Accel Raises $550 Mn For India's Next Wave Of Founders

A company called Accel helps new businesses get money to start and grow.

It is famous for being one of the first to invest in big Indian companies like Flipkart and Swiggy.

Now Accel has gathered $550 million to help a new group of young companies in India.

This money is for its ninth early-stage India fund.

Altogether, Accel is raising $3.5 billion for four new projects around the world.

Part of that money will go into a $1.35 billion fund for growing companies.

Accel has put $1.2 billion into India in just 18 months.

That is a record pace for fundraising at this scale in the country.

The team at Accel believes India is a great place to find the next big idea.

They say artificial intelligence is arriving in India at the same time as everywhere else.