Tech-led platform: Hiranandani Group to foray into consumer technology segment

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Tech-led platform: Hiranandani Group to foray into consumer technology segment
Tech-led platform: Hiranandani Group to foray into consumer technology segment

Initial outlay of the tech-led platform to launch the services this year will be approximately INR 1,000 crore, and over the next 2-3 years, he expects the investment to be around INR 3,500 crore

To build capabilities around gaming and e-sports, entertainment and e-commerce, among other things, the real estate giant Hiranandani Group will invest INR 3,500 crore to foray into the consumer technology segment with a new Venture named ‘Tez Platforms’, a tech-led platform.

“We believe that the potential of digital has barely scratched the surface. We are widening our focus on technology-led, new-age services”, said Darshan Hiranandani, CEO of Hiranandani Group.

“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”, he added.

Including social media, gaming & e-sports, block-chain and artificial intelligence, among other emerging tech services, the new tech-led platform will introduce a wide gamut of services.

Mr Hiranandani added that the company plans to launch the first service within 2022, which is likely to be in the gaming space. “We have a roadmap to launch two highly sought-after services in 2022, followed by another three in the next year”.

He added that while Tez Platforms will leverage synergies and talent from various Hiranandani Group entities and also plans to hire over 250 employees in FY 2023.

Initial outlay of the tech-led platform to launch the services this year will be approximately INR 1,000 crore, and over the next 2-3 years, he expects the investment to be around INR 3,500 crore.

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