Hotline: 1800 102 2007
X
Search Business Opportunities
2014-06-24

Cisco investment arm to fund Indian start-ups

The investment arm of global networking products major Cisco announced a $40 million (Rs 241 crore) fund for early-stage firms (start-ups) in India which are focused on products and technologies relevant to the country and other emerging markets.

The investment arm of global networking products major Cisco announced a $40 million (Rs 241 crore) fund for early-stage firms (start-ups) in India which are focused on products and technologies relevant to the country and other emerging markets.

 

In a statement,  the Indian subsidiary of the US global telecom products firm said, "The funds will also be made in firms which work on cost-optimised designs, industry vertical solutions and applications on cloud computing."

 

The first investment will be in Covacsis, a Mumbai-based real-time analytics platform software provider catering to manufacturing production floors.

 

"The new venture investment is consistent with our track record of driving IT market growth through investment in the innovation economies," the statement said.

 

The $48-billion company had earlier strategically invested in growth stage Indian firms such as Netmagic and Apalya and social innovation funds like Aavishkaar.

 

The early stage funding under the India Innovation theme is a part of the $250-million the company had announced early this year on next generation technologies worldwide, including big data and analytics; the Internet of Things, connected mobility, storage, silicon and content technology ecosystem.

 

The company also invested in MobStac, a Bangalore-based start-up, as part of its global connected mobility theme.

 

"Our belief is 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," said Dinesh Malkani, President (sales), Cisco India.

 

The latest funding also recognises the innovation and potential 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," said Malkani.

 

As India builds its communications infrastructure, it provides an immense opportunity for local entrepreneurs to develop new technologies and applications.

 

"By spurring and accelerating innovation, we want to help India evolve as a global hub for innovation and help us to become a defining player in taking technology investment in the region to the next level," said Joydeep Bose, Managing Director, Cisco Asia Pacific & Japan.

Related opportunities
  • Preschools
    About Us: The brand proven for revolutionary change in education sector...
    Locations looking for expansion Delhi
    Establishment year 2015
    Franchising Launch Date 2015
    Investment size Rs. 10lac - 20lac
    Space required 3000
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater New delhi Delhi
  • Ayurvedic, Herbal & Organic Products
    About Company:Bio Veda Action Research company formerly known as Biotique..
    Locations looking for expansion New Delhi
    Establishment year 1992
    Franchising Launch Date 2015
    Investment size Rs. 10lac - 20lac
    Space required 200 – 500 sq. ft.
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New Delhi New Delhi
  • Casual dine Restaurants
    About:The first Kenny Rogers restaurant was opened in coral spring,..
    Locations looking for expansion New Delhi
    Establishment year 1991
    Franchising Launch Date 2017
    Investment size Rs. 2 Cr. - 5 Cr
    Space required 1200 - 2000 Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater South Delhi New Delhi
  • Bars, Pubs & Lounge
    About Us: A multi-award winning, trendy resto-bar by Rachel Goenka, located..
    Locations looking for expansion Maharashtra
    Establishment year 2000
    Franchising Launch Date 2018
    Investment size Rs. 2 Cr. - 5 Cr
    Space required 3000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities

Free Advice - Ask Our Experts