Indian start-ups to get funding from Cisco

Start-ups in India focusing on products and technologies relevant to the country and other emerging markets are set to receive funding worth Rs. 241 crore from the investment arm of global networking products major Cisco, a report from Indo Asian News Service stated.

In addition, the Indian subsidiary of the U.S. global telecom products firm said that companies working on cost-optimised designs, industry vertical solution, and applications on cloud computing will also get funds.

Mumbai-based Covacsis, a real-time analytics platform software provider, will get the first investment. Earlier, Cisco had already invested in growth stage Indian firms Netmagic and Apalya, as well as social innovation funds like Aavishkaar.

The funding on start-ups and other Indian companies is part of Cisco's Rs.1,543.21 crore investment targeting next-gen technologies worldwide, which include big data and analytics, the Internet of Things, connected mobility, storage, silicon, and content technology ecosystem.

Apart from the companies mentioned above and as part of its global connected mobility theme, Cisco has also invested in Bangalore-based start-up Mobstac.

This growing investment in India's communications infrastructure provides many opportunities for entrepreneurs and engineers to develop new technologies and applications.

Joydeep Bose, Cisco Asia Pacific & Japan managing editor, said Cisco wants to help India evolve as a global hub for innovation because this in turn will help the company to become a key player in taking technology investment in the region to the next level.