The Hiranandani Group declares a significant ₹1,000 crore investment in the consumer technology domain

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THE HIRANANDANI GROUP DECLARES A SIGNIFICANT
?1,000 CRORE
INVESTMENT IN THE CONSUMER TECHNOLOGY DOMAIN
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The Hiranandani Group has ventured into the
technology-driven consumer services sector with
the introduction of its latest initiative, Tez
Platforms. In the initial phase, the company aims
to develop content-centric offerings for
e-sports, gaming, and social media, with a
targeted investment of around ?1,000 crore for
the current year. Tez Platforms is set to expand
its services into e-commerce, personal mobility,
artificial intelligence, and blockchain-related
solutions in the future. Darshan Hiranandani, CEO
of the Hiranandani Group, shared that this move
represents the natural evolution for the company,
emphasizing its commitment to innovation and
growth.
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Hiranandani mentioned ongoing projects involving
collaboration with teams from real estate and
Yotta Infrastructure for the new venture. The
company is actively seeking ecosystem partners
and talented individuals to join its
endeavors. While specific details about the
products in development remain undisclosed, Tez
Platforms is gearing up to make strategic hires
and announcements in the coming weeks. The
platform will operate as a distinct entity,
ensuring a dedicated focus without distraction
from the core real estate business.
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The company envisions Tez Platforms operating in
both the B2B and B2C domains, possibly
collaborating with mobile gaming companies to
create physical arenas. Hiranandani highlighted
the flexibility of the platform to adapt to
emerging trends, including the potential
incorporation of metaverse offerings. Tez
Platforms has outlined a roadmap to launch two
services in 2022 and an additional three in the
following year. The initial investment for
launching services in the current year is
estimated at ?1,000 crore, with plans to invest
approximately ?3,500 crore over the next 2-3
years. While the company is not actively seeking
third-party investors at the moment, it remains
open to partnerships and technology licensing
opportunities. Darshan Hiranandani emphasized
the importance of assessing the market response
before considering external investors,
demonstrating a cautious approach to the
product's market dynamics.
Grow Reporting
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