“Bajaj Finserv companies will invest Rs 1,500-2,000 crore over a five-year period in startups and early-stage companies with strong scalability potential across AI, cybersecurity, quantum technologies, fintech and consumer technology platforms,” the statement said.
Mumbai:Bajaj Finserv on Thursday said it will be investing up to Rs 2,000 crore in artificial intelligence and technology-led startups in the next five years.
The Pune-headquartered company made the announcement with the launch of ‘Finserv Intelligence’, a strategic initiative in applied research and innovation, focussed on high-tech, low unit-cost, highly scalable solutions, built in India, as per an official statement.
“Bajaj Finserv companies will invest Rs 1,500-2,000 crore over a five-year period in startups and early-stage companies with strong scalability potential across AI, cybersecurity, quantum technologies, fintech and consumer technology platforms,” the statement said.
It has also tied-up with IIT-Bombay to establish a joint research centre and define a joint statement of work spanning AI, cyber security, quantum technologies and the reimagining of physical retail experience.
Finserv Intelligence (FI) has been designed as a holistic innovation ecosystem with a five-to-ten-year horizon for realisable impact through academic collaborations, investments in the start-up ecosystem and in-house specialists, the statement added.