“Paytm’s Vijay Shekhar Sharma Launches Rs 30 Crore Fund for Indian AI and EV Startups”

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Paytm founder and CEO Vijay Shekhar Sharma has announced the launch of the ‘VSS Investments Fund,’ a Category II Alternate Investment Fund (AIF) with an initial fund size of Rs 20 crore, including a green shoe option of Rs 10 crore. This new fund is aimed at investing in Indian startups specializing in Artificial Intelligence and Electric Vehicles (EV) technology, specifically those dedicated to serving Indian consumers and businesses.

Vijay Shekhar Sharma expressed his confidence in India’s startup ecosystem, noting that it houses some of the world’s brightest entrepreneurs. He believes that India has the potential to become a hub of advanced technology and AI-driven innovations, contributing to the nation’s aspirations of becoming a $10 trillion Atmanirbhar (self-reliant) economy.

Sharma’s track record includes supporting various startups, such as Ola Electric, Josh Talks, Mesa School, UNNATI, KAWA Space, Praan, GOQii, KWH Bikes, Daalchini, and Treebo Hotels. The ‘VSS Investments Fund’ will enable further investments in these areas, solidifying Sharma’s commitment to fostering innovation in both the consumer and B2B tech sectors.

While Vijay Shekhar Sharma will be a primary contributor to the fund, it will also receive investments from external investors. The AIF has been sponsored by VSS Investco Private Limited, an entity owned and controlled by the Paytm founder.

This fund’s launch reflects the ongoing enthusiasm for supporting technology-driven innovation in India and signifies Paytm’s continued dedication to empowering startups in the country’s vibrant ecosystem.

Sources By Agencies