Accel raises over ₹46,000 crore to boost investments in AI

Venture capitalist firm Accel has raised $5 billion (over ₹46,000 crore) in new funds to invest in AI startups. Accel will use $4 billion from the funding to invest about $200 million each in 20 to 25 companies building AI-powered technology, Accel partner Matt Weigand told Bloomberg. The firm has backed over 800 companies, including Anthropic, Perplexity and Lovable.