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SAP.iO Foundry Bangalore Commits to Funding Tech Startups

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The first SAP.iO Foundry accelerator in Bangalore has committed to funding tech startups in India through SAP.iO Fund, one component of the SAP.iO open innovation model that enables innovators both inside and outside SAP to use the power of SAP data, application programming interfaces (APIs) and platform technologies to unlock new value for customers.

Following the announcement of SAP Startup Studio’s fourth cohort of early and growth-stage Indian startups in September, SAP, once again, has recognised six outstanding Indian startups to join the first SAP.iO Foundry accelerator program in Bangalore.

The SAP.iO Foundries, SAP’s global network of equity-free startup accelerators, are created to help promising startups integrate with SAP solutions and accelerate their entry into a curated, inclusive ecosystem whose offerings can be easily accessed and deployed by SAP customers. This month, SAP.iO Foundry Bangalore becomes the ninth strategic location for SAP.iO following the launch of SAP.iO Foundry Singapore and SAP.iO Foundry Tokyo.

Scott Russell, President of SAP Asia Pacific Japan (APJ) shared that SAP.iO Foundry Bangalore is a reflection of the German software company’s continued commitment to the dynamic Indian ecosystem. He stressed:

“We believe these startups have the ability to positively contribute to India’s growth potential by offering a variety of advanced solutions for SAP’s customers in India and the wider APJ region.”

The Select Six

The new Bangalore location will be the hub for the SAP.iO accelerator program, one of SAP’s innovation strategy designed to accelerate early-stage business-to-business (B2B) startups that build innovative software and deliver high value for SAP and its customers. The 13-week program is a testimony of SAP.iO Fund’s mission to funding tech startups in the early-stage phase that capitalise on emerging trends. 

The first SAP.iO Foundry Bangalore cohort is comprised of the following six early-stage B2B startups:

  • Adloid is a B2B technology company that provides end-end solutions and tools for developing AR/VR applications for furniture, automobile, and retail estate sectors.
  • FocusLabs, based in Kukatpally, provides a suite of logistics solutions built on artificial intelligence-based algorithms for route optimisation, load planning, and smart inspection.
  • Jumper.AI, founded in 2017,  is the leader in omnichannel conversational commerce solutions for large-scale direct-to-consumer brands that value customer relationships. It is the world’s first end-to-end conversational commerce and shopper engagement platform today used by enterprises like Disney, Unilever, Jollibee, Samsung, BMW, Reckitt Benckiser, and L’Oreal. 
  • Parcel Perform is the leading carrier-independent parcel tracking service for merchants worldwide with over 600 logistics carriers connected and the most comprehensive standardisation of logistics events. It offers value-added services to businesses to supercharge the postpurchase customer experience.
  • Saara provides image-recognition tools to automate inventory processes and reduce supply-chain costs. With AI-powered supply chain automation, Saara promises to reduce returns by up to 30{aa282f308afcc222aaa21b0478c79e01a8fedd01972e2180867097bd93930f22} and save up to 90{aa282f308afcc222aaa21b0478c79e01a8fedd01972e2180867097bd93930f22} of hours in managing returns and inventory.
  • Schrocken Inc. is an enterprise blockchain-based SaaS that helps enterprises outsource manufacturing with unprecedented transparency, control, and compliance adherence. Schrocken is one of the Top 5 products showcased at NASSCOM conclave 2019.

“We will be working hand in hand over the next three months with these innovative startups to help them accelerate and deliver winning outcomes and incremental value to our customers,” said Lalitha Bhaskara, SAP.iO Foundries APJ Head.

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