Cisco invests in Aavishkaar
Cisco has announced an investment in Aavishkaar, a venture fund founded to promote development in rural and semi-urban India. Cisco will invest in Aavishkaar India II Company Ltd. (Aavishkaar II) and will collaborate with other investors to drive sustainable business models with social impact that utilize the power of the network.
Vineet Rai, Founder & Managing Partner, Aavishkaar, said, "Participation by Cisco in Aavishkaar II clearly demonstrates the opportunity that rural India holds for creating value and impact. We are confident that Cisco's expertise as a technology giant and their interest in rural transformation in India as a strategy would benefit not only the fund but our investee companies as well. Aavishkaar's long track record of working with early stage entrepreneurs and keen understanding of rural India may allow Cisco to improve its intervention strategy in rural India."
Joydeep Bose, Managing Director, Corporate Development, Cisco Asia-Pacific and Japan, said, "As a company, Cisco strongly believes that technology and innovation can drive country transformation. Cisco's investment in Aavishkaar supports our goal to play an active role in opportunities that focus on driving rural transformation in the Indian economy. We believe that the focus areas as identified by Aavishkaar, especially education and health care, are very important and tie in with Cisco's priorities for India."
For More Details See
www.varindia.com
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