India’s second largest telecom operator Bharti Airtel on Wednesday said it has acquired a 7% stake in cloud-based networking solutions provider Conergy Technologies under the Airtel Startup Accelerator programme.
Navi Mumbai-based Cnergee specializes in integrated networking solutions on the cloud for businesses of all sizes.
The telco bought the stake at a mutually agreed pre-money enterprise valuation, but did not disclose the valuation due to confidentiality reasons.
Airtel said in a statement that the stake acquisition will enable the company to accelerate its NaaS offering for small and medium businesses (SMBs) who are looking to accelerate their shift to cloud-based applications.
The Navi Mumbai-based startup has developed a range of 5G ready software tools for Network-as-a-Service (NaaS) that can be scaled up to enable zero-touch service provisioning, central remote monitoring and management of all connected devices. can be deployed on. With a host of real time analytics.
“Airtel is on a mission to accelerate the digital transformation journey of enterprises through our world-class NaS platform. We welcome Cnergee to the Airtel Startup Accelerator program and scale up our ‘Made in India’ solutions in the rapidly growing NaS We look forward to being positioned on the market in India,” Ajay Chitkara, Director and CEO, Airtel Business, said in the statement.
Airtel Business serves over one million businesses of all sizes through its integrated portfolio – Connectivity, Conferencing, Cloud & Data Center, Cyber Security, IoT, Ed-Tech, CPaaS (Airtel IQ) etc.
“It is an exciting time to partner with Airtel on this digital transformation journey and reach emerging businesses of all sizes driving Digital India,” said Suvarna Kulkarni, Founder and MD, Kanerji Technologies.