SAP Labs India expands investments in AI and sustainability, NetApp’s Excellerator graduates 6 deeptech startups
- ByStartupStory | April 29, 2023
SAP Labs India marks 25 years of operations and commits to expanding investments and focus on AI technologies. The Bengaluru-based R&D unit of the global technology company has contributed significantly to flagship solutions such as enterprise resource planning, customer experience, and cloud ERP since its founding in 1998. Additionally, the company is committed to investing more in India while expanding its focus on sustainability, supply chain resiliency, and the future of work.
According to a statement by the company, India is one of the fastest-growing regions for SAP, with the region’s contribution to SAP APAC’s cloud revenues doubling in the last two years. SAP Labs India is set to increase its investments in the region and expand its focus on AI technologies. The company is also constructing a second campus in Bengaluru, which is expected to create 15,000 jobs in India’s technology sector.
According to Sindhu Gangadharan, MD and SVP of SAP Labs India and Head of SAP User Enablement, India is a compelling market for SAP due to its rapid growth and the presence of SAP’s largest R&D center. The company aims to enhance its expertise in artificial intelligence, sustainability, and cloud technologies while also prioritizing the development of tech talent and industry-academia relationships in the region.
NetApp’s accelerator programme, the NetApp Excellerator, celebrated the graduation of six deeptech startups from its 11th cohort, namely Zluri, AppSenitels, RapL, PrivaSapien, Firefly, and Squadcast, at a demo day event. According to NetApp, these startups have developed advanced solutions in the area of data security, and have collaborated with NetApp mentors to enhance their technology and marketing strategies for a competitive edge. PrivaSapien, one of the graduating startups, was guided by the NetApp ExcellerateHER initiative that focuses on supporting women-led startups in the B2B deeptech sector. The programme has mentored 12 such startups since its inception.
According to NetApp, participating deeptech startups in its accelerator program have collectively raised over $330 million in funding, with $160 million raised in 2022 alone. The program has mentored a total of 72 startups and 18 have engaged in proof of concept with the backing of NetApp’s funding and technology support. Out of the 11 cohorts, 24 startups are based outside India. For the current cohort, AppSentinels and RapL have already implemented successful POCs, while seven startups have had successful exits.
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