MoU signed for $5mn investment in WE Hub

Hyderabad: Phani Karra and Greg Walsh of Walsh Karra Holdings, a US-based investment firm, and Sita Pallacholla, Chief Executive Officer of WE Hub, India’s first state-led nodal organisation for women’s entrepreneurship, signed an MoU guaranteeing an investment of $5 million in WE Hub over the next five years.

The MoU was signed in New York, in the presence of Chief Minister A Revanth Reddy, Minister of IT E&C, I&C and LA, D Sridhar Babu during their official visit to the US to explore new partnerships and investments for the state.

“Women entrepreneurship will liberate our society and unleash the truest potential of Telangana. No society can achieve its fullest potential without enabling and empowering women,” the Chief Minister said.

Greg Walsh said, “With this initiative, over the next five years, WKH will also invest USD 100 million in start-ups incubating in Telangana ecosystem, both WE Hub incubated start-ups and beyond, thus being a reliable partner in growth story of both urban and rural Telangana”. Phani said, “I studied at Osmania University and started my career in Hyderabad which propelled me to succeed on the international stage. The gratitude I feel to India and Hyderabad made me look for ways to give back. With this partnership, we have found a reliable agency to ensure our investments and make a positive impact in India.”