Cisco to invest $3-5 million in Indian ‘enterprise SaaS’ start-ups
March 09, 2021
× Networking giant Cisco is looking to invest $3 million to $5 million in Indian enterprise SaaS start-ups for a minority stake. The company has a portfolio of about 10 start-ups that it has already invested in directly or through investment partnerships with VC funds.
Whatfix, Videonetics, Mobikwik, Mobstac and CloudCherry are some of the start-ups in its portfolio in India.
“Globally we invest about $100 million to $200 million every year, from Series A to late-stage growth investments. There is no specific allotment to India, because we don’t operate that way. India investments may ebb and flow according to the opportunities we see in the market and the strategy we want to execute. The sweet spot for our India investments would be in the $3 million to $5 million range” said Pankaj Mitra, Director and India Head, Cisco Investments & Acquisitions.
Stellaris Venture Partners and IFC’s AI4Biz announces its first cohort of 10 startups
In a virtual event, IFC and Stellaris Venture Partners programme AI4Biz, focused to support early-stage AI-focused enterprise SaaS startups, announced its first cohort of 10 startups.
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AI4Biz to support
early-stage AI-focused enterprise SaaS startups. It is an initiative in collaboration with Infosys, Cisco, Amazon Web Services (AWS), GitHub, and Freshworks to identify and support promising Indian AI-enabled SaaS startups.
The programme announced the launch of its first 10 startups as a part of this cohort.
The selected startups will have the opportunity to engage commercially with relevant companies from within Stellaris Venture Partners and IFC’s global portfolio of investments. Finally, the most promising startups will be considered for investments by Stellaris, IFC and potentially, by other collaborating organisations.