Published By : 08 Dec 2017 | Published By : QYRESEARCH
In a recent phone interview, Ram Jambunathan, senior vice president and managing director of SAP.iO Fund, informed that the software giant hopes to be the leader in the next generation of the cloud and digitization. SAP.iO Fund was created earlier this year to invest in early-stage software startups that would bring about expansion of the SAP ecosystem. SAP.iO Fund was seeded with US$35 million.
SAP.iO Fund Intends to Tap into Developed Ecosystems of Silicon Valley and Israel
Jambunathan spoke of their plans to up investments in 2018 and double the number of deals it struck in 2017. To that end, it is acutely aware of the need to innovate and disrupt. It is looking to tap into the best startup ecosystems in the world such Silicon Valley and Israel to pick up promising futuristic ideas in the domain of technology products.
The fund has already ploughed money into Niki.Ai., an Indian startup, earlier this year. The senior VP did not rule out more such investments in India, which he labelled as a crucial market in terms of customers. Besides, vis-à-vis innovation, the software multinational has a solid presence in India, informed Jambunathan.
Jambunathan did not rule out SAP backing more Indian startups in the future, given the depth and breadth of the Indian startup ecosystem.
By 2017-end, SAP.iO plans to spend at least US$1.5 million to US$3 million in a minimum of eight to 10 startup ventures. Next year, it envisages to double the figure.