Zoho Corporation, a leading global technology company, has announced that it has achieved a 38% year-on-year growth rate and surpassed the 80 million user mark for its services. In addition to continuing global expansion, the company continues to expand its product portfolio and announces investments in automotive, robotics and healthcare technologies. Zoho also celebrated the opening of 59 new spokesperson offices in rural areas and small towns, expanding into new markets and further supporting local communities.
The announcement, made during ZohoDay, an annual summit hosted by Zoho with analysts from around the world, reaffirms the company’s commitment to developing resilient solutions that support all businesses, many of which have been negatively affected by the recent economic disruption.
“We’ve long felt we have a responsibility to the communities and the world around us, whether it’s providing jobs for those with less access or delivering products that help companies reach their potential.” said Sridhar Vembu, Director Executive of Zoho Corporation. “Our focus from Zoho’s inception 26 years ago remains true today: to cater to people and businesses and lower their barriers to entry. By delivering products that are cost-effective, yet scalable and localized to regional offices, Zoho has built its business as a partner that helps people thrive. Our success is your success and vice versa.”
Zoho has made strategic investments in automotive, robotics and healthcare technology to support the development of and access to advanced solutions for those who need them. Among which:
● An investment in Ultraviolet Automotive’s electric motorcycle business in partnership with TVS Motor Company, an India-based motorcycle manufacturer. The combined amount is equivalent to approximately $15 million and will support the launch of a new high-performance electric two-wheeler scheduled for late 2022.
● An investment in smart electric vehicle and powertrain manufacturer Boson, which focuses on light commercial vehicles (LUVs). Based in Silicon Valley, Boson’s primary focus is agricultural work, a vision Zoho shares as it expands to rural areas around the world.
● Investment of $5 million in Voxelgrids, an Indian startup that builds magnetic resonance imaging (MRI) scanners. This promotes the development of deep technology capabilities and intellectual property (IP) in this country.
● Form a consortium of local technology companies in the Kongu region (India). Through this initiative, Zoho will make a capital investment to establish research and development centers for critical technologies for manufacturing capital goods, such as machine tools, industrial automation software, and manufacturing insights.
● A $2.5 million investment in Genrobotics, an Indian startup that creates robotics and artificial intelligence solutions for societal issues, such as improving hazardous working conditions. Zoho’s investment will help Genrobotics in its mission to eliminate manual waste collection in India and bring safety and dignity to workers in the oil and gas and sanitation industries.
Innovation and R&D diversity
Zoho’s investment and innovation philosophies are based on the research and development of powerful, unified tools that can be customized to meet the unique business needs and visions of each organization. More than 60% of the company’s workforce is dedicated to engineering, both developing new technologies and creating ways for these tools to complement and integrate each other. To date, Zoho has developed over 55 apps, up from 40 that existed in its portfolio just two years ago. While the scope of our offerings continues to grow, our pricing remains the same and we remain committed to affordability – through free and paid versions of each product – and to providing software that meets the diverse needs of small and medium-sized businesses.
Zoho’s Proven Growth Philosophy: Transnational Localism
Zoho continues to expand globally through its transnational localization efforts, first introduced in early 2020 as a way to create opportunities for local communities and economies. Since then, the initiative has expanded into new global offices, local recruits, partnerships with local organizations and government agencies to reduce barriers to business technology adoption, training in partnership with educational institutions, language localization (including support for Spanish and Portuguese), and the ability to have local prices in multiple countries.
The offices opened as part of Zoho’s Transnational Localism efforts follow a hub-and-spoke model, with a few larger offices serving as hubs for several dozen small hub offices in rural areas and cities around the world. This growth method allows employees to stay in their hometowns and contribute to their local communities, while working for a leading globally recognized technology company.
The company improved access to both Zoho software and localized support, opening 59 offices in the past two years. In addition to aggressive expansion into new territories and markets, including Canada, Latin America, the Middle East, Africa and Southeast Asia, Zoho has announced plans to add 100 new small-scale offices in India’s rural districts over the next few years.
Zoho has seen impressive regional growth, with a 300% increase in its workforce outside India since early 2020. It also aims to hire at least 2,000 employees in engineering, technology and product development, especially software developers. developers, designers, marketers, writers, technical support engineers and sales managers for the coming year. Zoho’s recent office openings in McAllen and New Braunfels, TX, in April 2022 and December 2021, respectively, exemplify this mission. Since opening, the McAllen office now houses more than 40 employees from surrounding communities and has maintained an ambitious hiring pace. The New Braunfels office has had more than 30 employees since it opened.
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