Co-investing in Indian startup businesses, Accel and Prosus are promoting innovation in modern manufacturing, clean energy, and AI.

Accel, a US-based venture capital firm, and Prosus, a Dutch technology investor, are collaborating to invest in initial stage Indian businesses that focus on clean energy, modern manufacturing, and AI-based technology. It was announced on Monday. In order to help Accel's Atoms X program for young entrepreneurs, Prosus will match Accel's investments in each selected startup.

Pratik Agarwal, a partner at Accel, stated that the entire amount of funds for initial investments under this venture will be between $200,000 and $2 million. The aim of the program is to help companies that are building new business plans or advancing technologically. Agarwal also added that each of them will at first invest between $100,000 and $1 million, which will have an impact on some of these startups.

According to Agarwal, they believe that this time is right for the Indian startup ecosystem to shift from adapting global companies to building Indian models that help India advance its journey in becoming a developed country. Prosus always aims to fund developing businesses across the globe. The business reflects Swiggy, Meesho, and PayU as major investments in India.

In addition to three complete stage dealings with Rapido, Mintifi, and Vastu Housing, Prosus finished seven primary stage deals in India the previous year, according to Ashutosh Sharma, head of the company's India ecosystem. Prosus advises that these companies must be really interesting even with their stable perspective on seed stage investing.

Young entrepreneurs will invest five to six times annually instead of forty to fifty. While Prosus guaranteed to match Accel's investment in this partnership, Sharma advised that the company has no plans to buy an equity share equivalent to Accel's.