Walsh Karra to invest in Telangana’s WE Hub
Phani Karra and Greg Walsh of WKH and Sita Pallacholla, CEO of WE Hub signed the MoU at New York announcing that WKH over the next five years would also invest US $100 million in start-ups incubating in Telangana ecosystem
Hyderabad: Walsh Karra Holdings (WKH), a US-based investment firm, has signed a memorandum of understanding with Telangana’s WE-Hub for an investment of US $5 million over the next five years. Chief Minister A Revanth Reddy‘s US tour also succeeded in getting Cognizant, a global leader in IT services and consulting, to announce significant expansion plans in Hyderabad by creating a new facility with over 10 lakh square feet space, with the move to create over 15,000 new jobs in the city.
As for the WKH investment, Phani Karra and Greg Walsh of WKH and Sita Pallacholla, CEO of WE Hub signed the MoU at New York, in the presence of Revanth Reddy and IT Minister D Sridhar Babu, announcing that WKH over the next five years would also invest US $100 million in start-ups incubating in Telangana ecosystem, both WE Hub incubated start-ups and beyond.
“I studied at Osmania University and started my career at Hyderabad which propelled me to succeed at international stage. The gratitude I feel to India and Hyderabad made me look for ways to give back. With this partnership, we have found a reliable agency to ensure our investments make a positive impact in India,” Phani Karra said.
The new centre in Hyderabad will focus on various advanced technologies, including artificial intelligence, machine learning, digital engineering, and cloud solutions. The company has also agreed to the Chief Minister’s suggestion to consider tier 2-towns in Telangana for additional capacity.
As for the Cognizant move, the announcement comes on the heels of a successful meeting between the Chief Minister, Sridhar Babu,and a high-level delegation with Ravi Kumar S, CEO of Cognizant. The discussions highlighted the strategic importance of Hyderabad as a growing hub for technology and innovation in India.
“We are excited to expand our presence in Hyderabad, a city that continues to demonstrate its strengths as a technology and innovation hub,” Ravi Kumar said.
The new centre will enable Cognizant to better serve global clients and continue to deliver cutting-edge solutions in IT services and consulting. The company, which has chosen Hyderabad as the site for a new centre, will build for a capacity to accommodate 20,000 employees.
Sridhar Babu said Hyderabad’s vibrant tech ecosystem continued to attract leading global companies.
“Cognizant’s decision to establish a new centre here strengthens our position as a leading IT hub,” he said.
Earlier, addressing the NRIs at New Jersey on Sunday, the Chief Minister said Mahindra Group Chairman Anand Mahindra had responded positively to his request to be the chairman for the Telangana Skill University.
