Zoho Corporation recently announced during their annual analyst summit their two latest achievements: a rate of 38% year-over-year growth and exceeding the 80 million users mark. Besides their continuing global expansion, Zoho keeps increasing their product portfolio, as well as making investments in other technologies like automotive, robotics, and health care.
These milestones affirm the company’s commitment to the development of robust solutions that support all businesses, many of which have been negatively impacted by recent economic disruption. As part of their growth, Zoho also celebrated the opening of 59 new global hub-and-spoke offices in rural areas and small cities throughout the last two years. This has the purpose of expanding into new markets and it’s also part of their continuous effort to support local communities.
Regarding their latest milestones, Sridhar Vembu, CEO of Zoho Corporation, stated the following:
“We’ve long felt that we have a responsibility to the communities and world around us, whether that be through providing job opportunities to those with less access or by delivering products that help business grow to their potential. Our approach from the start of Zoho —now 26 years ago— still rings true today: nurture people and businesses, and lower the barrier of entry. Cost effective, yet built-for-scale products and regionally located offices aside, Zoho has built its business by being a partner that helps people thrive. Our success is their success and vice versa.”
Zoho’s Strategic Investments and a Consortium of Local Technology
Meanwhile, the reasons for the strategic investments that Zoho has made in other industries are the development of advanced solutions and giving access to them by people in need. The investments were made in the following companies: Boson (a Silicon Valley-based smart electric utility vehicles and powertrains manufacturer); a partnership between the electric motorcycle company Ultraviolette Automotive with TVS Motor Company; and a $5 million investment in Voxelgrids (an Indian startup that builds MRI scanners).
Zoho also has formed a consortium of local technology companies based in the Kongu region of India. In it, Zoho will make a capital investment to set up centers in the region that focus on the research and development of critical technologies for capital goods manufacturing (industrial automation software, machine tools, and production process know-how).
In addition, Genrobotics —an Indian startup building robotics and AI-powered solutions for social issues like hazardous working conditions— has obtained a $2.5 million investment from Zoho. This will help Genrobotics in their mission to eradicate manual scavenging in India, while delivering safety and dignity to workers in the sanitation, oil, and gas industries.
The Aggressive Global Expansion Continues
In regard to Zoho’s global expansion through their Transnational Localism effort (which started in early 2020 to create self-reliant local communities and economies), they have opened 59 new global offices with local employees. Also, Zoho started partnerships with local organizations and government bodies to decrease the technology adoption barrier for businesses through different educational initiatives.
In addition to their aggressive expansion into new territories and markets like Canada, Latin America, the Middle East, Africa, and Southeast Asia, Zoho has revealed plans to open 100 new small-scale offices in rural districts across India in the next few years.
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