Surge 04 startups are headquartered in India, Singapore, Vietnam, Indonesia – and for the first time since the launch of the program, in Australia. They span a wide range of sectors including EdTech, FinTech, SME Tech, DevTools, Consumer, HealthTech and B2B marketplaces. This cohort is unique in that over half the startups are Software-as-a-Service (SaaS) companies. Eleven of the 17 companies are building for cross-border markets, pushing beyond their geographical borders from day one. Several of these companies are also challenging the status quo in their respective categories, digitizing and disrupting traditionally offline industries like logistics, automotive and insurance. Surge facilitates an ‘open architecture’ approach that encourages other investors and members of the startup ecosystem to take part in Surge rounds, in order to serve founders better. Surge 04 startups collectively raised $45.35 million in their Surge round from both Surge and other investors. As with prior cohorts, a majority of companies are coming into the program with institutional and angel co-investors. In less than two years since its launch, Surge has evolved into an international community of over 150 founders spread across the globe. This cohort alone has founders based in seven countries – USA, Belgium, India, Singapore, Vietnam,… Read full this story
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