Cisco Investments to fund early-stage firms

Cisco Investments has announced an additional allocation of US$40 million to fund early-stage firms in India under the “India Innovation theme”. The new funding allocation builds on Cisco Investments’ momentum in India and is focussed on product and technologies that are unique and relevant to India and other emerging markets. As part of the India Innovation theme, Cisco has also announced its first investment under this theme in Covacsis – a Mumbai-based real-time analytics platform software provider catering to manufacturing production floors.
 
This investment theme announcement underscores Cisco’s commitment to India and marks a new phase of support for innovation in India, aligned to the country’s national transformation agenda. The venture investment in India is consistent with Cisco’s long track record of driving IT market growth through investment in the innovation economies. Over the years, Cisco has been an active equity investor in India, and has made significant strategic investments in growth stage companies such as Netmagic, Apalya and social innovation funds like Aavishkaar.
 
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. Today's announcement underscores Cisco's recognition of the tremendous innovation and potential that the India technology market offers. Our objective is to help catalyze and accelerate that potential into action that will have a positive impact in India and globally."

Besides contributing capital to early-stage companies, Cisco Investments helps accelerate the development of these companies by connecting them to expertise and resources such as Cisco IT, Cisco’s business leaders and Cisco’s network of partners and customers through major industry events such as the annual Cisco Live.