SAP Ventures Puts $10M in One97
SAP Ventures, the software maker’s VC arm, invested $10 million in One97 Communications, an India-based company that provides services to telcos and mobile users. Vijay Shekhar Sharma, the founder and current head of the company said One97 will use the capital to expand its business in Asia and Africa, boost R&D and hire new talent.
One97 offers mobile commerce solutions such as pre-paid mobile recharges as well as marketing services to telcos including Vodafone, among other things.
Jai Das, a managing director for SAP Ventures, said that mobile and emerging markets are two of the company’s key focuses in an interview to Deals India Monday. WSJ elaborated on this latest investment:
“For SAP Ventures, this is the second investment in India this year. The company had earlier invested $10 million in local search engine Just Dial along with Sequoia Capital Global Equities in June this year.”
SAP has an aggressive growth strategy, and the firm has been looking in more than one direction to achieve the revenue growth its co-CEOs promised to the company’s shareholders. The software maker is investing a lot to monetize its partner ecosystem, and is making bigger and bigger chunks of its portfolio available to resellers. The latest example of that is a partnership with Hewlett-Packard announced earlier this month that will enable the latter to deliver SAP apps via HP Enterprise Services in a SaaS model.
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