Mobile commerce platform, Paytm allocated an amount of $150-200 million to invest in startups over the next 18 months. Paytm has already invested in Jugnoo, Zovi and Gadgets 360° among others.
Mobile commerce platform, Paytm allocated an amount of $150-200 million to invest in startups over the next 18 months. Paytm has already invested in Jugnoo, Zovi and Gadgets 360° among others.
Kiran Vasireddy, Senior Vice President, Paytm told Business Standard that the company would invest in 10 to 15 companies, $10-15 million each. He further informed that the company is also open to making one large investment of around $100 million.
The company announced $10 million investment in the first round of institutional funding for logistics data start-up LogiNext, a week ago. Paytm will primarily look at companies in the tech start-up and logistics space to invest. It seeks to leverage the technology of the start-ups, which could add value for Paytm and its partners. In return, the start-ups would get access to Paytm's user base, traffic, technology and management capabilities, besides funding. Paytm does 2-2.5 million transaction in a day.
Throwing light on the mushrooming startups, Vasireddy said that during last few years, the start-up eco system, including infrastructure, enabling things and government support, is changing and lot of product companies have come, while traditionally the focus has been on service.
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