Peak XV Partners, which manages more than $10 billion and invests across markets including India and Southeast Asia, has raised Surge’s maximum investment per startup to $5 million from $3 million. The higher ceiling applies to Surge 12, a new cohort of 18 companies that received more than $50 million from Peak XV and have collectively raised over $90 million in seed funding. At least three companies had secured outside funding before joining the seed-stage investing platform, including Ditto and ULOOK, which had previously raised rounds involving Peak XV or other investors. Rajan Anandan, managing director at Peak XV, said the higher investment reflects a significantly tougher Series A fundraising environment and the growing capital needs of deeptech companies. The latest cohort spans founders and businesses from San Francisco to Sydney, with five startups focused on India and more than half based there while the other 13 target global markets. Since its 2019 launch, when Peak XV operated as Sequoia Capital India and Southeast Asia, Surge has backed more than 180 startups founded by entrepreneurs from over 18 nationalities. Peak XV says its 10 largest Surge companies now generate more than $1 billion in combined annual revenue. The cohort covers AI, robotics, space, consumer products, healthcare, music and fintech, including platforms for AI safety, personal computing, healthcare, financial markets, autonomous robots, satellite sensing and commercial insurance.