Paytm, a digital payment form today revealed that it plans to invest INR 500 crore in the early-stage startups that build the complementary technologies augmenting the digital ecosystem.
The company will focus more on AI-based technology and big data solutions for the new innovations that can help to generate large scale employment.
“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 revealed that it also expects to employ the technology across the growing internet to become the dominant player in the AI.
“We are well aligned with our country’s 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.
“These investments are also an indication that Paytm believes India’s entrepreneur ecosystem is innovative and is growing well,” Paytm Deputy Chief Financial Officer Vikas Garg said.