Real estate company Ajmera Group to invest $10 mn in tech startups in next 3 years

Mumbai: Real estate developer Ajmera Group will invest up to $10 million dollars in tech startups in the next 2 to 3 years as part of its 50th year expansion plan. The investment will be across various verticals such as technology, e-commerce, customer internet, solar and fintech.

Commenting on the development, Dhaval Ajmera, director, said, "As a company we have always believed that diversification is a big part of growth, so as part of our 50th year expansion plan we are looking forward to invest into start-ups and help them bring their ideas to life as they have the power to change the face of this country".

 Real estate company Ajmera Group to invest  mn in tech startups in next 3 years

Startups. Representational image. PTI

The developer has picked up stake in three startups so far. Startup, an initiative  started in 2014 by Aadya Webservices Private Limited provides a marketplace for customers and service providers (vendors) enabling them to connect with each other and conduct business by scheduling online appointments.

Ajmera has already collaborated with The Sports Gurukul which is into physical education, professional sports and fitness development and training organization that are looking to create awareness for sports and fitness.

The startup operates in over 25 cities and over 150 schools across the country. Ajmera ‘i-safe’ is another initiative that offers locker service in Mumbai.

Most of the innovative and revolutionary business ideas have come from startup companies in the last decade, he said. The IT boom in Bangalore changed the way of business models that started coming up all over the country.

Backed by private investors and large-scale companies, startups rely heavily on the funding they receive to take their plans ahead.

The Ajmera Group is willing to provide the support to aspiring companies in terms of technological advancements, marketing or any other aspect, Ajmera said.

Founded in 1968, the Ajmera group has diversified to other sectors such as steel, cement, power, education, sports and social welfare. The company now has a strong presence in and around Mumbai, Pune, Ahmedabad, Surat, Rajkot and Bangalore as well as an international project in Bahrain and UK.

Updated Date: Oct 25, 2018 16:00:33 IST