Peak XV, formerly known as Sequoia Capital India & SEA, has recently announced the launch of its third cohort of the Spark fellowship, specifically designed to empower female founders in the startup ecosystem. The initiative reflects Peak XV’s commitment to fostering diversity and inclusion within the entrepreneurial landscape. A total of 14 companies and 16 female founders have been carefully selected to participate in Spark 03, marking a significant milestone for the program.
Sakshi Chopra, Managing Director of Peak XV, expressed enthusiasm about the quality and potential of the selected founders, stating, “Of the many applications we received for this cohort of Spark, these 16 founders really impressed us with their ambition, first principles thinking, and rich operating experience. Many of them are second-time founders. We are excited to see them develop into leaders of tomorrow.”
The latest cohort expands Peak XV’s curated community of startups, which now encompasses 48 founders and 41 startups spanning over 10 sectors in less than three years. The diversity of industries represented within the cohort underscores the program’s broad reach and impact across various domains of innovation and entrepreneurship.
Among the participating companies, four specialize in artificial intelligence (AI) – RaptorX.ai, FOBOH, Traverse, and Wordsworth AI – while an equal number focus on healthcare (BabyMD, Soulside, Evenly, and Stealth). Other ventures include Profit Peak, an SaaS for e-commerce businesses; Fix My Curls, a hair care brand; Meritic, aiding mid-market firms in automating their reporting and analysis; Melvvi, crafting handmade and sustainable lifestyle products; CHOSEN, producing high-performance skincare products; and Sourced, constructing an AI-powered consignment platform.
The Spark initiative offers a comprehensive four-month-long program, complemented by a $100,000 equity-free grant, tailored to support female founders in the early stages of their startups. Each selected startup benefits from perks exceeding $1 million from various companies, including cloud credits, devtools, analytics, and more, providing invaluable resources to fuel their growth and development.
The Spark fellowship serves as a testament to Peak XV’s dedication to fostering diversity, empowering female entrepreneurs, and driving innovation within the startup ecosystem. By providing tailored support, mentorship, and resources, Peak XV aims to catalyze the success of women-led startups and contribute to the advancement of the global entrepreneurial community.