March 03, 2021
Digital payments firm Paytm on Monday
Digital payments firm Paytm on Monday said it plans to invest Rs 500
crore in early stage startups that build complementary technologies augmenting
the digital ecosystem.The company said it expects to employ technology across
the growing internet to become the dominant player in AI."The company has set
aside Rs 500 crore to invest in early-stage companies that build complementary
technologies augmenting the digital ecosystem," Paytm said in a statement.The
company typically invests Rs 200-250 crore every year in intellectual properties
or companies building complementary technologies such as Insider, Nearbuy,
Loginext, China
Displays & Light-box Materials manufacturers Ticket New, Hungerbox,
Nightstay, QRQL, and RecruiterGrid, the statement said. "These investments are
also an indication that Paytm believes Indias entrepreneur ecosystem is
innovative and is growing well," Paytm Deputy Chief Financial Officer Vikas Garg
said."We are well aligned with our countrys mission to ensure the benefits of
the digital revolution reach the last mile. We partner with startups who have
capabilities that augment the digital ecosystem for the next wave of growth..The
company will focus on artificial intelligence-based technology and big data
solutions for new innovations that can generate large scale employment
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