Telstra Ventures makes a strategic investment in Beijing-based Cloopen, driven by the strong growth in the APIs(aaplication programming interface) and OTT(over the top) application sector in China. Cloopen is a leading provider of communications APIs that enables developers to easily integrate messaging functions, video and voice calls in their applications.
Using the platform as a service provider (PaaS) model, Cloopen APIs integration fuels applications that provide services such as car-hailing or meal delivery, which are booming in China. The integration enables functions such as application-to-people voice and messaging, two factor verification, and video conferencing. It facilitates application developers who work with multiple telecom operators to equip their applications with these communications capabilities.
The investment increases Telstra’s exposure to the rapidly growing OTT market in China and gives Cloopen access to Telstra’s large customer base in the Asia-Pacific. It also creates opportunities for collaboration with the Telstra Software Group.