Hiranandani Group enters consumer tech with Rs 3,500 cr investment plan

Company will focus on large opportunities in the arena of social media, entertainment, gaming and e-sports, e-commerce, personal mobility, artificial intelligence and blockchain linked solutions

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Mumbai-based real estate major Hiranandani Group has announced its foray into technology-led consumer services with its new venture ‘Tez Platforms’, which is set to launch this year, at an initial outlay of about Rs 1,000 crore. And, over the next 2-3 years, it plans to invest about Rs 3,500 crore in the venture.

The company will focus on large opportunities in social media, entertainment, gaming and e-sports, e-commerce, personal mobility, artificial intelligence and blockchain-linked solutions.

“We have a road map to launch two highly sought-after services in 2022, followed by another three in the next year. Tez Platforms will leverage synergies and talent from various Hiranandani Group entities, but also has aggressive plans to hire over 250 employees in FY23,” said Darshan Hiranandani, chief executive officer of Hiranandani Group.

“Yotta Infrastructure will continue to be the vehicle for us to invest in areas of cloud computing, interconnectivity, enterprise applications and enterprise cyber security technologies, which are enhanced by our hyperscale and edge data center roll-outs.