New Dehli-based One97 Communications Limited, a mobile Internet company, has secured a significant amount of funding from SAP Ventures.
One97 Communications Limited, India’s leading mobile Internet company, today announced it has secured a significant amount of funding from SAP Ventures.
“This investment by SAP Ventures is a great reinforcement of One97’s team and growth trajectory”
One97 plans to leverage its unparalleled expertise and reach in mobile ecosystems to create dominance in the mobile Internet marketing and commerce segment. The company also plans to expand its operations in the emerging mobile markets. More than 450 million mobile users used One97’s mobile marketing and commerce platform for conducting transactions in the month of August 2011.
“This investment by SAP Ventures is a great reinforcement of One97’s team and growth trajectory,” said Vijay Shekhar Sharma, chairman and managing director, One97. “India offers huge potential for services leveraging mobile Internet technologies, and this capital investment will help take us to the influx point of growth.”
“Mobility and emerging markets are both key focus areas for SAP, and One97 is right in the middle of exploding mobile usage among consumers in developing countries who are using their mobile phones to access the Internet, play games, buy content and shop online,” said Jai Das, managing director, SAP Ventures. “In India, One97 has one of the largest user bases and is also one of the largest consumer Internet companies by revenue. It is rapidly expanding its services to other developing countries in South Asia and Africa. SAP Ventures will leverage SAP and its extensive ecosystem to help One97 expand its global reach.”
About One97 Communications
One97 Communications is India’s pioneering mobile Internet services company. One97 runs one of the largest consumer facing mobile marketing and commerce platforms that serves millions of users every day.
Backed by marquee investors including Intel Capital, SAIF Partners, SAP Ventures and Silicon Valley Bank, One97 thrives on disruptive innovation in mobile technologies.
About SAP Ventures
SAP Ventures partners with outstanding entrepreneurs worldwide to build industry-leading businesses. We are funded by SAP AG (NYSE: SAP), the market leader in enterprise application software, and we leverage the relationship with SAP and its ecosystem for the benefit of portfolio companies. SAP Ventures invests in technology businesses that serve enterprises as customers or have enterprises as go-to market partners as well as companies that service consumers in their professional lives. Over the last 15 years, SAP Ventures has supported more than 100 companies on five continents. Past investments include Commerce One, Greenplum, MySQL, Red Hat, and WebEx. Current portfolio companies include Alfresco, Alteryx, Control4, Endeca, iYogi, LinkedIn, OnDeck, OpenX, SAVO, Spring Wireless, Tealeaf, Tremor Media, and Zend.