UK’s In­clu­sive Ven­tures in­vests ₹ 15 cr in ru­ral BPO firm

The Hindu Business Line - - NEWS -

In­clu­sive Ven­tures Ltd, a UKbased so­cio- eco­nomic plat­form that funds in­no­va­tive or­gan­i­sa­tions, has in­vested ₹ 15 crore ( about $ 2.5 mil­lion) in the Ben­galuru- based ru­ral BPO com­pany Ru­ralShores.

This is In­clu­sive Ven­tures’ first so­cial im­pact in­vest­ment in In­dia and fol­lows a case study at Ox­ford Univer­sity’s Said Busi­ness School, Mo­hamed Amersi, co- founder and Chair­man, In­clu­sive Ven­tures, was quoted in a press re­lease.

Ex­pan­sion plan

Ru­ralShores, which runs busi­ness process out­sourc­ing cen­tres in ru­ral ar­eas, has so far raised ₹ 40 crore in three rounds of fund­ing, ac­cord­ing to Mu­rali Vul­la­ganti, CEO and co- founder. It has 19 cen­tres in nine States em­ploy­ing 2,500 ru­ral youth, cater­ing to more than 30 clients in sec­tors such as IT, man­u­fac­tur­ing, bank­ing, in­sur­ance and gov­ern­ment de­part­ments. The com­pany ex­pects to add 10 cen­tres and em­ploy 3,000 more ru­ral youth in about two years.

The re­lease said, be­sides the in­vest­ment in Ru­ralShores, the big­gest value that In­clu­sive Ven­tures brings is the abil­ity to ex­port Ru­ralShores’ busi­ness model to other parts of the world, es­pe­cially Africa un­der its South- South and re­verse in­no­va­tion strate­gies in Africa.

The Ox­ford Ex­ec­u­tive MBA pro­gramme, with its fo­cus on entrepreneurship, has been the cat­a­lyst for this part­ner­ship be­tween Ru­ralShores and In­clu­sive Ven­tures, said Kathy Har­vey, Di­rec­tor of the pro­gramme. In­clu­sive Ven­tures was founded by Ox­ford Ex­ec­u­tive MBA stu­dents af­ter a visit to Ru­ralShores in 2014.

In­clu­sive Ven­tures sup­ports en­ter­prises that cre­ate scal­able and sub­stan­tial im­pact, de­liv­er­ing both so­cial and fi­nan­cial re­turns in Asia, Africa and Europe.

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