Venture Capital Firm Stellaris which is led by Ritesh Banglani, Alok Goyal, and Rahul Chowdhri has secured an unknown sum from Cisco Investment. The corporate investor is the third major corporate to join Stellaris which is Bangalore based as a backer. IT major Infosys and SAP has also participated as partners in Stellaris.
Stellaris Venture Partners, launched in early last year, has funded about four startups including on-demand doctor consultation platform mFine, SaaS-based staff communication platform Noticeboard, enterprise-focused SaaS support platform Whatafix and mobile-centric B2B marketplace WYDR.
Last year, VC firm had claimed to be raising $100 million maiden fund with capital commitments from financial institutions, corporates, entrepreneurs, and family offices in the United States, Europe, and Asia. In February last year, it had reportedly raised $50 million from limited partners (LPs), including SIDBI.
Stellaris focuses on tech businesses which solve India-specific problems. It targets companies that focus on the next 300 million Internet users in India, targeting small businesses.
Stellaris invests in core enterprise space such as cloud, IoT, machine learning, enterprise applications, and analytics.Last year the Indian startup ecosystem witnessed the launch of various funds such as Stellaris, Pravega VC, Fundamentum and Fireside venture, among a few others.
Image Courtesy : knowyourstartup,Stellaris Venture.