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Cambridge Innovations, an arm of Cambridge Technology Enterprises (CTE), is targeting to invest in 50 start-ups in the areas of cloud, analytics, Internet of Things and convergence of technologies, by 2019. CI has already invested in 10 firms since its inception in December 2015.
“We are looking at investing in early- and growth-stage start-ups that require critical help in the initial phase. We typically take 5-10 per cent in the start-ups in the seed round. Follow-on investments might happen in some of the firms,” Ashish Kalra of CTE told BusinessLine . The firm, which clocked revenues of ₹19.70 crore in the fourth quarter of 2016, targets to earn ₹13.40 crore ($2 million) a month by March 2017.
The BSE-listed firm, however, doesn’t have any plan to raise funds to invest in the start-ups. “We can generate funds internally for the purpose,” Kalra said. It has roped in Alexis Kopikis, a start-up enthusiast with experience in design, rapid prototyping and business strategy, to lead the CI team.
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