Hyderabad, India – Veltris, a digital product engineering services provider, and GrowGCC, an India-focused global capability centre (GCC) advisory firm, have signed a memorandum of understanding to help mid-market companies and private equity-backed businesses establish AI-enabled operations in India.
The collaboration will combine GrowGCC’s advisory and centre setup expertise with Veltris’ capabilities in industry-specific artificial intelligence (AI), technology development and intellectual property (IP) creation.
GrowGCC will support feasibility assessments, financial modelling, legal entity setup, talent strategy and governance design. Veltris will focus on developing industry-specific AI solutions, modernising data and AI infrastructure, incubating IP and applying AI to engineering processes.
The companies said engagements could follow advisory-led setup, managed AI operations or a build-operate-transfer model, under which a provider establishes and operates a centre before transferring it to the client.
The offering is aimed at private equity sponsors and mid-market businesses seeking to build their own engineering and operational capabilities while retaining ownership of the resulting technology and IP.
Veltris Chief Executive Hiral Chandrana said the collaboration would focus on developing centres tailored to specific industries rather than simply expanding offshore capacity.
“PE-backed companies don’t need more offshore capacity; they need assets built around their industry. Together with GrowGCC, we help PE portfolio and mid-market companies launch India centres that are AI-native from day one and grounded in micro-industry expertise, so they can reimagine workflows and monetise the outcomes,” said Hiral Chandrana, CEO of Veltris.
“For a PE-backed company, the question is rarely whether India makes sense. It is whether the centre will be an asset the company owns at exit,” said Shaishav Shah, Founder of GrowGCC.
“A successful GCC takes the right strategy, operating model, governance and execution, not just infrastructure and talent. With Veltris, we bring those foundations together with Vertical AI, so companies build centres that drive innovation and that they own,” Shah continued.
For private equity-backed businesses, the companies said owned capability centres could support operational efficiency, research and development productivity and potential margin improvements during an investment period. Their capabilities could also be extended across other portfolio companies, while clear IP ownership could help demonstrate value during exit assessments.
