Atlassian’s $50mn global venture fund to focus on Indian startups (Ld)

Bengaluru, Oct 19 : In a bid to tap into India’s growing startup and developer community, Australia’s leading software firm Atlassian Corporation on Monday announced the launch of Atlassian Ventures, a new $50 million global fund that will invest startups, including established companies that are already building products in its ecosystem.
The company which set up a research and development centre in Bengaluru last year with plans to expand it further, said it is keen to nurture India’s vibrant startup ecosystem and rich technical talent pool.
“With India’s cloud market among the largest in the Asia Pacific region, we believe this fund will be an ideal opportunity for up-and-coming startups in India to access funding when building apps for our cloud products,” said Dinesh Ajmera, Site Lead and Head of Engineering, Bengaluru, Atlassian.
“India is a significant market for Atlassian, one that’s teeming with an extraordinary developer community and a vibrant startup ecosystem that we plan to tap into,” he added.
The company’s software products such as Jira, Confluence, Bitbucket and Trello are used by 174,000 customers worldwide, including Ola Cabs, Reliance, Walmart Labs, and Flipkart, to name a few.
Atlassian Ventures will invest in three types of companies.