Cisco Systems, Inc. (NASDAQ:CSCO) through its corporate venture capital arm, Cisco Investments allocated additional $150 million funding for startups engaged in Internet of Things (IoT) over the next two to three years.
Disruptive technology markets
According to the company, the new allocated funding builds on the current $2 billion portfolio of Cisco Investments as part of its objective to further boost innovation in the global startup community.
Cisco Systems, Inc. (NASDAQ:CSCO) is also focused on accelerating the development of disruptive technology markets such as big data and analytics; the Internet of Things, connected mobility, storage, silicon, content technology ecosystem, as well as innovation in India.
In a statement, Hilton Romanski, senior vice president of corporate development at Cisco Systems, Inc. (NASDAQ:CSCO) said, “Our ability to identify and stay ahead of market disruptions is deeply rooted in our build, buy, partner and integrate approach to innovation. We gain valuable insight and an understanding of market trends through equity investments in young and interesting companies who are leading the way through new market disruptions.”
Cisco minority investments
Cisco Systems, Inc. (NASDAQ:CSCO) announced that its corporate venture capital arm made three minority investments Alchemist Accelerator, Ayla Networks, and EVRYTHNG.
“Our investments in Alchemist Accelerator, Ayla Networks and EVRYTHNG align with our focus on early-stage innovation and companies focused on the Internet of Things,” said Romanski.
Cisco Investments already invested a total of $250 million including the previously announced $100 million investment to startups that are focused on the emerging Internet of Things market opportunity.
The venture capital arm also aims to speed up the development of the portfolio companies by connecting them to experts and resources including the business leaders and network partners, customers as well as the IT of Cisco Systems, Inc. (NASDAQ:CSCO) through major industry events such as the annual Cisco Live.
Dave Friedman, co-founder and CEO of Ayla Networks said, “Cisco Investments was quickly able to grasp the huge potential for Ayla’s Agile IoT platform technology and business model. The Internet of Things represents one of the largest opportunities in technology, and Ayla is fortunate to be able to access the resources, expertise and relationships that Cisco Investments can bring.”
Cisco Systems, Inc. (NASDAQ:CSCO) currently has an active portfolio worth $2 billion with over 80 direct investments and limited-partner positions in more than 35 funds worldwide.