Grassroots Business Fund backs two Aavsihkaar Portfolio Cos

Fri Aug 6, 2010 8:30pm IST

Related Topics

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:

Economic Pulse

REUTERS SHOWCASE

Nifty Above 8,600

Nifty Above 8,600

Nifty hits record high above 8,600; state-run lenders gain  Full Article 

Indian in Iraq

Indian in Iraq

India says no contact with 39 men held by Islamic State in Iraq.  Full Article 

Sahara Issue

Sahara Issue

Sahara looks to raise $650 million loan to fund bail.  Full Article 

Bhopal Tragedy

Bhopal Tragedy

Bhopal's toxic legacy lives on, 30 years after industrial disaster.  Full Article 

Essar Group

Essar Group

Exclusive - Essar's planned oil-for-steel deal tests Iran sanctions  Full Article 

Islamic Fund

Islamic Fund

India gets new Islamic equity fund but debt market still off-limits  Full Article 

Fiscal Deficit

Fiscal Deficit

April-October fiscal deficit nears 90 pct of full-year target  Full Article 

Oil Prices

Oil Prices

Oil hits new four-year low post OPEC as glut looms  Full Article 

Gold Imports

Gold Imports

India eases gold import rule in surprise move.  Full Article 

Reuters India Mobile

Reuters India Mobile

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