Leading global venture capital firm Accel has unveiled the fourth edition of its pre-seed scaling programme, Accel Atoms 4.0, set to provide up to $1 million in funding to select startups. This initiative aims to foster innovation in artificial intelligence (AI) and ventures targeting the ‘Bharat’ market representing middle-income households across Tier 2, Tier 3, and rural India.

The new edition of Accel Atoms builds on the success of its previous iterations, designed to streamline and support the entrepreneurial journey from its earliest stages. Startups selected for the programme will receive funding through equity or convertible notes, along with perks exceeding $5 million, thanks to Accel’s extensive network of partners.

Accel Atoms 4.0 is divided into two key cohorts: one focusing on AI and the other on ‘Bharat’. The AI cohort is targeted at innovative startups led by Indian-origin founders globally, creating business applications or development tools utilizing AI. Meanwhile, the Bharat cohort seeks to back entrepreneurs developing scalable solutions tailored to the needs of rural and tiered urban areas in India.

Anand Daniel, Partner at Accel, highlighted the potential of the Bharat opportunity, emphasizing that rural areas in India offer significant purchasing power often underestimated. “The top 20 percent of the rural population has a higher monthly per capita expenditure than 50 percent of the urban population”, Daniel said. He further explained that innovative solutions leveraging infrastructural advancements in these regions can create substantial impact. “With Accel Atoms 4.0, we are excited to provide founders with the guidance, support network, and capital to address the evolving needs of Bharat's underserved market”.

Prayank Swaroop, another Partner at Accel, underscored the firm’s commitment to supporting Indian-origin founders worldwide. “In the past two years, Accel has invested in over 27 early-stage AI companies led by Indian-origin founders. The AI cohort of Accel Atoms 4.0 will benefit from personalized mentorship from global AI leaders of the Indian diaspora, as well as access to Accel’s network of AI founders and senior operators”, Swaroop explained. The aim is to empower these founders to build AI solutions from India, for India, and the world.