KTR in the US: More companies announce investments, expansions in Telangana
In addition to this investment, Aurum Venture Partners has also committed $5 million to support deep tech startups in Telangana. In the first quarter of 2023, Aurum Venture Partners closed a $50 million fund.
Hyderabad: The Telangana delegation led by IT and Industries Minister KT Rama Rao to the United States is continuing a successful run in drawing more investments into the State, while quite a few companies who have already set up shop here have announced major expansion plans.
Aurum Equity Partners, a leading investor in fast-growing digital infrastructure real estate data center assets has set up a US$250 million global private equity fund plan, from which it has allocated $50 million to Hyderabad for development of cutting-edge data centres.
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In addition to this investment, Aurum Venture Partners has also committed $5 million to support deep tech startups in Telangana. In the first quarter of 2023, Aurum Venture Partners closed a $50 million fund.
These announcements were made at an exclusive event hosted at the Gadar Memorial Hall in San Francisco by the Indian Consulate in collaboration with Aurum on Monday.
“As technologies such as AI, IoT, Machine Learning, Big Data, Blockchain, and Cloud Computing go mainstream, data centre developers are reimagining their offerings with a focus on edge computing. This enables efficient and secure data processing closer to end users. Aurum Equity Partners is uniquely positioned to capitalize on emerging opportunities and generate value for our investors, shareholders, and partners,” Aurum Founder and CEO Venkat Bussa said.
Grid Dynamics Plans to Expand Hyderabad Delivery Centre
Grid Dynamics Holdings, a leader in enterprise-level digital transformation services and solutions, announced its plans to significantly expand its existing delivery centre in Hyderabad. The company will work to create new employment and internship opportunities across its diverse engineering capabilities, to materially grow its presence in India.
These plans for Hyderabad operations were announced after a meeting of the Grid Dynamics team led by Chairman of the Board Lloyd Carney Chairman and Telangana Principal Secretary (IT) Jayesh Ranjan.
Telangana has consistently attracted investment from national and international companies, and Grid Dynamics has redoubled its commitment to growing its presence in this important geography. This announcement also embodies the company’s commitment to its recently unveiled GigaCube growth framework, which identifies Geo Scalability and the expansion of its manufacturing solutions as foundational pillars of its long-term success, officials said.
TS,University of California to drive Zero Emission Vehicle Research
The India Zero Emission Vehicle (ZEV) Research Centre at the Institute of Transportation Studies, University of California, Davis signed a two-year MoU with the Telangana government on Monday in San Francisco. The MoU will support the Telangana government’s vision for providing its people with cost effective and environmentally sustainable mobility options with an aim to drive economic growth.
It will aim to create a comprehensive ZEV plan that will foster economic growth and development through clean road transport transitions in Telangana, making it the go-to destination for national and global vehicle manufacturers. Telangana contributes seven percent of India’s three-wheeler sales, five percent of passenger vehicle sales, and four percent of two-wheeler sales. The state’s progressive EV Policy which was released in 2020 has a target 500,000 EVs by 2030, officials said.
The MoU will also facilitate collaborative activities, including policy research and design to accelerate clean transport transitions in Telangana, knowledge-sharing platform for policymakers and industry, showcasing Telangana’s best practices in ZEV adoption to the international community, and building institutional capacities to support ZEV transitions.
“We are very excited with this partnership. The Telangana government is the first State to come onboard of the larger sub-national cooperation that the India ZEV Centre aims to establish by partnering with Indian States,” Aditya Ramji, Director of the India ZEV Research Centre at ITS Davis said.
