Accel announced the launch of its new pre-seed funding program, Accel Atoms.
Accel Atoms is part of the sixth Accel fund, which has $550 million. It looks at early-stage and unproven startups. Even if a startup doesn't have a product, customers or revenue yet to speak of, it can still apply for funding from this program.
The fund is trying to invest in D2C brands, fintech, consumer apps, B2B marketplaces, insurtech and crypto/blockchain startups. By joining, startups get access to all the benefits that come with being an Accel portfolio company, like support from investment teams and venture development teams, as well as access to 200+ founders in other portfolios or 1000 experts within their networks.
In addition, this innovative programme breaks away from typical startup programs by providing short-term one-to-one mentoring.
Prayank Swaroop, Accel Partner, believes startups are given more attention with shorter mentorships. “We are focused on creating the best possible choice for entrepreneurs. We have partnered with great operators and entrepreneurs in the ecosystem to give one-to-one attention to startups,” he said.