Prosus N.V., the listed internet group chaired by South African billionaire Koos Bekker, has partnered with U.S.-based venture capital firm Accel to co-invest in early-stage Indian startups focused on advanced manufacturing, energy transition, and artificial intelligence-based automation, the companies said in a joint statement.
This expands Accels Atoms X, an early-stage founder program that supports entrepreneurs building scalable businesses. Under the new arrangement, Prosus will match Accels investments in each selected company. Combined seed funding for startups under the program will range between 200,000 and 2 million, according to Accel partner Pratik Agarwal.
In the beginning, each of us will invest between 100,000 and 1 million, Agarwal said. That kind of support can make a real difference for these early-stage founders. Hopefully, well find more opportunities to double down on the best ones.