Google, now Alphabet Inc., is in talks with a number of local telecom operators in India to kick start its ambitious “Google Loon project”.
For the project – a balloon-powered program that aims to provide internet access to remote parts of the country – Google is currently in talks with local telcos such as BSNL as it looks to pilot the program in India.
Rajan Anandan, the managing director for Google South East Asia and India, said: “Google Capital is here (in India). Google Ventures is only a matter of time… India actually has 50 Series-A investors, we only have five Series-D investors. So, there is a gap in late-stage investing and we decided to close that gap.
“The reality is that there are enough people writing cheques. We want to improve the quality of the founders and the products.”
Instead of immediately setting up Ventures, Google wants to focus only on mentoring early-stage start-ups.Tagged: Investment, Internet, Google