Bengaluru, Jan 16 (IANS) Microsoft on Wednesday announced that its corporate venture fund M12 will now invest in Indian startups, helping entrepreneurs innovate and grow.
Rashmi Gopinath, a partner at M12, will lead M12’s investment portfolio in the country.
M12 also announced its first India investment in the healthcare SaaS (software-as-a-service) startup called “Innovaccer”.
“M12 offers unique access to strategic go-to-market resources and relationships globally. I hope we will get a great traction in the Indian market,” Gopinath told reporters here.
As the corporate venture arm for Microsoft, M12 (formerly Microsoft Ventures) invests in enterprise software companies in the Series A through C funding stage.
According to reports, venture capital investments in Indian tech business-to-business (B2B) startups have been trending upwards with over $3.09 billion raised in equity funding across 415 deals in 2018 — 28 per cent more than $2.41 billion in 2017.
India offers unique competitive advantages by being home to top technical talent in the world in areas like computer vision, robotics, blockchain and autonomous driving, said Microsoft.
“We are thrilled to broaden M12’s reach to include India,” said Nagraj Kashyap, Global head of M12 and Corporate Vice President, Microsoft.