A $1 billion investment in the software industry, a company announces
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A $25 million investment by a Chinese software company in the Indian software industry has triggered excitement among Indian software developers.
Benextor India’s first investment will see the company buy software brands software firm, software brands company and develop a platform for developing applications.
The company has also raised another $2.5 million from Chinese venture capital company Shanghai Jiao Tong.
It is the second such venture by the company, which was formed by founders Arup and Sunil Arup.
The first investment was $1.6 billion in 2016.
The Baidu acquisition is part of a broader $US8 billion investment made by the Chinese state-owned tech giant in India.
Baidu had recently announced plans to build an internet and cloud platform in India by 2019.
This includes a $US1 billion project to build a data centre in the city of Pune and a $2 billion investment to establish an office and supply hub in Bangalore.
Bengaluru is the hub of the Indian tech sector, with more than 10 million jobs.
A $25 million investment by a Chinese software company in the Indian software industry has triggered excitement among Indian software…
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