplice Pieter Kemps are amongst these internet hosting the week, in line with the particular person briefed on the matter.


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