Report: Accel preparing Cult.fit IPO and bolstering AI deep tech
Venture capital giant Accel is reportedly gearing up for an IPO of Cult.fit, before the year wraps up.
This move follows big wins like Moneyview's recent IPO, which brought in over ₹1,000 crore.
Subrata Mitra, Partner at Accel, says the firm is doubling down on AI, deep tech, and defense tech investments.
Accel keeps nearly 70% Moneyview stake
Accel's strategy is all about boosting its companies with AI to make them run smoother and prepping them for public markets.
It has had solid exits with brands like BlueStone Jewellery and Lifestyle and Rentomojo.
Even after selling some shares in Moneyview's IPO, Accel still owns nearly 70%, showing it's in it for long-term growth.
Plus, its global bets include U.S.-based AI startup Anthropic, highlighting how it's backing innovative tech worldwide.