One97 Communications closes funding from SAP Ventures

Communications, a VAS player in India, announced it has secured a significant
amount of funding from SAP Ventures.

plans to leverage its unparalleled expertise and reach in mobile ecosystems to
create dominance in the mobile Internet marketing and commerce segment. The
company also plans to expand its operations in the emerging mobile
markets. More than 450 million mobile users used One97’s mobile marketing
and commerce platform for conducting transactions in the month of August 2011.

investment by SAP Ventures is a great reinforcement of One97’s team and growth
trajectory,” said Vijay Shekhar Sharma, chairman and managing director, One97.

offers huge potential for services leveraging mobile Internet technologies, and
this capital investment will help take us to the influx point of growth,”
Sharma added.

and emerging markets are both key focus areas for SAP, and One97 is right in
the middle of exploding mobile usage among consumers in developing countries
who are using their mobile phones to access the Internet, play games, buy
content and shop online,” said Jai Das, managing director, SAP Ventures.

India, One97 has one of the largest user bases and is also one of the largest
consumer Internet companies by revenue. It is rapidly expanding its services to
other developing countries in South Asia and Africa. SAP Ventures will leverage
SAP and its extensive ecosystem to help One97 expand its global reach,” Das

By Team
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