Atlassian Launches $50mn Global Venture Fund to Aid Indian Startups
20 October 2020
Australia’s leading software firm Atlassian Corporation on Monday announced the launch of Atlassian ventures, a new $50 million global fund will tap into India’s vibrant startup ecosystem. The company will fund startups including established companies, and is planning to expand its reach in India.
The firm also plans to build its research and development center in Bengaluru. Dinesh Ajmera, Site Lead and Head of Engineering, Bengaluru said that the funding would support early-stage startups when building apps for cloud products. The firm will also fund established companies that can create new products and help in upscaling their business. Atlassian will also provide global exposure and mentorship to the selected startups.
Atlassian has 4,200 apps available in its Marketplace and offers software products to leading companies like Ola Cabs, Reliance, Walmart Labs, and Flipkart. The strong network of funding by the firm will cater to the emerging startup ecosystem and help the market to recover after the pandemic.