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.
Technuter
In an effort to boost India’s tech start-up ecosystem, the National Association of Software and Services Companies (NASSCOM), has announced Deep Tech Club (DTC) 2.0; the second edition for its DeepTech Mentoring program, an initiative to nurture and promote Indian DeepTech products solving global problems. DTC finds world-changing start-ups that are enabled by AI, ML, AR, VR, IoT, Robotics, Blockchain, NLP, and similar technologies. The central focus of the DTC program is to act as a catalyst in empowering pioneers in India-based deep technology startups and connect them with industry leaders, investors, academia, researchers, and government regulators to establish a global deep tech ecosystem impacting physical and digital transformation.