Cisco allocates $40m to Indian start-ups

Part of the firm's "India innovation" program, the capital will be used to support the development of new products and technologies that are relevant to India and other emerging markets. These include cost optimized designs, industry vertical solutions and cloud applications, according to a statement.

Cisco also announced its first investment under the program in Covacsis, a Mumbai-based real-time analytics platform software provider for manufacturing enterprises.

The $40 million early-stage allocation is a part of the $250 million that was announced earlier in the year, which will be deployed in next-generation technologies globally, including big data and analytics, the Internet of Things, connected mobility, storage, silicon and content technology ecosystems.

In addition to capital contributions, Cisco Investments is expected to help accelerate the development of selected Indian start-ups by connecting them to expertise and resources, such as IT and networks of partners and customers of Cisco.

Cisco has a portfolio with a market value of over $2 billion, including more than 80 direct investments, as well as investing in over 35 venture capital funds globally.

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• Topics
• South Asia
• Early-stage
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• India
• TMT