Cisco announces US $150 mln for early-stage companies

San Francisco, May 1, 2014: Cisco Investments, the corporate venture capital arm of Cisco has announced it will invest US $150 million into early-stage companies to foster growth in global startups community.

The San Jose-based Cisco has been quite bullish on the emerging field of the Internet of Things (IoT), and it’s Internet Business Solutions Group (IBSG) predicts that over 25 billion devices will be connected by 2015, and 50 billion by 2020.

The Internet of Things, as industry experts call the trend, will revolutionise homes and businesses. Toasters, thermostats and refrigerators are expected to get a whole lot “smarter” in the coming days.

Cisco Investments also today announced it has made three minority investments in IoT accelerators and startups Alchemist Accelerator, Ayla Networks and EVRYTHNG. The new funding increases Cisco Investments’ thematic investing to $250 million total, adding to the previously announced $100 million commitment to startups focused on the emerging Internet of Everything (IoE) market opportunity

“Our ability to identify and stay ahead of market disruptions is deeply rooted in our build, buy, partner and integrate approach to innovation,” said Hilton Romanski, senior Vice President, Cisco Corporate Development. “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. 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.”

In March this year, Cisco had announced the Internet of Things Security Grand Challenge asking the global security community “to propose practical security solutions across the markets being impacted daily by the IoT.” The company had offered a total US $300,000 worth of prizes.

Image Credit: Cisco

– Advertising Message –

Leave a Reply

Click here to opt out of Google Analytics