Significant Investment in India by Cohesity
New Delhi, the US-based data security software firm Cohesity has unveiled an ambitious $1 billion investment plan in India over the next five years. This initiative aims to expedite the scaling of its engineering operations and solidify its footprint within one of its most rapidly expanding markets.
Backed by industry titans such as Nvidia and Japan’s SoftBank, this investment underscores the company’s strategic commitment to innovation in data management.
Cohesity’s CEO, Sanjay Poonen, articulated that the primary focus of this investment lies in the augmentation of the company’s technical teams.
The plan includes the development of cutting-edge, AI-driven capabilities designed to bolster enterprises’ ability to protect and manage data amid the increasingly perilous landscape of cybersecurity threats.
Poonen further elucidated that their workforce in India has experienced remarkable growth, tripling from approximately 700 to around 2,200 employees following the acquisition of Veritas’ data protection division.
A new facility has been inaugurated in Bengaluru, enhancing the existing operations in Pune, thereby deepening their engineering capabilities in the region.
“Our teams are orchestrating the future of data security, fortifying customers’ defenses against the evolving nature of cyber threats,” Poonen remarked. He added that India is poised to emerge as one of Cohesity’s top five revenue-generating countries in the years to come.
Cohesity is currently servicing a diverse clientele that includes leading banks, telecommunications providers, and global enterprises such as Salesforce and Delta Airlines, as well as prominent Indian IT firms like Infosys. This aggressive push into India aligns with a global surge in interest in deep-tech and cybersecurity innovation.
Recently, Nvidia collaborated with a consortium of investors from India and the US to establish the India Deep Tech Alliance. This alliance has pledged over $850 million to support startups focused on semiconductors, AI, robotics, and space technology.
The initiative aims to mitigate long-term funding challenges commonly faced by deep-tech ventures requiring substantial capital and protracted research cycles.
As India’s technology ecosystem transitions towards a landscape focused on advanced, innovation-centric growth, Cohesity’s substantial investment reinforces the momentum initiated by major global players in broadening their strategic engagement within the country.
Analysts recognize that this move aligns seamlessly with India’s overarching aspiration to cultivate a robust deep-tech ecosystem and evolve into a global nexus of innovation.
Source link: Ciso.economictimes.indiatimes.com.
