Peak XV ups Surge seed investment ceiling to $5M, unveils 18-startup cohort

Peak XV Partners, a major venture capital firm investing in India and Southeast Asia, has increased the maximum seed funding it provides through its Surge platform from $3 million to $5 million per company. The firm announced its latest cohort of 18 startups, called Surge 12, which collectively received over $90 million in seed funding with Peak XV investing more than $50 million across the group. This matters because the higher investment ceiling reflects a shift in the market, as executives at Peak XV note that the bar to raise Series A funding has increased significantly and more capital-intensive companies, particularly in deeptech, are raising larger seed rounds. Since launching Surge in 2019, Peak XV has backed more than 180 startups across multiple cohorts that now generate over $1 billion in combined annual revenue.