Grid Dynamics, Aurum Equity Partners announce investment, expansion plans for Telangana

SAN FRANCISCO, California: Telangana, the youngest state of India, has attracted more investments during the San Francisco (California) leg of the ongoing visit of IT and Industries Minister K T Rama Rao to the United States on Monday.

In significant announcements, Digital transformation services provider Grid Dynamics revealed its plans to expand its existing delivery centre in Hyderabad. Aurum Equity Partners, a leading investor in fast-growing digital infrastructure real estate data center assets, has announced a USD50-million allocation to Hyderabad from its USD250 million global private equity fund, with the objective of developing cutting-edge data centres in Telangana.

Firming up another crucial deal, 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. All 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.

Grid Dynamics plans to expand delivery centre In Hyderabad

Grid Dynamics Holdings, a leader in enterprise-level digital transformation services and solutions, announced on Monday 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. The additional investment in Hyderabad operations was announced after a meeting in San Francisco, California, between Lloyd Carney, Chairman of the Board, Grid Dynamics; Eric Benhamou, Director of the Board, Grid Dynamics; Rajeev Sharma CTO and General Manager of Grid Dynamics India, Rahul Bindlish, Vice-President, Strategic Sales and Partnerships; and Jayesh Ranjan, Principal Secretary of Telangana IT Department.

Telangana is known for its progressive policies, skilled workforce and robust infrastructure. In particular, Telangana’s ability to support extensive manufacturing initiatives is strategically meaningful for global enterprises. The region has consistently attracted investments from national and international companies and Grid Dynamics has redoubled its commitment to growing its presence in this important geography. The 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.

Aurum Equity Partners allocates USD 50m to Telangana from global private equity fund

Aurum Equity Partners, a leading investor in fast-growing digital infrastructure real estate data centre assets, which has set up a USD250 million global private equity fund plan, has allocated USD 50 million from it to Hyderabad for the development of cutting-edge data centres. At the same time, Aurum Venture Partners has committed USD 5 million to support deep-tech startups in Telangana.

Venkat Bussa, Founder and CEO of Aurum, explained, "As technologies such as AI, IoT, Machine Learning, Big Data, Blockchain and Cloud Computing are going 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.”

The event hosted at the Gadar Memorial Hall in San Francisco also showcased why Telangana is the premier investment destination in India. Dr TV Nagendra Prasad, Consul General of India, San Francisco, Jayesh Ranjan, Secretary, Telangana Information Technology, Dr Vishnu Reddy, Special Secretary, Telangana Investment Promotion and External Engagement, and Srinivas Rao Mahankali, CEO of T-Hub, attended the event.

Aurum Equity Partners stands out as an investment firm with extensive expertise in cloud, telecommunications, security, ESG and data centre 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 centre infrastructure sector. The global fund will expand its investments in the United States, MENA and India.

Telangana, University of California, Davis, partner 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 Memorandum of Understanding (MoU) with the Telangana Government on Monday 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 two-year MoU with Telangana’s Department of Industries, with the aim to create a comprehensive ZEV plan. The initiative 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, Telangana contributes 7 percent of the country’s three-wheeler sales, 5 percent of passenger vehicle sales, and 4 percent of two-wheeler sales. The state’s progressive EV 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 decarbonizing 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.

Speaking about the partnership, Jayesh Ranjan, Principal Secretary, Telangana Industries and Commerce Department, stated, "California has been a global leader in ZEV policy. This MoU signifies a step forward in our journey towards sustainable mobility and achieving our vision of becoming a ZEV Champion State. By leveraging the expertise of ITS Davis, we aim to develop innovative solutions, strengthen policy frameworks and create a vibrant industry-research-government ecosystem for ZEVs in Telangana. We also launched the Telangana Mobility Valley in February 2023, as a unique new-mobility focused cluster, to create best in class infrastructure and provide end-to-end ecosystem support in the transition to sustainable transport."

Aditya Ramji, Director of the India ZEV Research Centre at ITS Davis, expressed enthusiasm for the collaboration, stating, “We are very excited with this partnership. The Government of Telangana 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. With Telangana being both an automotive manufacturing hub and a large market for vehicle demand, positive market signals through policy can not only improve EV adoption but also create a feedback loop for investments in the EV ecosystem within the state.”