India Weekly Tech News Round Up

05:06 | Kamla Bhatt | Dec 13th, 2006 10:56am |

Another round of big investment was announced this week, but this time it was not an IT company. REVA, India’s first electric car received $20 million in investment. Draper Fisher Jurveston and Global Environment Fund led this round of funding.

CISCO’s CEO John Chambers took a two-day whistle stop tour of India. The visit included a few important announcements that significantly expand Cisco’s presence in India.

There have been quite a few development in the Telecom Sector. IDEA Cellular plans to go IPO, UK-based Vodofone is planning to increase its stake in Bharti Airtel and the assets of Hutchinson Telecommunications may be acquired by private equity firms. (The Hutchinson Telecom acquisiction has not been confirmed.)

Varun Kapur has joined Texax Pacific Group’s India operations. The Business Standard reports that private equity investment is expected to double from its existing $4-billion-dollar level next year.

Social networking companies are fast proliferating in India. The latest to launch in India is Jhoom.com — it’s focussed on Indian entertainment.

And slightly outside of the tech-related world, Vogue will be rolling out an India edition of the magazine in early 2007.

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Tags: REVA, Draper Fisher Jurveston, CISCO, IDEA Cellular, Varun Kapur, Texax Pacific Group, Jhoom.com, Vogue

This entry was posted on Wednesday, December 13th, 2006 at 10:56 am and is filed under PodTech, Enterprise 2.0, India, Technology. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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