Colruyt Group India to Invest Rs 15 Crore in Pavestone Technology Fund
Colruyt Group India commits Rs 15 crore to Pavestone Technology Fund, boosting deep tech trends and India's tech ecosystem
By : DC Correspondent
Update: 2024-06-13 12:52 GMT
Hyderabad: Colruyt Group India, the IT engineering centre of the Belgium-based Colruyt Group, has committed to invest ₹ 15 crore in Pavestone Technology Fund, an alternative investment fund.
This is its second investment for Colruyt Group India, after pi Ventures in 2023. Colruyt’s Hyderabad facility has about 800 employees covering data analytics, IoT, and RPA, among many others.
"India’s tech ecosystem, thriving start-up culture, and skilled workforce is set to drive deep tech trends leading to technological advancement, eventually contributing to economic growth and societal development,” said Hari Subramanian, managing director of Colruyt Group India.
V. Laxmikanth, managing partner at Pavestone said the Colruyt Group India’s industry experience would enhance the firm’s ability to capitalise on promising investment opportunities. Till date, it has invested in E42, NewSpace Research and Technologies, LivNSense, and Bellatrix Aerospace, according to a release.
This is its second investment for Colruyt Group India, after pi Ventures in 2023. Colruyt’s Hyderabad facility has about 800 employees covering data analytics, IoT, and RPA, among many others.
"India’s tech ecosystem, thriving start-up culture, and skilled workforce is set to drive deep tech trends leading to technological advancement, eventually contributing to economic growth and societal development,” said Hari Subramanian, managing director of Colruyt Group India.
V. Laxmikanth, managing partner at Pavestone said the Colruyt Group India’s industry experience would enhance the firm’s ability to capitalise on promising investment opportunities. Till date, it has invested in E42, NewSpace Research and Technologies, LivNSense, and Bellatrix Aerospace, according to a release.