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Monday, February 12, 2024

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

Peak XV, the enterprise capital agency that break up from Sequoia Capital final yr, is taking its portfolio firms from India, Southeast Asia and Australia on an “immersion” journey to Silicon Valley this week to satisfy a number of business titans, the newest 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 satisfy business leaders and go to AI analysis facilities, in keeping with a participant briefed on the matter.

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

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

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

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

Peak XV, which has $2.5 billion to deploy within the area, has taken an aggressive method since its break up final yr, quickly constructing out its bench power 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 advised founders the journey would “deal with 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 keeping with the particular person briefed on the matter.

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