Bangalore: Microsoft’s corporate venture fund M12 said it would extend its investing coverage to India to help entrepreneurs innovate and grow with Microsoft’s reach, expertise, and technologies.
Rashmi Gopinath, partner – M12, will be leading M12’s investments in India. The company’s investment portfolio includes the Indian startup ecosystem.
In fact, M12, erstwhile Microsoft Ventures, today announced its first India investment in a digital health platform 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. The company has made an undisclosed investment in this startup.
“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 – M12 and Corporate VP – Microsoft.
Innovaccer, a healthcare SaaS startup has offices in both India and the US, 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, this startup 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.
“Our unique value proposition is a holistic healthcare data platform that offers data aggregation and key analytics to help healthcare systems and insurance providers to align with value-based care models and realize significant cost savings and operational efficiency. We are excited to work with M12 and Microsoft in order to leverage their best-in-class technical, industry, and go-to-market expertise to help address needs for healthcare organizations across the world,” said Abhinav Shashank, CEO Innovaccer.
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.
Venture capital investments in Indian tech business-to-business (B2B) startups have been trending upwards with over $3.09 billion raised in equity funding across 415 deals in 2018, 28% more than $2.41 billion invested in 2017, according to Tracxn 2018 data.