The Cisco chairman’s investments have supported around 16 startups and are expected to increase in case of India’s IoT space
(Image Courtesy – Business Insider)
John Chambers, chairman, Cisco has announced that he is eyeing to make investments in the Internet of things (IoT) segment of India. Considering the growth of IoT and startups ecosystem in India, the chairman has invested in a cybersecurity firm called Lucideus which offers cybersecurity solutions to enterprises and governments across the world.
He is planning to tap into the IoT solutions market by exploring the potential of the emerging technology space in the country.
Expansion plans
Saket Modi, CEO and Co-founder, Lucideus said that the fund would be optimally utilized to expand the company’s footprint in the global arena and to strengthen the company’s portfolio. The focus would be across India and the US. The firm’s profit had witnessed a triple-fold increase with a total value of $135 billion as per reports. It is targeting to raise its market share in the cybersecurity market to$202.36 billion by 2021.
Investments in India
The tech giant’s chairman has earlier invested in JC2 Ventures that in turn, financed startups of India to scale, grow and deliver solutions for a digitally empowered future. Chambers’ initial investment of $5 million has yielded additional financial support of around $75 million. He has overall invested on 16 startups in India and plans to increase its investments in the next few years. The Cisco chairman has also funded Uniphore Software Systems, an Indian speech analytics and virtual assistant firm that uses technology in speech recognition.
John Chambers investments are said to be helping in conducting core research to boost productivity and upgrading customer service infrastructure.
