Connect with us

Company News

Microsoft’s Venture Fund Invests in Indian Healthcare Start-Up Innovaccer

M12, Microsoft’s rebranded corporate venture fund, said it will invest in Indian start-ups. Rashmi Gopinath, partner at M12, will be leading M12’s investments in India. As a part of its India foray, M12 (formerly Microsoft Ventures), announced its investment in Innovaccer, a healthcare start-up. While Microsoft did not disclose the quantum of investment in the start-up, it said that M12 is looking to make investments in the range of USD 2-10 million in early stage B2B companies. M12 is comprised of experienced VCs and Microsoft veterans — with team members in North America, Europe and Israel. Globally, M12 has invested in over 70 start-ups in areas ranging from cybersecurity and artificial intelligence to business SaaS and industrial drones. The push from Microsoft comes at a time when the B2B segment in India witnesses a spate of investments. Venture capital investments in Indian tech B2B start-ups have raised around USD 3.09 billion across 415 deals in 2018, 28 percent more than USD 2.41 billion invested in 2017, according to Tracxn data.

Moreover, an increasing number of enterprises B2B start-ups are being founded in India that cater to a global customer base, most notably in artificial intelligence and machine learning, robotics, software as a service (SaaS), data analytics and Internet of Things (IoT). These sectors continue to be top strategic priority for Microsoft and M12 as well. “India offers unique competitive advantages by being home to top technical talent in the world including deep tech areas such as computer vision, robotics, blockchain and autonomous driving. These factors position India favorably to support start-ups that can compete on a global scale,” said Gopinath. Abhinav Shashank, CEO, Innovaccer, said that working with M12 and Microsoft helps the start-up to leverage technical, industry, and go-to-market expertise to address the needs for healthcare organizations across the world. – The Hindu BusinessLine

Copyright © 2024 Medical Buyer

error: Content is protected !!