Telangana Industries Minister secures $50 million investment for data centers during US visit
Hyderabad, May 24 (KNN) The Telangana IT & industries minister KT Rama Rao during his visit to the US secured an investment of USD 50 million by Aurum Equity Partners (AEP) for developing data centers in Hyderabad.
Aurum Equity Partners, which invests in digital infrastructure real estate data centre assets, has allocated USD 50 million out of its just launched USD 250 million global private equity fund for investing in data centres and other infrastructure assets.
As per reports, AEP has also committed USD 5 million towards support deep tech startups in Telangana.
AEP founder & CEO Venkat Bussa said, “As technologies such as AI, IoT, Machine Learning, Big Data, Blockchain, and Cloud Computing are 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. AEP is positioned to capitalize on emerging opportunities and generate value for our investors, shareholders, and partners,” he said.
According to a communique put out by KTR’s office, enterprise level digital transformation services & solutions provider Grid Dynamics Holdings has communicated its intent to make additional investments in expanding its existing delivery centre in Hyderabad. This comes after a meeting of Grid Dynamics chairman Lloyd Carney, director Eric Benhamou and CTO Rajeev Sharma with Telangana industries & IT principal secretary Jayesh Ranjan. (KNN Bureau)