Apollo to invest $30 mn in India in 2 years

IT company Apollo plans to invest over USD 30 million (about Rs 232 crore) in India over the next two years.

As a part of its recent series-C funding of USD 110 million (about Rs 852 crore) led by Sequoia, the B2B sales intelligence and engagement platform Apollo announced its first office space in India, located in Bengaluru, to house its R&D team.

Additionally, the company will hire over 100 research and development (R&D) engineers in the coming months.

''Our recent Series C funding has enabled us to expand our footprint in India with our first R&D office space set to be located at Bengaluru after having worked remotely through the pandemic. ''We look forward to scaling our India team rapidly. It will play an important role in bolstering our core R&D team, our business growth and global expansion,'' Apollo Co-Founder and CEO Tim Zheng said in a statement.

Apollo claims to have over 16,000 clients globally.
 

Also Read: SC order on GST Council: Are we going back to the dark ages of indirect taxes?

Also Read: RBI notifies on card-less cash withdrawal at ATMs: Details here