Accel to raise $700 million for its 6th fund in India

Accel is cutting big cheques to focus more on the well-performing portfolio.

Syamil Faisal

4 Oct, 2019

Accel to raise $700 million for its 6th fund in India | BEAMSTART News

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Accel invested $100 million into Flipkart over the years since 2009, bagging the company a staggering $1.2 billion when Walmart acquired a 77% stake of the company last year.

This success leads to the new fund coming in, seeing an amount between $600-700 million as India undergoes another boom cycle.

On another note, Swiggy; an online food delivery company under Accel’s seed funding belt, is now valued at $3 billion.

In addition to that, Accel-backed UrbanClap doubled its valuation after a $7.5 million funding led by Tiger Global.

The total startup fund for Accel in the first 9 months of 2019 is $10.9 billion — 25% more than last year during the same period.

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