Latest news with #Accel
Business Standard
a day ago
- Business
- Business Standard
Accel reports consolidated net loss of Rs 0.03 crore in the March 2025 quarter
Sales decline 7.52% to Rs 46.12 crore Net loss of Accel reported to Rs 0.03 crore in the quarter ended March 2025 as against net profit of Rs 0.90 crore during the previous quarter ended March 2024. Sales declined 7.52% to Rs 46.12 crore in the quarter ended March 2025 as against Rs 49.87 crore during the previous quarter ended March 2024. For the full year,net profit declined 41.21% to Rs 2.04 crore in the year ended March 2025 as against Rs 3.47 crore during the previous year ended March 2024. Sales declined 2.42% to Rs 163.05 crore in the year ended March 2025 as against Rs 167.09 crore during the previous year ended March 2024. Particulars Quarter Ended Year Ended Mar. 2025 Mar. 2024 % Var. Mar. 2025 Mar. 2024 % Var. Sales 46.1249.87 -8 163.05167.09 -2 OPM % 7.728.64 - 8.7510.18 - PBDT 3.333.26 2 10.4011.77 -12 PBT 1.631.83 -11 4.174.90 -15 NP -0.030.90 PL 2.043.47 -41
TechCrunch
a day ago
- Business
- TechCrunch
Accel Partner Sonali De Rycker on AI, exits, and European tech
This episode was recorded live at StrictlyVC London, where TechCrunch editor-in-chief Connie Loizos sat down with Accel partner Sonali De Rycker. They talked about Accel's 25th European anniversary and De Rycker shared insights into Accel's current AI investment strategies, highlighting the powerful firm's focus on the application layer rather than infrastructure. And more broadly they discussed Europe's regulatory challenges, compared the US and EU tech ecosystems, and explored venture capital's evolving exit strategies in the absence of IPOs.
Hans India
2 days ago
- Business
- Hans India
Accel's high-impact AI summit in Bengaluru to spotlight India's emerging global edge
Bengaluru: Global venture capital firm Accel on Thursday said it will host the second edition of its flagship AI Summit in Bengaluru on June 4, convening some of the sharpest minds in artificial intelligence from India and beyond. Under the theme 'Engineering India's AI Advantage,' the exclusive, invite-only event will bring together leading AI founders, researchers, tech CXOs, policymakers, and global investors. The goal is to catalyse new ideas, partnerships, and frameworks that accelerate India's role in shaping the global AI landscape. India's AI market is projected to reach $17 billion by 2027, growing at over 25 per cent CAGR, according to Nasscom. With unique data advantages and a growing base of vertical AI startups, Indian innovation is increasingly setting the pace across sectors such as healthcare, fintech and retail. 'India's AI ecosystem is evolving rapidly, with application-layer AI now delivering real value to enterprises,' said Prayank Swaroop, Partner at Accel. 'Founders are leveraging India's data advantage to build differentiated, domain-specific models. This summit is about spotlighting that momentum and building the frameworks to scale global AI companies from India,' he added. Featured speakers include Ashish Vaswani (Co-founder and CEO, Essential AI), Abhishek Singh (Additional Secretary, MeitY), Professor Balaraman Ravindran (IIT Madras), Geetha Manjunath (Founder and CEO, Health Analytix), Kalika Bali (Senior Principal Researcher, Microsoft Research India), Pratyush Kumar (Co-founder, Sarvam AI), Pranav Mistry (Founder and CEO, TWO AI), Sharad Sanghi (CEO, Neysa), and Vas Natarajan (Partner, Accel), among others. The evening will also see the unveiling of the inaugural Forbes x Accel AI 30 list — recognising Indian-origin trailblazers in AI across research, entrepreneurship, and enterprise impact.
Forbes
4 days ago
- Business
- Forbes
The Midas Originals: Tracking Years Of Outperformance From The List's First Investors
This year marks the 15th anniversary of the modern Forbes Midas List. To celebrate, we're looking back at the investors on our first ever Midas List and the companies propelling them up the list. Fifteen years ago, the companies shaping markets demonstrated that they had officially rebounded from the global financial crisis. We saw a surge in dealmaking and fundraising, as well as renewed investor enthusiasm for high-profile tech IPOs. The concept of unicorns began to solidify as modern-day juggernauts like Facebook (now Meta), Twitter (now X), Instagram, LinkedIn and Airbnb rose to record-breaking valuations. As has been the case since, the top investors on the 2011 Midas List were those with strong picking skills who foresaw the coming rise of consumer internet startups. A lot has changed since then, and while we have seen a number of newcomers make their way onto the list over the years, only a handful of the investors on the 2011 Midas List have maintained their spot on the list today. An even smaller portion of investors have climbed the ranks and remained at the top, demonstrating just how difficult it is to place the right bets time and again. Below, we'll take a closer look at some of the investors on the 2011 Midas List and where they are today. Theresia Gouw, Acrew Capital 2011: #93 In 2011, the Midas List featured just two women: Deborah Farrington of StarVest and Theresia Gouw. At the time, Gouw was a Managing Partner at Accel, where she focused on investments in consumer tech and cybersecurity. She had played a pivotal role in Accel's early investments in Facebook, including its 2005 lead of Facebook's $12.7 million Series A. Gouw was also an early backer of a number of startups that were eventually taken private, including cybersecurity startup Imperva, which was acquired by Thoma Bravo in 2019 for $2.1 billion, as well as Trulia, which was taken private by Zillow for $2.5 billion in 2015. After more than a decade at Accel, Gouw went on to become a founding partner at two additional venture firms, Aspect Ventures and Acrew Capital. Gouw is considered a pioneer for women in the venture capital industry. Since being named to the first Midas List she has added a number of accolades to her resume, including being featured as one of TIME Magazine's 40 Most Influential Minds in Tech in 2013, Forbes' Most Powerful Women in 2018 and America's Self-Made Women in 2024. While the industry has far to go, there are more than five times as many women on this year's Midas List, including Gouw's partner, Acrew Capital cofounder and partner Lauren Kolodny. Reid Hoffman, Greylock Partners 2011: #3 | 2025: #2 A renowned entrepreneur, venture capitalist and philanthropist, Reid Hoffman has been instrumental to the evolution of Silicon Valley's tech landscape. Hoffman began his career at Apple shortly after graduating from Oxford University's Wolfson College before becoming PayPal's COO in early 2000. He then went on to cofound LinkedIn in 2003, which became one of the first major social media IPOs in 2011. The company listed at an $8 billion valuation before ultimately being acquired by Microsoft in 2016 for $26.2 billion. By the time the 2011 Midas List was published, Hoffman had joined Greylock Partners and led a number of early-stage investments in consumer technology companies. He landed the #3 spot on the 2011 list with investments in well-known companies like Facebook and Groupon, in addition to his continued involvement with LinkedIn. Over the years, Hoffman has been a vocal advocate for responsible AI development and has helped start a number of AI ventures. In 2016, he was among the first donors to OpenAI, and in 2022, he co-founded Inflection AI alongside DeepMind cofounder, friend and colleague Mustafa Suleyman. Earlier this year, he launched Manas AI, a drug discovery startup leveraging AI for cancer research. At #2 on this year's Midas List, Hoffman has been one of the very few investors who has proven year after year that he can anticipate trends and make investments that not only generate strong returns but also have word-changing potential. Vinod Khosla, Khosla Ventures 2011: #71 | 2025: #7 With the familiarity of Vinod Khosla's name today, it may be hard to believe that he was ranked #71 on the 2011 Midas List. This is in part because many of the companies that helped skyrocket him to the top – like OpenAI, DoorDash, Instacart and Rubrik – did not yet exist. It is also partly a result of how far ahead of the curve he tends to be. Khosla has made a name for himself as a radical, risk-taking investor focused on the earliest stages of a company's journey. He often concentrates on areas with high potential for positive social impact, like climate tech, nuclear fusion and automation and AI. While many of these technologies are now considered mainstream, Khosla has been investing in them for decades. He was one of the earliest investors in Square (now Block) and OpenAI, well before they grew into the tech giants they are today. He turned a $2.75 million investment in Juniper Networks into $7 billion and generated billions more through wins like Cerent, Siara and Excite. His willingness to make bold bets has consistently placed him ahead of major technological shifts and helped him deliver strong returns. Doug Leone, Sequoia 2011: #11 | 2025: #7 With a knack for understanding people and what motives them, Doug Leone landed a sales job at Sun Microsystems right out of college. At Sun, he learned the core tenets that turned him into one of the most accomplished investors of all time: grit when stumbling upon obstacles, humility when faced with failure, and the ability to take calculated risks. These attributes helped Leone land a gig with Sequoia in 1988, where he ultimately became a managing partner and led the firm's expansion into China and India. At Sequoia's helm for over 25 years, Leone led several notable investments for the firm, including familiar names like Palantir, ServiceNow, Nubank, Medallia, Snowflake, Wiz and RingCentral. Over the years, many of the companies Leone has backed have yielded strong returns, such as WhatsApp's $19 billion sale to Facebook in 2024. His willingness to support founders from diverse and often unconventional backgrounds, coupled with a hands-on approach to mentorship, helped him cement his reputation as a trusted and principled leader in the industry. Danny Rimer, Index Ventures 2011: #59 | 2025: #95 Danny Rimer's move to the Bay Area during the birth of Web 1.0 in the 1990s ignited a passion for technology that drove him to work alongside many of the world's most creative founders. An eternally curious fan of design and art, his first tech venture involved digitizing and selling images of famous artwork, establishing exclusive deals with galleries like the Louvre and Uffizi Gallery. Today, Rimer's investments focus on generational companies that leverage technology to influence how we interact and shape our culture. Rimer joined Index Ventures in 2002 to open its London office, and he later led the firm's expansion into San Francisco. He is one of fewer than 20 investors to have made the Midas List a total of 11 times, first appearing in 2011 for his investments in and MySQL, which sold for $280 million and $1 billion, respectively. In 2013, he led Figma's $3.9 million seed round, becoming the first institutional investor in the company. More recently, he invested in innovative consumer and design-focused companies such as Etsy, Farfetch, Glossier, Patreon and Discord. Peter Thiel, Founders Fund 2011: #7 | 2025: #3 By the early 2000s, Peter Thiel had already become an iconic tech mogul. He co-founded PayPal in 1998 and Palantir Technologies in 2003, two highly respected and valuable companies with a combined market cap of nearly $350 billion today. But believe it or not, that's not what he is best known for. In 2004, Thiel became Facebook's first outside investor when he made a $500,000 investment in the company for a 10.2% stake. This move proved highly lucrative over the years, as Facebook's valuation soared to $104 billion by the time the company went public in 2012. When the 2011 Midas List was published, Thiel was a Silicon Valley staple and placed seventh on the list. Over the years, Thiel has built on his early success with significant early investments in a wide variety of household names, including Airbnb, Stripe, Spotify, Twilio and SpaceX. Building off of his legacy as Facebook's first investor, today, he continues to provide support to young companies and entrepreneurs seeking to take their ventures to the next level. The Thiel Fellowship was established in 2010 to award $100,000 to individuals under 23 years of age to pursue entrepreneurial ventures instead of attending college. He also launched Breakout Labs, which provides grants to early-stage science startups in an attempt to bridge the funding gap for innovative companies conducting pioneering research that may not generate strong short-term returns. He is one of the only investors who has made the Midas List every year, and this year, he came in as #3. Fred Wilson, Union Square Ventures 2011: #12 | 2025: #9 Fred Wilson is known for his contrarian approach to investing, often entering disruptive sectors when others are hesitant. He emphasizes the importance of investing in companies that foster community and engagement, particularly through companies leveraging decentralized networks like social media platforms and crypto companies. Wilson founded Union Square Ventures in 2003 and quickly got to work leading Series A rounds for Indeed, Twitter, Etsy and Zynga, making the firm one of the earliest investors in several groundbreaking platforms that would go on to deliver substantial returns for investors. Among Wilson's other investments are Stripe, Zynga, Tumblr, Stack and Carta. A strong proponent of blockchain technology, Wilson also led Union Square Ventures' $5 million investment in Coinbase in 2013, which was later valued at nearly $6 billion upon the company's direct listing in 2021. Since his debut on the Midas List in 2011 at #11, Wilson has been one of the most consistent investors, appearing on the list every year and only ranking outside of the top 50 investors twice.
Yahoo
24-05-2025
- Business
- Yahoo
OpenFX secures $23m in initial financing round
OpenFX, an FX infrastructure firm facilitating cross-border payments, has emerged from stealth after raising $23m. The funding round was led by venture capital firm Accel. It also saw contributions from NFX, Lightspeed Faction, Castle Island Ventures, Flybridge, Hash3, and several fintech investors. The newly acquired funds will be allocated for immediate expansion plans in Latin America and Asia, the introduction of treasury management solutions, and the extension of its regulatory framework to cover more jurisdictions. This follows the company reaching $10bn in annualised transaction volume within a year of its launch in early 2024. The company, founded by entrepreneur Prabhakar Reddy, aims to build an FX network that enables real-time, and near-instant settlement of cross-border transactions. OpenFX's platform is designed to reduce the time and cost associated with FX transfers, operating to bypass the constraints of traditional banking hours. The company utilises a multi-layer liquidity architecture that integrates conventional banking systems with digital-native technologies. The platform customer base include remittance providers, neobanks, brokerages, payment processors, and global payroll companies. The leadership team at OpenFX brings together expertise from various sectors, including traditional finance, blockchain infrastructure, and global payments. Reddy said: "While domestic real-time payments have become the standard, cross-border money movement remains stuck in an analog era. We're building the critical settlement infrastructure needed for the AI-driven economy, where money moves as freely as data—unrestricted by time zones, banking hours, or legacy systems." 'We're building the invisible rails that will power the next decade of global commerce—making international payments as seamless, instant, and reliable as sending an email." "OpenFX secures $23m in initial financing round " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
