Cisco Investment Plans to Invest $40M Into Early Stage Startups Based In India.
The venture capital arm of Cisco, Cisco Investment, has recently announced an extra allocation of US$40 million to fund early-stage firms in India under the ‘India Innovation theme’.
This recently new funding distribution builds on Cisco Investment momentum in India na dis focused on products and technologies that are relevant to India and other emerging markets, these includes cost-optimized designs, industry vertical solution and application of cloud.
As part of the Indian Innovation theme, Cisoc has also recently announces its very first investment into Covacisis, a Mumbai-based real time analytics platform software provider catering to manufacturing production floors.
During the passing years, Cisoc has become a highly active equity investor in the country, and has made significant investment into growth stage companies such as Netmagic, Apalya and social innovation funds like Aavishkaar.
Joydeep Bose, Managing Director, Corporate Development, Cisco Asia Pacific and Japan, said, “India is committed to rapidly building out its communications infrastructure, which presents a unique opportunity for local entrepreneurs to develop new technologies and applications. As a leading strategic investor, Cisco Investments is committed to support the building of entrepreneurial capacity and nurture the local early-stage startup ecosystem in India. By spurring and accelerating technology innovation, we want to help India evolve as a global hub for innovation and help Cisco become a defining player in taking technology investment in the region to the next level.”
Cisco Investments current portfolio is said to be over US$2 billion globally and the US$ 40 million early-stage distribution under the Indian Innovation them is a part of the US$250 million that was previously announced earlier in the year.
The main focus is on the next-generation technologies worldwide, these include big data and analytics, the Internet of Things, connected mobility, storage, silicon and content technology ecosystem. Cisco have invested in MobStac, a Bangalore-based startup company, as part of its global connected mobility theme.
Dinesh Malkani, President, Sales, Cisco India and SAARC, said, “Cisco’s belief is that the innovative application of technology can have a positive impact on India’s competitiveness, diversification of its industry base, its ability to create jobs and improve quality of life for its citizens. The announcement underscores Cisco’s recognition of the tremendous innovation and potential that the India technology market offers. Our objective is to help catalyse and accelerate that potential into action that will have a positive impact in India and globally.”
The investment philosophy of Cisco Investment has transformed over the years. While the company is willing to continue its nearly 20 year history of investment focused upon Cisco currently existing business core, the launch of the thematic investing approach extends this perspective support companies that have innovative ideas to shape the overall global networking ecosystem during the upcoming future.