AI startup company with 16 female founders attracts attention

The newest cohort of Spark, Peak XV’s fellowship for female creators, has 16 female founders and 14 firms.

This cohort comprises four businesses developing AI solutions for travel, fraud detection, wholesale trade, and e-commerce, according to a statement released by Spark on Monday.

The remaining companies involved in software as a service (SaaS), business-to-business (B2B), and consumer businesses, with four more concentrating on healthcare.

The four-month Spark Fellowship program offers a $100,000 equity-free award.

All female founders who are just getting started are welcome to apply.

Founders will get access to a selected network of female founders, mentorship, domain knowledge, and invitation-only events.

Additionally, each firm will receive over $1 million in benefits from other businesses, including analytics, cloud credits, devtools, and much more.

In less than three years, Spark’s selected network of companies has grown to encompass three cohorts. There are 48 founders, and also 41 startups across more than ten sectors.

The managing directors of Peak XV, Shailendra Singh, Sakshi Chopra, Mohit Bhatnagar, GV Ravishankar, and Rajan Anandan, are among the program’s mentors. Ghazal and Varun Alagh of Mamaearth, Anand Jain of Clevertap, Chaitanya Ramalingegowda of Wakefit, Vivek Ramachandran, and other individuals are among the founder-mentors.

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Four companies are concentrating on artificial intelligence (AI):

• Wordsworth AI is building at the intersection of AI and commerce in order to disrupt personalization for e-commerce businesses.

• Traverse is building at the intersection of AI and travel.

• RaptorX.ai is building at the intersection of AI and fraud detection and prevention, helping businesses assess cyber risks.

FOBOH is an AI-enabled digital platform that helps food and beverage wholesalers scale sustainably, reduce waste, and get paid faster.

Four health-tech firms are Evenly, a chain of dermatological clinics; BabyMD, a full-stack pediatric service; Soulside, an AI-powered mental health platform; and one startup that is still in stealth.

Other firms include Fix My Curls, a hair care line designed in order to accommodate naturally textured hair, and Profit Peak, a SaaS platform that aims to provide e-commerce enterprises with actionable data insights to enhance profitability. Meritic assists mid-market businesses in automating their analytics and reporting; Melvvi creates goods for a sustainable and artisanal lifestyle. A-Sourced is developing an AI-powered consignment platform, while CHOSEN provides cosmeceutical and nutraceutical goods to meet the need for high-performance skin care products.

Renowned venture capital firm Peak XV (formerly Sequoia Capital India & SEA) makes investments in India, Southeast Asia, and other regions.

Moreover, Peak XV has expanded to manage over $9 billion in money across 13 funds and invest in over 400 firms throughout its 18-year operations in the area.

The portfolio has experienced many successful mergers and acquisitions (M&As) and twenty initial public offerings (IPOs), with $4.6 billion in realized exits to date.