International technology company Zoho Corporation reports revenue growth of 38% from 2021, passing the milestone of 80 million global users. The company continues to drive its global growth, expanding its product offering and investing in automotive solutions, robotics and healthcare technology. Zoho opened 59 new offices in rural areas and small towns in all parts of the world in the past two years. This aligns with the company’s strategy of entering new markets and supporting local communities.
“For many years, we have been very aware of our responsibility for the outside world and the local communities in which we operate. This is reflected, among other things, in the creation of employment opportunities for people with limited access to the labor market and the developing solutions that help companies to realize their growth potential,” said Sridhar Vembu, CEO of Zoho Corporation. “Our approach has remained unchanged since Zoho was founded 26 years ago. We want to meet the needs of people and businesses and lower their technological entry barrier. Zoho has built a strong market position with affordable, scalable solutions, opening regional offices and acting as a partner that helps people and businesses grow. Their success is our success and vice versa.”
Zoho has made strategic investments in automotive solutions, robotics and healthcare technology. The goal is to develop advanced solutions and make them available. Examples of investments include:
An investment in Boson, a Silicon Valley-based maker of smart electric powertrains and light commercial vehicles. Boson’s first focus is on the agricultural sector. This aligns with Zoho’s strategy to expand into rural areas around the world.
An investment in Ultraviolet Automotive, an electric motorcycle manufacturer in partnership with TVS Motor Company, an India-based motorcycle manufacturer. This total investment is approx. USD 15 million The aim is to support the planned launch of a new high-performance electric motorcycle in 2022.
A $5 million investment in Voxelgrids, an Indian startup developing MRI scanners. Zoho aims to stimulate the development of advanced technology and intellectual property in India.
The creation of a consortium of local technology companies in the Kongu region of India. In this context, Zoho provides capital for the establishment of regional R&D centers dedicated to the development of manufacturing process know-how and essential technologies for the development of machine tools and software for industrial automation, among others.
A $2.5 million investment in Genrobotics, an Indian startup developing robotics and AI-powered solutions to end societal abuses such as hazardous working conditions. Zoho’s investment will help Genrobotics end practices such as manual draining of cesspools in India and ensure the safety and dignity of people working in the sanitation and oil and gas industries.
Innovation and diversity within R&D
Zoho’s investment and innovation philosophies are rooted in R&D. The focus is on developing powerful integrated tools that meet each company’s specific business needs and vision. Over 60% of Zoho’s workforce is engaged in developing new technologies and ways to integrate and complement applications. Zoho has developed over 55 applications till date. While the size of its product offering continues to grow, Zoho remains committed to providing affordable solutions and developing software that meets the needs of small and medium-sized businesses.
Transnational localism: Zoho’s field-proven growth philosophy
Zoho continues the global expansion momentum with its transnational localism initiative launched in early 2020. With this, the company wants to contribute to self-sufficient local communities and economies. The initiative has grown through the opening of several new global offices, the recruitment of local staff, partnerships with local organizations and public authorities that lower the technology barrier for businesses, upskilling courses in partnership with educational institutions, support for right-to-left languages such as Arabic and special local prices for different countries.
Zoho has opened local offices based on a hub and spoke model as part of its transnational localism initiative. This means that larger companies act as a focal point for dozens of small businesses in rural areas and small towns. Thanks to this growth strategy, people do not have to leave their hometowns to find work. Instead, they can contribute to the local economy by working for a leading global technology company.
Zoho has improved the availability of software solutions and local language support with the opening of 59 local offices in the past two years. In addition to aggressively expanding into new regions and markets such as Canada, Latin America, the Middle East and Southeast Asia, Zoho has announced plans to open 100 new small businesses in rural areas across India over the next few years.
Zoho has achieved impressive regional growth. For example, the number of employees outside India has grown by 300% since the beginning of 2020. Zoho plans to hire at least another 2,000 software engineers, technology and product development professionals over the next year. This specifically includes programmers, quality controllers, product marketers, technical writers and support staff and sales managers.