Credsquare Technologies to set up R&D hub in Goa; eyes Rs 600 cr funding

Credsquare Technologies Private Limited, a Bengaluru-based artificial intelligence company, on Tuesday said it plans to set up a Research and Development hub in Goa.

The move marks the company's commitment towards advancing Make in India artificial intelligence (AI) technology and fostering innovation in the state under the Atmanirbhar Bharat initiative, the company said.

The centre will serve as a hub for AI research, development, and experimentation, focusing on creating groundbreaking AI solutions that cater to the unique needs of the region, it added.

Further, the company is looking to raise over Rs 600 crore, which will help fund the project, it said.

Gaurav Sharma, founder and chief executive officer, Credsquare Technologies, said, "We are excited to bring our R&D hub to Goa, a vibrant and progressive state."

"We are raising over Rs 600 crore and are in advanced stages of due diligence with numerous investors globally. The fundraising will help Credsquare Technologies expand its footprint in Goa and set up the R&D infrastructure under the Atmanirbhar Bharat initiative," he said.

The company said it aims to create opportunities for skill development and entrepreneurship, empowering Goans to participate in the AI revolution and contribute to the state's growth story.

"By setting up our facility here, we aim to tap into the local talent and contribute to the technological growth of the region," he said.

Credsquare Technologies, founded in November 2018, will focus on various domains such as tourism, health care, agriculture, and infrastructure, aligning with the key sectors of Goa's economy.

"With the newly developed Manohar International Airport, Goa has become a new gateway for technology companies as the state offers a perfect blend of business opportunities and a captivating lifestyle," Sharma said.