Apus, a China-based provider of services for Android phones, has set up an incubator in India to go alongside a corporate venturing fund it set up for the country last year.
India is Apus’ largest market, representing 16% of its users, representing compared to 5% in China. The company plans to invest a total of $44m in a startup incubator, a research and development centre and a sales and business development office in Gurgaon, India, in 2017.
Apus set up a $45m specialist fund in December 2015 to invest in India-based mobile internet companies, with money included from its venture capital shareholders, Northern Light Venture Capital, Redpoint Ventures, Chengwei Ventures, SIG Global and Qiming Venture Partners. Its first deal was an investment in media blog Iamwire.