TECH NEWS

Accel closes oversubscribed $550M India fund within weeks, 19 months after its last

Accel has closed a new $550 million India fund, less than two years after raising its previous India-focused vehicle, as part of a coordinated $3.5 billion global fundraising effort.

The new India fund was oversubscribed and closed within weeks, people familiar with the matter told TechCrunch. Accel still has more than 55% of its previous $650 million India fund available for investment, the people said, underlining that the latest raise came despite ample capital remaining in its earlier vehicle.

The fundraising comes as Accel bets that India’s next startup wave will be driven not only by AI, but also by consumer internet, fintech, and advanced manufacturing. The firm believes that artificial intelligence is becoming a horizontal technology that underpins each of those sectors rather than a standalone investment category.

“There is a significant amount of money available in the market for early-stage investing in the categories we have always invested...

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Crypto impersonation scams grew 1,400% as AI supercharged fraud

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Made By Google Live Updates: Pixel 11 Series, HiLight, Tag, Watch 5 and More

These CMF Noise-Canceling Earbuds Are Just $2 Away From Their Lowest Price Ever

Windows 11's latest update quietly ends support for picture passwords

Crypto impersonation scams grew 1,400% as AI supercharged fraud