Australia’s Software giant Atlassian announced $50mn global venture fund to focus on Indian startups.

Australia’s top software company, Atlassian Corporation on Monday, announced the launching of Atlassian Ventures. This brand new $50 million worldwide fund can invest startups, such as established businesses building goods in its ecosystem.

The organization which put up a research and development center In Bengaluru a year ago with plans to enlarge it further said it is eager to Nurture India’s lively startup ecosystem and wealthy technological talent pool.

India’s cloud marketplace quite biggest in the Asia Pacific area; we consider this finance will be an perfect chance for up-and-coming startups from India to get financing when building programs for our cloud goods,” said Dinesh Ajmera, Website Lead and Head of Engineering, Bengaluru, Atlassian.

“India is a Substantial market for Atlassian, one That’s teeming with an extraordinary developer community and a lively startup ecosystem which we plan to tap into,” he added.

Also read | Driving mode in Google Assistant begins rolling out on Android

Atlassian Ventures will invest in three kinds of businesses. Firstly, the early-stage startups That Are building apps For any of Atlassian’s cloud solutions.

“Second, the larger, more recognized ecosystem Product partners who are ascaling their businesses and ultimately, the present sales channel partners that are looking to step up their cloud solutions and create new products that encourage the potential of teamwork,” the firm informed.

Included in this programme, most companies that receive financing Are also qualified for mentorship in addition to global exposure at Atlassian events,” Ajmera said.

Viswanath said the company plans to hire 300 more people during the following year in addition to 200 it’s recruited for the R&D centre and the service centre.

Also read | China’s economy starts accelerates as virus recovery gains strength

Atlassian has over 4,200 programs accessible its Marketplace And provides integrations with popular tools like Slack, Zendesk and GitHub.

The company’s has software products such as Jira, Confluence, Bitbucket and Trello are used by 144,000 customers worldwide, including Ola Cabs, Reliance, Walmart Labs, and Flipkart, to name a few.