Peak XV Raises Surge Seed Cap to $5M, Backs 18 Startups in Surge 12 Cohort

Peak XV Partners has raised its per-company seed investment ceiling to up to $5 million from $3 million and unveiled Surge 12, an 18-startup cohort spanning AI, robotics, space, healthcare and fintech. The firm invested more than $50 million across the cohort, which has collectively raised over $90 million in seed funding, Peak XV said on September 29, 2026. Managing Director Rajan Anandan cited a higher bar for Series A rounds and more capital-intensive deeptech startups raising larger seed rounds as reasons for the increase. Just five of the 18 startups target the Indian market; more than half are based in India, with founders from San Francisco to Sydney. Three companies have not disclosed names or products. Since Surge launched in 2019 under Sequoia Capital India, it has backed more than 180 startups across 18 nationalities.