Peak XV Partners has unveiled its twelfth Surge cohort and raised how much it will invest in each startup. The venture firm announced the changes on September 29, 2026.

Surge 12 includes 18 startups. Peak XV has invested more than 50 million dollars across the group. The companies have collectively raised over 90 million dollars in seed funding.

The per-startup ceiling rises from 3 million dollars to 5 million dollars. Managing director Rajan Anandan said the bar to raise a Series A has gone up significantly. He added that the firm is seeing more capital-intensive deep-tech companies raising larger early rounds.

The cohort skews toward AI and deep tech. Named companies include Reinforce Labs in enterprise AI safety, Puralink’s underground-pipe robots, and ULOOK’s satellite radio-frequency sensing. About half of the cohort is AI-native.

Just five of the 18 startups are focused on the Indian market. More than half are based in India, but 13 target global customers from the start.

Since its 2019 launch, Surge has backed more than 180 startups. Peak XV says its top ten alumni now generate over 1 billion dollars in combined annual revenue.