Hiranandani Group to invest Rs 3,500 cr in in-house venture, Tez Platforms

The Hiranandani Group is now ready to focus on broader technology-led consumer services with its new venture - Tez Platforms, it said in a press statement. Tez Platforms 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, it said

Darshan Hiranandani, CEO-Hiranandani Group, said, “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 datacenter roll-outs. Separately, through Tez Platforms we intend to incubate and work with leading technologies and partners (both domestic and global) in other areas as well, in the next steps of our journey.”

Hiranandani said, “We have a roadmap 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 FY 2022. Tez’s initial outlay to launch the services this year will be approximately Rs 1000 crore. And over the next 2-3 years, we expect to invest approximately Rs 3,500 crore”.

The group will also be working through its non-profits in arenas of skilling and training in the field of cloud solutions, cyber-security, and artificial intelligence.