Venture capital giant Accel has pulled in $550 million for its new India-focused fund, announced just 19 months after its last one.
This is part of a bigger $3.5 billion global fundraising push.
Even with over half its previous fund still unused, Accel is doubling down on India's startup scene.
Accel backs early-stage startups, $1.35B support
The new fund will back early-stage companies in AI, consumer internet, fintech, and advanced manufacturing.
Accel sees AI as a tool that powers many industries, like how their portfolio company RapidClaims uses AI to automate medical coding in US healthcare.
Plus, with support from a $1.35 billion global growth fund, Accel aims to help Indian startups grow from launch all the way to IPO and beyond.