SAP Ventures funds One97

NEW DELHI: One97 Communications Limited, a mobile Internet company, has secured a significant amount of funding from SAP Ventures.

One97 plans to leverage its expertise and reach in mobile ecosystems to create dominance in the mobile Internet marketing and commerce segment, a press release adds. The company also plans to expand its operations in the emerging mobile markets. More than 450 million mobile users used One97's mobile marketing and commerce platform for conducting transactions in the month of August 2011, it shared.

"This investment by SAP Ventures is a great reinforcement of One97's team and growth trajectory," said Vijay Shekhar Sharma, chairman and managing director, One97. "India offers huge potential for services leveraging mobile Internet technologies, and this capital investment will help take us to the influx point of growth."

"Mobility and emerging markets are both key focus areas for SAP, and One97 is right in the middle of exploding mobile usage among consumers in developing countries who are using their mobile phones to access the Internet, play games, buy content and shop online," said Jai Das, managing director, SAP Ventures. "In India, one97 has one of the largest user bases and is also one of the largest consumer Internet companies by revenue. It is rapidly expanding its services to other developing countries in South Asia and Africa. SAP Ventures will leverage SAP and its extensive ecosystem to help One97 expand its global reach."