#StartupsVsCovid19: Paytm Looks To Raise INR 10 Cr To Procure 30K Oxygen Concentrators, Will Match Donations

Digital payments giant Paytm’s not-for-profit entity Paytm Foundation is raising INR 10 Cr to donate oxygen concentrators across India amidst the worsening Covid-19 situation in the country. Paytm will match the contributions received through this initiative.

“India needs your help with oxygen shortage. We have sourced supplies of different sizes of oxygen concentrators. We want to double the count we order and bring here,” Paytm founder and CEO Vijay Shekhar Sharma said in a tweet. Sharma aims to  import 30,000 oxygen concentrators.

Several notable personalities have come forward to donate for the cause.

Among the various startups, Paytm has been on the forefront in terms of charitable efforts since the pandemic began last year, and it has launched several initiatives. It decided to invest INR 5 Cr to financially support innovators and companies that are working on solutions for the potential shortage of clinical ventilators and other medical equipment.

Paytm also partnered with 300 hotels in 60 cities to offer temporary accommodation for the medical practitioner on the frontline.Third, it pledged to download over INR 500 Cr in PM CARES fund. Fourth, it also donated INR 10 for every donation made through its platform last year.

Besides Paytm, several other companies have also been finding ways to help out India get past the worst healthcare crisis the country has ever seen. Earlier today, CRED CEO and founder Kunal Shah announced that CRED coins can now be donated to send oxygen for those in need. The company, in partnership with crowdfunding platform Milaap, aims to source 1 Bn litre of oxygen. Every 10,000 CRED Coins will go towards sending 1,000 litre of oxygen to hospitals.

Even Zomato’s not-for-profit initiative Zomato Feeding India has kickstarted the “Help Save My India” initiative in association with logistics startup Delhivery to source oxygen concentrators and related supplies to help hospitals and families in need. The company is looking to raise INR 50 Cr for this initiative. Other startups or companies can also join the initiative by writing to d@zomato.com or contact@feedingindia.org.

Meanwhile, startup and investor community Action Covid-19 Team (ACT) is looking to raise another INR 75 Cr through donations from people living in India and abroad. It has already raised INR 50 Cr through its network, and continues to look for donations to raise another INR 25 Cr. For donations larger than the above mentioned account, individuals or companies can email ACT at donations@actgrants.in.

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