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Connect India raised a funding of Rs 32 crore from Venture capital firm Aavishkaar

Venture capital firm Aavishkaar, has committed an investment of Rs.320 million in Connect India, the country’s largest impact investment firm announced on Friday.

With this funding, Connect India would launch its commercial operations in 17 States, 150 towns and cities with 1,500 Connect India centres in rural and urban markets, Aavishkaar said in a statement.

Aavishkaar is driven by the belief that an enterprise based development approach can enhance livelihoods and reduce vulnerabilities. Company’s 10-year goal is to invest in 300 start-up companies across emerging economies and raise US$1.0 billion.

Connect India has already carried successful trials of e-Commerce deliveries in regions of rural India that are yet un-serviced by online commerce initiatives. While Connect India will give distribution access to e-commerce Industry in rural India, it will also create convenience to the e-Commerce customers in urban India by being Hyper-Local.

Founded in 2001, Aavishkaar is now one of the world’s largest impact investment firms, and seeks to invest in businesses that focus on enhancing livelihoods, as well as catering to the country’s vast bottom-of-the-pyramid population.

The social venture capital firm, which manages assets of about $150 million (Rs 994 crore), invests across sectors, including in sectors, agriculture, dairy, education, energy, handicrafts, health, water and sanitation, technology for development, microfinance and financial inclusion.