Companion Labs, a consumer AI startup building entertainment-led interactive experiences, has raised $2.5 million in a seed funding round led by Peak XV’s Surge programme.
The round also saw participation from All In Capital, UntitledVC, DeVC, and a group of angel investors.
The fresh capital will be used to speed up product development, deepen AI capabilities, and refine the platform as the company works towards achieving product–market fit, the startup said.
Founded in early 2025 by Akshay Jhanwar and Ajit Pol, Companion Labs focuses on building AI-powered, character-driven experiences tailored for India’s vernacular and culturally diverse audiences. The founders bring prior experience from companies such as CRED, Flipkart, and the gaming ecosystem.
The startup operates at the intersection of AI and entertainment, enabling users to explore alternate lives, careers, and aspirations through locally rooted narratives and AI-generated characters. Its products are designed with language, culture, and social context at the core, especially for users outside metro cities.
Companion Labs is building primarily for Tier 2, Tier 3, and Tier 4 markets, with a focus on vernacular languages including Tamil, Telugu, Gujarati, Punjabi, Marathi, and Bengali. The company aims to create a new category of AI-native entertainment built specifically for India’s fast-growing vernacular internet population.
Peak XV Partners has confirmed through a LinkedIn post that senior leaders Ashish Agrawal, Ishaan Mittal, and Tejeshwi Sharma have exited the venture capital firm, marking another round of changes within its leadership and investment team.
According to the firm, the exits were mutually decided and are aligned with Peak XV’s plans to evolve its investment capabilities in response to rapid changes driven by artificial intelligence. The firm reiterated that it remains deeply committed to the Indian venture ecosystem, where it has been investing for over two decades.
In its LinkedIn statement, Peak XV said it has partnered with hundreds of founders over the last 20 years, helped build multiple scaled companies, and supported 36 IPOs. The firm noted that building an enduring institution requires long-term commitment, strong values, and the ability to adapt, especially in an era of unprecedented change led by AI.
Peak XV stated that it had mutually decided to part ways with Ashish Agrawal, citing the long-term interests of its Limited Partners and the firm. Following Agrawal’s departure, Ishaan Mittal and Tejeshwi Sharma also chose to step away and join him. The firm added that these changes would allow it to make room for AI-native investors and rapidly evolve in an AI-first direction.
Separately, Ishaan Mittal announced his departure publicly, sharing that he is leaving Peak XV to build a new venture capital firm alongside long-time collaborators Ashish Agrawal and Tejeshwi Sharma. He noted that the trio, who have worked together for nearly 15 years, are pursuing the launch of an independent investment vehicle.
In the wake of the exits, Peak XV has announced key leadership promotions. Abhishek Mohan has been elevated to Managing Director and General Partner from his earlier role as principal. Mohan joined the firm in 2018 and has worked on investments including Mokobara and The Whole Truth. Saipriya Sarangan has also been promoted to Chief Operating Officer, moving up from her role as chief people officer.
The departures add to a period of leadership churn at Peak XV since its rebranding from Sequoia Capital India & Southeast Asia in 2023. Over the past two years, several senior executives, including Shailesh Lakhani, Abheek Anand, and Harshjit Sethi, have also exited the firm to pursue independent paths.
Peak XV reiterated that its primary commitment remains with its Limited Partners and founders, adding that it remains confident in its team, culture, and readiness for the next phase of its journey.
Bengaluru-based AI semiconductor startup Agrani Labs has quietly raised $8 million in a seed funding round and emerged from stealth. The round was led by Peak XV Partners, with participation from angel investors.
The fresh capital will be used to scale the engineering team and accelerate product development, as the startup works towards building globally competitive AI compute solutions from India.
Founded in 2024, Agrani Labs is led by a seasoned founding team comprising CEO Dheemanth Nagaraj, along with Ashok Jagannathan, Srikanth Nimmagadda, and Rajesh Vivekanandham. All four founders bring deep semiconductor expertise, having previously held leadership roles at Intel and AMD.
The company is focused on developing a high-performance AI GPU designed specifically for data centre workloads, a segment witnessing rapid growth amid rising global demand for AI infrastructure.
Agrani Labs is also building a proprietary software stack that includes compilers, system software, libraries, and AI frameworks, aimed at delivering tighter hardware–software integration and improved performance for AI workloads.
The startup has already made progress on early architecture and product definition, with initial versions of both its hardware and software stack in development. It is collaborating with academic institutions, semiconductor partners, government research bodies, and software ecosystem players to accelerate innovation and execution.
Bengaluru-based fintech startup GoodScore has raised $13 million in a funding round led by Peak XV Partners, with participation from Stellaris Venture Partners and Saison Capital.
The fresh capital will be used to enhance GoodScore’s AI-driven advisory engine, expand its product and technology teams, and scale its credit marketplace, connecting lenders with borrowers across the country.
The startup aims to refine platform capabilities and broaden reach in India’s rapidly growing credit ecosystem.
Founded in 2023 by Sanchit Bansal, GoodScore offers personalized, AI-powered insights that help users monitor and manage their credit health effectively. By aggregating credit bureau data and repayment information, the platform provides a single, consolidated view of financial obligations along with actionable guidance to improve credit scores.
In just a short time, GoodScore has amassed millions of users nationwide, seeing strong traction in Tier II and Tier III cities. The startup partners with leading financial institutions such as HDFC Bank, KreditBee, and Tata Capital to promote responsible credit behaviour and financial literacy.
Peak XV Partners (formerly Sequoia Capital India & SEA) has announced the eleventh edition of Surge, its flagship rapid-scale-up program designed for early-stage founders. Launched in 2019, Surge has grown into one of the most impactful startup platforms globally, with its portfolio now spanning over 170 companies, 400 founders, 17 nationalities, and 18 sectors.
To date, Peak XV’s Surge startups have raised more than $3 billion in follow-on capital, and the top ten have already crossed $1 billion in combined annual revenues.
The Peak XVSurge 11 cohort brings together 23 startups from India, Southeast Asia, the US, and beyond. This batch reflects the shifting priorities of the global startup ecosystem, where artificial intelligence continues to dominate.
Out of the 23 startups, 12 are AI-first ventures building across verticals, enterprises, and consumer-focused use cases. They are joined by 4 fintech innovators, 4 consumer brands, and 3 infrastructure and developer tools companies. Interestingly, three of the selected startups are still operating in stealth mode, underlining the cutting-edge nature of the cohort.
“AI is leading the charge, not just in enterprise applications but also in transforming traditional industries from banking and healthcare to semiconductors and manufacturing,” said Rajan Anandan, Managing Director at Peak XV Partners. “But AI is not the full story – we are now seeing the next wave of fintech companies and exciting new consumer companies in India and our region.”
As with past cohorts, Surge 11 startups will benefit from up to $3 million in seed funding, along with mentorship, global immersion programs, and company-building workshops. The initiative combines hands-on guidance in product, engineering, fundraising, and culture, designed to accelerate growth during the most critical stage of a company’s journey.
Meet the 23 Startups of Surge 11
Here’s a closer look at the companies that made it to the latest Peak XV Surge batch:
1. AIR Trading
Founders: Grant Brits, Tim Blundy | Founded: 2025 AIR Trading is building AI-native intelligent trading systems, aiming to create self-optimizing platforms that bring efficiency to financial markets through advanced algorithms.
2. Aretto
Founder: Satyajit Mittal | Founded: 2019 Aretto is a growth-adaptive kids’ footwear brand, offering shoes that expand with children’s feet using SuperGrooves and Infi-Knit fabric. Available via D2C and major e-commerce platforms, Aretto promotes healthy foot development.
3. Cybrilla
Founders: Anchal Jajodia, Satish Perala | Founded: 2010 Cybrilla powers the fintech ecosystem with its cloud-based API, Fintech Primitives, simplifying regulatory and technical workflows. It’s also a SEBI-registered Category I RTA.
4. Finster AI
Founder: Siddhant Jayakumar | Founded: 2023 Finster AI is an AI-native platform for finance professionals, automating research workflows and delivering insights faster. It is led by an ex-Google DeepMind AI researcher.
5. Ignosis
Founders: Chintan Sheth, Nirav Prajapati | Founded: 2022 Ignosis delivers financial data intelligence for the BFSI sector, empowering decision-making. It has already raised $1.5 million from Groww and LetsVenture.
6. Just Words
Founders: Jeff Hara, Neha Mittal | Founded: 2024 Just Words optimizes digital marketing content with AI. From emails to websites, it replaces traditional A/B testing with continuous AI-driven optimization.
7. NEAU
Founders: CoCo, Hanson | Founded: — NA NEAU is a premium active and outdoor lifestyle brand, combining proprietary fabric technology with modern design to deliver high-performance products.
8. Neude Skin
Founders: Aayshya & Advay Jhunjhunwala | Founded: 2022 Neude Skin is a milk-based skincare brand, blending natural ingredients with modern actives like hyaluronic acid and vitamin C. Its “Hi-Glaze Skin” concept targets sensitive skin.
9. Nirmata
Founders: Ritesh Patel, Damien Toledo, Jim Bugwadia | Founded: 2024 Nirmata provides an AI-powered control hub for Kyverno, detecting misconfigurations, generating fixes, and enforcing policy-as-code with full audit trails.
10. OnFinance
Founders: Anuj & Priyesh Srivastava | Founded: 2022 OnFinance is a GenAI SaaS platform for finance. Powered by its LLM NeoGPT, it offers AI copilots for research, wealth management, and sales. It recently closed a $4.2M Pre-Series A led by Peak XV.
11. Palo
Founders: Harry Jones, Jay Neo, Shivam Pankaj Kumar | Founded: — NA Palo equips short-form content creators with AI workflows, streamlining creation, tracking, and iteration with LLM-driven scalability.
12. Pre6
Founders: Amod Malviya, Rishi Kedia | Founded: 2024 Founded by Udaan cofounder Amod Malviya, Pre6 applies AI to modernize manufacturing processes, enhancing efficiency and precision.
13. Qbeast
Founder: Srikanth Satya | Founded: 2020 Qbeast is an optimization engine for Lakehouse platforms, enabling faster, more cost-efficient queries for Databricks, Snowflake, and Dremio.
14. Round1 AI
Founders: Jainam Talsania, Saumil Tripathi, Shreeyash Dharmadhikari | Founded: 2023 Round1 AI transforms hiring with AI-powered candidate screening. Professionals give a single interview that unlocks multiple job opportunities for six months.
15. SixSense
Founders: Akanksha Jagwani, Avni Agarwal | Founded: 2018 SixSense provides predictive insights for semiconductor manufacturing. Its no-code computer vision platform helps build and monitor deep learning models to boost yield and productivity.
16. Supanote
Founder: Samyukktha Thirumeni | Founded: 2024 Supanote automates admin tasks for behavioral health clinics, generating session notes, tracking therapy, and offering an AI scribe for clinicians.
17. Ten X You
Founders: Karan Arora, Karthik Gurumurthy, Sachin Tendulkar | Founded: 2024 Backed by cricket legend Sachin Tendulkar, Ten X You is an activewear and sports accessories brand, offering cricket gear, footwear, and apparel made in India.
18. Thanks
Founders: Cayley Ostrin, Doron Ostrin, Steven Tesoriero | Founded: — NA Thanks helps brands boost customer loyalty and revenue by designing personalized ad experiences and rewards programs.
19. Tonbo.io
Founders: Cream Tang, Tzu Gwo | Founded: 2022 Tonbo.io offers a serverless, edge-first database, enabling real-time analytics and embedded data ownership, challenging centralized systems.
20. Vault Wealth
Founders: Bilal Abou-Diab, Sami Abdul Hadi | Founded: 2022 Vault Wealth is a Dubai-based digital wealth management platform delivering institutional-grade advisory and personalized portfolios for high-net-worth individuals.
21. [Stealth Startup #1] – Operating confidentially, building in the AI space.
Peak XV Surge’s past cohorts have produced some of India and Southeast Asia’s most successful startups, including Plum, Atlan, MasterChow, and Elivaas. With the 11th batch, Peak XV is doubling down on AI while keeping a balanced focus on fintech, consumer brands, and infrastructure – sectors that continue to attract investor attention despite a challenging funding climate.
For early-stage founders, getting into Surge provides not just capital but also credibility, connections, and global visibility. With India’s AI, fintech, and consumer innovation markets expanding rapidly, the Surge 11 startups are entering the ecosystem at a pivotal time.
Generative AI startup OnFinance AI has raised $4.2 million in a Pre-Series A funding round led by Peak XV’s Surge.
The round also saw participation from Shyamal Hitesh Anadkat, Groww Founders’ Fund, MarsShot VC (Razorpay Founders’ Fund), Climber Capital, and existing investors Indian Angel Network (IAN) and Silverneedle Ventures (SNV).
The fresh infusion will be directed towards advancing OnFinance AI’s proprietary BFSI-focused large language models (LLMs), strengthening R&D, expanding its engineering and AI research teams, and accelerating its international expansion, particularly into MENA and the US markets.
Founded in 2023 by Anuj Srivastava and Priyesh Srivastava, the Bengaluru-headquartered company builds generative AI platforms for the Banking, Financial Services, and Insurance (BFSI) sector.
Its flagship solution, ComplianceOS, is powered by the proprietary NeoGPT LLM, India’s first BFSI-specific model trained on over 300 million regulatory tokens from SEBI, RBI, IRDAI, and AMFI publications.
Along with ComplianceOS, the company also offers InvestigativeOS, a platform that addresses KYC, cybersecurity and resilience compliance, vendor risk assessments, accessibility compliance, and AI-powered surveillance for market abuse, insider trading, and front-running.
OnFinance AI already counts major institutions such as BSE Limited, Kotak Mutual Fund, Nippon India Mutual Fund, Aditya Birla Capital Digital, and HDFC Securities among its clients.
Middle East-based consumer startup Amaani has raised $3 million in seed funding from Peak XV’s Surge, marking the venture fund’s first seed-stage and consumer investment in the MENA region.
The fresh capital will be used to scale AÏZA, Amaani’s debut Arab beauty brand, while laying the foundation for a broader portfolio of culturally inspired global beauty labels.
Founded by Shubham Poddar, a former Sequoia India investor, Amaani is building a platform of consumer brands rooted in Arabia.
The company is targeting the $12 billion GCC beauty and personal care market, which is growing at more than 12% annually and ranks among the world’s highest in per-capita beauty spending.
Amaani’s model combines Arab heritage with international innovation, blending regional ingredients such as dates, black seed, and bakhoor with clinical actives sourced from Korea, Japan, and Italy.
Its first brand, AÏZA, launched online in May 2025 and quickly crossed $2 million in annualised revenue within three months, driven by strong demand across the UAE and Saudi Arabia.
With its positioning, AÏZA is set to compete directly with leading beauty players such as Huda Beauty, Kayali, and The Giving Movement.
AI-powered B2B startup Metaforms has secured $9 million in a Series A funding round led by Peak XV Partners, with participation from Nexus Venture Partners and Together Fund.
The Bengaluru-based company plans to use the fresh capital to further strengthen its AI capabilities and market position in the research automation space.
The funding will be deployed to triple Metaforms’ engineering and AI research team in Bengaluru, enhance product development across areas like report generation and voice-based research, and deepen integrations with platforms such as Decipher, SPSS, and Confirmit.
The company is doubling down on infrastructure and talent to support large-scale market research operations globally.
Founded in 2022 by Akshat Tyagi and Arjun S, Metaforms is on a mission to transform the market research industry with AI agents that automate key workflows like survey programming, data cleaning, and vendor coordination. The platform enables agencies to scale efficiently without compromising turnaround times or quality.
Within just six months of going commercial, Metaforms has onboarded four of the top 20 global research firms, including STRAT7, and claims to process over 1,000 surveys monthly. With long-term goals of processing 100,000+ surveys annually, the startup is focused on providing research professionals with tools that increase operational leverage—without removing the human touch.
The company operates in the growing AI-powered research enablement sector and is carving out a niche by offering purpose-built agentic systems for the research services market.
Fertility-tech startup Luma Fertility has raised $4 million in a seed funding round led by Peak XV’s Surge, with participation from prominent investors including Ameera Shah of Metropolis Healthcare and Vijay Taparia of B2V Ventures.
The capital will be used to expand Luma Fertility’s presence across Mumbai and scale its comprehensive, tech-enabled reproductive care services including IVF, egg/embryo freezing, fertility assessments, and pre-conception care to new cities over the next two years.
Founded by Neha K. Motwani in 2024, who previously built and exited fitness platform Fitternity (acquired by Cult.fit in 2021), Luma is leveraging her consumer-tech expertise to modernize fertility services.
The company recently launched a 6,000 sq ft flagship clinic in Bandra, Mumbai, integrating medical care with holistic offerings such as nutrition, IV therapy, acupuncture, and at-home semen testing.
At the heart of Luma’s tech offering is its IVF companion app, which includes features like cycle tracking, real-time reports, and LumaAI – an always-on virtual assistant offering medication and journey support. The clinic also features an open lab design and personalized care teams, reinforcing its commitment to transparency and patient-first care.
With India’s fertility rate falling below replacement level (1.9 vs. 2.1) and IVF cycles projected to grow from 320K in 2024 to 550K by 2028, Luma is well-positioned to scale. The startup is also planning to expand its egg and embryo freezing services to meet demand from millennials and Gen Z consumers exploring delayed parenthood.
Chennai-based South Indian food brand Sweet Karam Coffee (SKC) has raised $8 million in its Series A funding round, led by Peak XV Partners, with participation from existing investor Fireside Ventures, which increased its stake.
This investment comes nearly two years after SKC secured $1.5 million from Fireside Ventures.
The fresh funds will be utilized to expand distribution, introduce new products, and enhance its supply chain through technology integration.
Founded in 2015, SKC is known for its traditional South Indian sweets, snacks, and filter coffee, made without palm oil, preservatives, or maida.
The brand also offers condiments and ghee, selling through its website, e-commerce platforms, and quick commerce channels.
SKC claims to serve customers in 32 countries and has expanded its presence to over 2,500 quick commerce dark stores across India. Over the past year, the company has reportedly grown its revenue fourfold and aims to scale another 2.5X in the next 12 months.
In a strategic move to strengthen execution, SKC has appointed Nandhitha Indermohan, formerly with Unilever, as its Chief Operating Officer.
