Cambridge Innovations to invest in businesses using big data and cloud to create transformational shift
Cambridge Innovations announces India ecosystem to bring the innovative U.S. start-ups to India and build innovative global companies in India.
- (1888PressRelease) December 23, 2015 - Cambridge Innovations (CI), recently launched by Cambridge Technology Enterprises (NSE: CTE; BSE: 532801), an IT services leader focused on the convergence of big data and cloud, today announced its ecosystem for the Indian start-up community.
Focused on bringing the most innovative U.S. start-ups to India and building the most innovative global companies in India, Cambridge Innovations believes India to be an emerging market for start-ups and believes that the best way to invest in India is via partnerships. It has invested in Anthill Ventures and partnered to participate indirectly in the Indian start-up ecosystem. Anthill Ventures has partnerships and investments in the Indian start-up community including 91Springboard and 500 Start-ups. Its portfolio includes companies such as Custom Furnish, Logic Roots, Ketto and Explara.
Cambridge Innovations has tied up with DMD Advocates as well, a leading legal services provider, to ensure that the investee companies are globally compliant, which it believes is the cornerstone of building global companies out of India.
Our investments:
1. Building global companies out of India: RoadZen, with its app StrandD, is disrupting the roadside assistance market through a transformative offering. Started in Pittsburgh, Pennsylvania by a team of Carnegie Mellon alumni, StrandD is the largest on-demand roadside assistance service in India with 18,000 providers in 1,500 cities. StrandD is building a global footprint through key partnerships and will launch service in its next country in Q1 2016.
Rohan Malhotra, CEO of RoadZen Inc., said "While countries like the US have had large organized roadside players like AAA for over a century, we saw a huge opportunity in India to build the next generation roadside assistance service backed by the best technology available today."
On building a global company from India, he further added, "We are using our experiences in India to build a framework of business strategies and operating guidelines - a 'launch playbook' - that will allow us to expand our global presence over the coming months."
2. Bringing global technologies to India: Authess is changing the way education and professional assessments are done, by using data science to determine what someone can do. Based in Boston MA, the company is led by Chris Kaiser, the former Provost of MIT, and former mobile executives from Pearson. The company's mobile and online assessments platform utilizes creative problem solving challenges to determine a person's readiness to apply his or her knowledge to real-world problems. This enables educators and employers to measure, for the first time, effectively and affordably what someone can do. Stressing the importance of this partnership for his group, Mr. S. Vaitheeswaran3, MD & CEO of Manipal Global Education Services, said "we see this investment as a strategic partnership. With a strong presence in India in the testing and assessment space, this relationship will open up interesting opportunities to collaborate with Authess in the U.S. and global market".
On this partnership, Aashish Kalra, Chairman of Cambridge Technology Enterprises, said, "We are focused on investing in US start-ups focusing on the convergence of big data and cloud. As Sundar Pichai2, CEO of Google has recently mentioned India to be a great opportunity for the next generation entrepreneurs, we believe that with our resources and expertise, the best way to find and invest in global companies out of India is via partnerships. To get the right deal flow, we are pleased to invest in and partner with Anthill Ventures that has invested and partnered with leading venture funds and incubators across Asia."
Prasad Vanga, Founder and CEO, Anthill Ventures, says, "We are excited to partner with Cambridge Innovations to identity the right start-ups to invest, mentor and speed scale. An important part of the strategy is the ecosystem that we bring to Cambridge Innovations which includes 91Springboard, a portfolio company of ours where a lot of start-ups are incubated".
About Cambridge Technology Enterprises:
Cambridge Technology Enterprises (CTE) is an IT services leader focused on the convergence of big data and cloud. Recognized as a thought leader and innovator of enterprise solutions, CTE focuses on cloud application development and management, data warehousing, business intelligence (BI) and analytics on the cloud. Through designing and implementing enterprise IT strategies that leverage the cloud's capabilities, CTE's end-to-end services enable its customers to harness the data available to them. Its expertise across domains makes CTE a preferred choice for IT Strategy and Implementation to its customers. For more information, visit www.ctepl.com or follow ( @ ) CTEofficial on twitter dot
About DMD Advocates:
DMD Advocates is a full service law firm successfully representing both domestic and international clients for the last 35 years in four core areas of practice: Litigation and Arbitration, Corporate, Taxation and Intellectual Property Rights. In addition to representing multi-national clients, we have been actively supporting start-up companies.
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