Business NewsCOVID-19Startup

Paytm to raise INR 10 crores to procure 30K Oxygen Concentrators, to ease the need!

India is facing a groundbreaking oxygen crisis, that is on top of its hike as compared to the first wave of covid-19. More and more powerful business tycoons, authorities, and even startups are pledging to support the nation, and our people in tough times. 

After Google, Tata, Microsft, and more, here’s a young startup venture Paytm hoping to import 30k oxygen concentrators, to ease the need in hospitals and covid centers. 

The CEO Vijay Shekhar said while speaking about the firm’s plans to import oxygen- “India is facing an unprecedented oxygen crisis at the moment and needs all the support to tide over”. He further added- “The country needs oxygen support; large oxygen tankers, oxygen cylinders and something that can produce oxygen locally, which is oxygen concentrators”. 

Among hundreds of startups, Paytm has been at the forefront in terms of aiding efforts since the pandemic began. It has been working constantly and came forward with several initiatives. For instance, it invested INR 5 crores to financially support innovators or ventures, which are working towards improvising healthcare services such as ventilators, and others. 

It has also collaborated with 300 hotels in around 60 cities across India to offer temporary accommodation for the medical practitioners and let them feel safe, and near to home. It’s not the end, it contributed INR 500 crores to the PM Care fund. And in 2020, it donated INR 10 for every transaction made via Paytm. And even let people donate through Paytm. 

On Sunday, the company launched a donation drive to import oxygen and more. It has already sourced supplies of different sizes and is looking to donate them to healthcare units. 

He further said- “By the time we realized that oxygen supply was scarce in India, we realized that oxygen concentrators can quickly and sustainably solve the problem at the level of hospitals, home care. This generated the hunt for the oxygen concentrators”. 

Besides Paytm, several other companies belonging to different sectors like Vistara, one of the airlines recently announced to offer free travel to doctors and nurses anywhere across the nation. Earlier today, CRED CEO and founder Kunal Shah declared that CRED coins can now be donated to send oxygen to the needy.

Moreover, the famous food delivery app Zomato has initiated “Help Save My India” with logistics startup Delhivery to source oxygen concentrators and medical supplies. It is also looking forward to raising 50 Crores for the execution.  

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