Grassroots Business Fund backs two Aavsihkaar Portfolio Cos

Fri Aug 6, 2010 8:30pm IST

Related Topics

A statue of Ganesh, the deity of prosperity, is carried in a taxi to a place of worship on the first day of the ten-day-long Ganesh Chaturthi festival in Mumbai August 29, 2014. REUTERS/Danish Siddiqui

Ganesh Chaturthi Festival

During Ganesh Chaturthi idols will be taken through the streets in a procession accompanied by dancing and singing, and will be immersed in a river or the sea in accordance with Hindu faith.  Slideshow 

Grassroots is investing in Servals Automation and Shree Kamdhenu Electronics.

Grassroots Business Fund (GBF), a non-profit investor in high-impact enterprises, is backing two portfolio companies of Aavsihkaar as it looks to expands its portfolio in India. Grassroots is investing in energy self-sufficiency firm Servals Automation and Shree Kamdhenu Electronics Pvt Ltd, a company developing technology for the dairy industry.

GBF projects that the new funding will result in greater support towards the empowerment of the rural poor and the development of their livelihoods, it said in a statement.

Shree Kamdhenu Electronics is working to improve the technological gap and lack of transparency in India’s dairy industry-- the world's largest source of milk. Servals Automation, a social enterprise whose solution to poverty emphasizes energy conservation, green energy generation, and reduced carbon emissions in India.

Both of these companies have earlier raised funding Aavishkaar's micro-venture capital fund, which GBF is also partnering with. "Together with Aavishkaar, GBF will help build and strengthen micro equity investments to support the scalable small entrepreneurs," said

the statement.

“GBF funding will enable us to reach the untouched segments of the dairy sector that have remained isolated from the benefits of an IT revolution due to a lack of capital," said Shree Kamdhenu director Ujval Parghi.

GBF, which has investments across Africa and Latin America, has also backed another India firm called LabourNet, which helps customers meet the need for blue-collar workers.

-- Copyright 2010 VCCircle.com. All rights reserved.

This content/article is provided by Mosaic Media Ventures Private Limited and not by Reuters. All rights, including copyright, in this content/article provided by VCCircle.com are owned or controlled by Mosaic Media Ventures Private Limited. The content may not be copied, broadcast, downloaded and stored (in any medium), transmitted, adapted or changed in any way whatsoever without the prior written permission of Mosaic Media Ventures Private Limited.

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Coal Block Allocation

Coal Block Allocation

Government urges Supreme Court to not cancel some 'illegal' coal mines  Full Article 

Modi in Japan

Modi in Japan

Japan and India agree to boost strategic ties at summit  Full Article 

HSBC PMI

HSBC PMI

Factory activity expands at slower clip in August.  Full Article 

Current Account

Current Account

Balance of payments surplus for third straight quarter  Full Article 

India Infrastructure

India Infrastructure

RBI rule handicaps India's infrastructure hopes  Full Article 

Book Talk

Book Talk

Reema Abbasi and a glimpse of Pakistan’s Hindu past  Full Article 

China Economy

China Economy

Retreat in China's PMIs heightens calls for policy easing.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage