Udit Agarwal
Microsoft corporate venture fund, M12, has now backed the health tech startup Innovaccer in its first India round of investment.
The investment in the Innovaccer is a result of M12 decision to start investing in the startups of Indian, the venture fund said in a statement. It did not specify the amount it invested in the Innovaccer.
“India is a market rich with entrepreneurs creating world-class startups that are poised for success on a global scale,” said Nagraj Kashyap, global head of M12 and corporate vice-president, Microsoft.
M12, which is formerly known as the Microsoft Ventures, also said that its India investments would also be going to be led by the partner Rashmi Gopinath.
The venture fund comprises of the experienced venture capitalist and Microsoft veterans, with the team members on the ground in the Northern Part of America, Israel, and Europe. Moreover, the M12 has invested in more than 70 startups in the areas which are ranging from the artificial intelligence and cybersecurity to the business software as a service and the industrial drones as well.
Innovaccer, which has its offices located in the US and India, works to solve the data challenges in the healthcare sector and helps the health system boost the financial and clinical outcomes with a data-first approach.
“Our unique value proposition is a holistic healthcare data platform that offers data aggregation and key analytics to help healthcare systems and insurance providers to align with value-based care models and realize significant cost savings and operational efficiency,” said Abhinav Shashank, chief executive at Innovaccer.
Innovaccer was founded by the Kanav Hasija, Sandeep Gupta and Shashank in 2012. In the year 2015, it has also secured the seed funding from the Google Indian head and 500 startups CEO and redBus CEO.
