The technical school large endowed through unit Cisco Investments, Stellaris aforementioned in a very statement. It didn't disclose the number Cisco endowed.
“Cisco is committed to India’s next part of digital transformation through strategic investments within the country’s innovation scheme,” aforementioned Sameer Garde, president, Cisco Bharat and South Asian Association for Regional Cooperation (SAARC), within the statement.
Stellaris, based by former prime executives at working capital firm Helion Venture Partners, is wanting to lift $100 million (Rs 636 crore) for the fund.
It had marked the primary shut at $50 million in Gregorian calendar month last year.
Cisco joins another technical school large, Infosys Ltd, in backing Stellaris. India’s second-largest software package services company had aforementioned in November 2016 that it endowed Rs 31.6 large integer within the Stellaris fund.
The VC firm’s alternative LPs, or investors, embody monetary establishments, company homes, entrepreneurs and family offices within the us, Europe and Asia.
In might last year, International Finance Corporation (IFC) had conjointly projected to speculate $10 million within the VC firm’s debut fund.
Alok Goyal, partner at Stellaris, aforementioned the VC firm can look to faucet into deep technology experience and world market reach of Cisco for the advantage of its portfolio firms.
Stellaris invests in seed and Series A rounds in technology startups. Its investment areas includes native language on-line services, technology-led monetary inclusion, provide chain networks, vertical machine-learning applications and world software-as-a-service businesses.
Its investments embody mobile business-to-business marketplace Wydr and on-line doctor consultation platform Mfine.
Stellaris was started by Goyal, Ritesh Banglani and Rahul Chowdhri when they quit Helion. till Dec 2015, the trio were managing a dozen corporations beneath Helion’s portfolio together with Housing.com, Lifecell, Dentys, TrulyMadly, Whatfix, BigBasket, Shopclues and Toppr.
Over the past year, excluding Stellaris a clutch of massive and tiny VC corporations together with IDG Ventures, Endiya Partners and fireplace Ventures conjointly declared milestones in their individual fundraising efforts.
Earlier this month, pi Ventures marked the second shut of its debut fund whereas 3one4 Capital hit the ultimate shut of its second fund.
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