Microsoft will be investing in yet another Indian company. The company's venture fund, M12, will invest in various startups, with Innovaccer being among the first of recent companies to receive funding from the tech giant. According to Microsoft, Innovaccer is a startup that aims to solve problems with data interoperability in health care, and improve outcomes for health systems. In the words of the company's global head of M12, Nagraj Kashyap:
“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.“
The company's M12 startup has already made investments to other prior startups, as well. Microsoft explains that these range from "cybersecurity and artificial intelligence to business SaaS and industrial drones." For those unfamiliar, M12, formerly known as Microsoft Ventures, is a cooperate venture fund which invests in startups, which Microsoft serving as a strategic partner as the companies grow.
Investments to an Indian startup like this is not surprising. The company cites the country's business-to-business increased equity funding up to $3.08 billion in 2018, a 28% increase from the previous year. Microsoft's own CEO Satya Nadella is a fellow Indian American himself, so it seems only logical for his company to have familiarity with those businesses.