In June, Microsoft announced that it was bringing all of its investment businesses like BizSpark, the Bing Fund and its accelerator programs under one division, Microsoft Ventures. Today, the company announced that it has made its first investment since its restructuring, giving some seed funding to a Tel Aviv, Israel-based company called SkyGiraffe.
In a blog post, Microsoft stated SkyGiraffe was formed in 2012 and has already received financial and other help via the BizSpark program and the Israel version of Microsoft Ventures Accelerator. The amount of new seed funding it received from Microsoft Ventures, and the percent of the company that Microsoft now owns, was not disclosed.
As for what this company is all about, Microsoft Ventures head Raul Sood stated, "SkyGiraffe provides a SaaS platform that helps businesses deploy enterprise-grade mobile applications on any device immediately and without the need for writing code."
Previously, Microsoft offered seed funding through its Bing Fund to a number of other start-ups, including companies that launched mobile apps like Buzz Table for iOS and Android, but not for Windows products. Not all of the Bing Fund investment companies have been successful. In February, it offered money to a mobile app company called Sonar, but it shut down operations in September, according to TechCrunch.
Source: Microsoft | Image via SkyGiraffe