Reinforcing its commitment to country transformation and inclusive growth, Cisco today 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. Working with Aavishkaar, Cisco aims to take advantage of its expertise and promote technology-enabled inclusive growth in the area of social entrepreneurship.
Cisco is committed to India and sees making investments in the country as an important way to learn about the local market, align technology innovation, and help spread the benefits of technology to a wider group of people. Over the past few years Cisco has committed up to $200 million of venture capital investments to the country, of which almost half has been utilized.
Cisco has a history of creating growth through direct investments and investment partnerships. Its direct investments in the region cover a broad spectrum of technology-related investments which are complementary to the growing scale and reach of the investments Aavishkaar will make in rural transformation.
Edzard Overbeek, president, Cisco Asia Pacific, Japan and Greater China, said: “Cisco is committed to contributing to the communities where we do business and it’s no different in India where we’ve located our Globalisation Centre East and employ thousands of employees who contribute greatly to our engineering operations. Investing in community-oriented initiatives such as Aavishkaar enables to positively impact economic and social development in the country.”