SAP Ventures has invested $10 million in Delhi-based mobile internet services firm One97 Communications.
One97 earlier raised investment from Intel Capital, SAIF Partners and Silicon Valley Bank and the fresh round of funding will be used for expansion in emerging markets like Asia, Africa. One97 is betting big on the emerging opportunity in Mobile Internet Business In India and has also invested in several SE Asian startups like Tencubes (which was acquired by McAfee).
As per ET, One97 crossed a turnover of Rs 200 crore this year (from Rs 11 crore revenues three years ago).
SAP Ventures earlier invested $10mn in Justdial (along with Sequoia Capital).
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