Zoho commits Rs 1,100 Cr investment to fuel digital infrastructure in Saudi
The company is allocating Rs 221 crore to small and medium-sized (SMEs) businesses in Saudi Arabia, which they can use each year for ten years to access its more than 55 cloud applications and training.
Chennai-based Saas unicorn plans to invest Rs 1,100 crore (SAR 500 million) in Saudi Arabia to enhance its digital infrastructure and form strategic partnerships with local government entities to support Saudi Vision 2030.
The company is also allocating Rs 221 crore to small and medium-sized (SMEs) businesses in Saudi Arabia, which they can use each year for ten years to access its more than 55 cloud applications and training.
With plans for further expansion, Zoho has established two data centres in Jeddah and Riyadh in compliance with the Personal Data Protection Act (PDPL) and has hired 25 Saudi Arabian employees.
“Zoho Corporation has a strong R&D foundation, as we have invested in building our full technology stack, including the data centres that are run using our proprietary patented technology. We have our robust solutions available in Saudi Arabia through our two established brands: ManageEngine and Zoho that are serving the local businesses," said Sridhar Vembu, CEO and Co-founder, Zoho Corp.
Additionally, 83% of the local team in the Kingdom is comprised of Saudi nationals.
"With our philosophy of transnational localism, we are committed to building strong roots here in order to serve the businesses and the community long term. We are here to stay, build and serve,” he added.
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Zoho has 18 global data centres and is expanding its presence in some locations, including Mexico and India. Zoho has opened an office in Mexico and plans to open 100 rural offices in India, including a campus in Tirunelveli.
In February, the company surpassed $1 billion in sales, generating an operating revenue of Rs 8,703 crore for FY23, a 29% increase from the previous year. The company's overall revenue was Rs 9,158 crore, and its net profit increased by 3% to Rs 2,836 crore in FY23, compared to Rs 2,749 crore in the previous year.
Zoho, founded in the late 1990s, has a 90 million user base across 600,000 businesses in India. It has offices in key cities like Delhi, Mumbai, Kolkata, Bengaluru, and Hyderabad.
(With inputs from Zawya)
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