Telangana attracts more investments from the US
Companies like Grid Dynamics Holdings and Aurum Equity Partners announced to invest in the State, while University of California collaborated with the State government
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Hyderabad: Continuing the success stories of Telangana IT& industries Minister KT Rama Rao’s US tour, the delegation from Industries and Commerce Department, Government of Telangana, conducted several discussions with leading investors from the US.
They have made announcements at an exclusive event hosted at the Gadar Memorial Hall in San Francisco by the Indian Consulate in collaboration with Aurum Equity Partners. The event also showcased ‘Why Telangana is the premier investment destination in India’.
Dr TV Nagendra Prasad, Consul General of India, SFO, Jayesh Ranjan, Secretary of Information Technology for the Government of Telangana, Dr Vishnu Reddy, Special Secretary (Investment Promotion and External Engagement) and Srinivas Rao Mahankali, CEO of T-Hub attended the event.
Aurum Equity Partners, a leading investor in fast-growing digital infrastructure real estate data center assets, has set up a $250-million global private equity fund plan of which it has allocated $50 million to Hyderabad, Telangana for the development of cutting-edge data centers.
At the same time, Aurum Venture Partners has committed $5 million to support deep tech startups in Telangana. In Q1 2023, Aurum Venture Partners closed a $50-million fund.
Venkat Bussa, Founder and CEO of Aurum, says, "As technologies such as AI, IoT, Machine Learning, Big Data, Blockchain, and Cloud Computing going mainstream, data center 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 capitalise on emerging opportunities and generate value for the investors, shareholders, and partners. It stands out as an investment firm with extensive expertise in cloud, telecommunications, security, ESG, and data center industries.
The team comprises seasoned investment professionals with deep knowledge in real estate, venture capital, growth equity, and leveraged buyouts within the cloud and data center infrastructure sector. The global fund will expand its investments in the US, MENA, and India.
TS govt, 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 an MoU with the Government of Telangana in San Francisco, California. The MoU will support the Telangana government’s vision of providing its people with cost effective and environmentally sustainable mobility options with an aim to drive economic growth.
The India ZEV Research Centre at the Institute of Transportation Studies, University of California, Davis signed a 2-year MoU with the Department of Industries, with an 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.
While India is the third-largest light-duty vehicle market globally, the State of Telangana contributes 7 per cent of India’s three-wheeler sales, 5 per cent of passenger vehicle sales, and 4 per cent of two-wheeler sales. The State’s progressive Electric Vehicle Policy which was released in 2020 has a target 500,000 EVs by 2030.
This partnership builds upon the existing collaboration between the State of Telangana and the State of California on alternative energy and innovation. Both states have also endorsed the global MoU on Zero-Emission Medium- and Heavy-Duty Vehicles, strengthening their commitment towards decarbonising hard-to-abate sectors.
The MoU will 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.
