Sequoia India Capital stated in a blog post that its early-stage startup accelerator Surge will increase its seed investment range to $3 million.
In its current avatar, Surge invests in seed rounds for $1 million to $2 million. They are extending the range up to $3 million, and with no minimum. This will allow them to make Surge relevant for a far larger set of founders, including those who are just starting up or those who have already raised a seed.
“The market may be slowing, but Surge is expanding. Given the extraordinary founder response and feedback we have received over the first six cohorts, we are widening the funding aperture for Surge startups” the company stated.
“Raising the ceiling gives early-stage founders the runway and time they need to find product-market fit and build a strong team before raising a Series A. This is critical in any market cycle, and even more so at a time when investors are being more cautious and follow-on rounds may take longer to close”, the blog stated.