There’s more money coming in for Indian startups. M12, Microsoft’s corporate venture fund, announced it would extend its investing coverage to India. Rashmi Gopinath, partner at M12, will be leading M12’s investments in India. Microsoft continues its portfolio of investment in the Indian startup ecosystem with M12 announcing its first India investment today, Innovaccer, a startup working to solve data interoperability challenges in healthcare and helping health systems enhance their clinical and financial outcomes with a data-first approach.

India is already a hotbed for tech investments. Tracxn data shows, that VC investments in Indian tech business-to-business (B2B) start-ups have been trending upwards with over US$3.09B raised in equity funding across 415 deals in 2018, 28 percent more than $2.41B invested in 2017. Moreover, an increasing number of enterprise B2B startups 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 focus areas for Microsoft and M12 as well.

We are thrilled to broaden M12’s reach to include India

India is a market rich with entrepreneurs creating world-class startups that are poised for success on a global scale. In working with these innovative startups, we believe together we will help disrupt enterprises and industries ripe for digital transformation.

said Nagraj Kashyap, Global head of M12 and Corporate Vice President, Microsoft.

Innovaccer, the health tech startup that is the first in India to get an investment via M12, has offices in both India and the United States, offering a comprehensive Healthcare Data Platform and intelligent care application modules for over 10,000 healthcare providers across 500 practice locations. Leveraging machine learning and healthcare-related contextual expertise, Innovaccer enables its users to consolidate financial, claims, patient, and operational data together to provide a comprehensive patient 360-view for better decision-making, care coordination, and reporting.

M12 is comprised of experienced VCs and Microsoft veterans—with team members on the ground in North America, Europe and Israel. Globally, M12 has invested in over 70 startups in areas ranging from cybersecurity and artificial intelligence to business SaaS and industrial drones. While the investment team functions like a traditional VC firm, the portfolio development and venture engagement groups strengthen the lines of communication between Microsoft and many of the innovation communities around the world. It has access to, and knowledge of, Microsoft’s strategic assets, enabling it to value add in excess of the contributed capital.

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