 "Airtel buys 7% in cloud networking startup Cnergee Tech for undisclosed sum")
Telecom operator Bharti Airtel has acquired around 7 per cent stake in cloud-based networking solutions provider Cnergee Technologies under the Airtel Startup Accelerator Program.
The stake acquisition will enable Airtel to sharpen its NaaS proposition for Small and Medium Businesses (SMBs), who are looking to accelerate their shift to cloud-based applications, Airtel said in a statement.
Navi Mumbai-based Cnergee specializes in integrated networking solutions over cloud for businesses of all sizes.
Airtel has bought the stake at mutually agreed pre-money enterprise valuation but did not disclose the valuation due to reasons of confidentiality.
Cnergee has developed a range of 5G ready software tools for Network-as-a-Service (NaaS) that can be deployed at scale to enable zero-touch service provisioning, central remote monitoring, and management of all connected devices with a host of real-time analytics.
"Airtel is on a mission to accelerate the digital transformation journeys of enterprises through our world-class NaaS platform. We welcome Cnergee to the Airtel Startup Accelerator Program and look forward to deploying their 'Made in India' solutions at scale in the fast growing NaaS market in India," Airtel Business, director and CEO, Ajay Chitkara said in the statement.
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Airtel Business serves over one million businesses of all sizes through its integrated portfolio of connectivity, conferencing, cloud & data centers, cyber security, IoT, Ad-tech, CPaaS (Airtel IQ) etc.
"It is an exciting time for Cnergee to partner with Airtel in this digital transformation journey and reach out to emerging businesses of all sizes driving Digital India," Suvarna Kulkarni, Founder and MD Cnergee Technologies said.
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