Credsquare Technologies Plans INR 600 Crore Funding and Setup R&D Hub in Goa

Credsquare Technologies Private Limited, a Bengaluru-based leading artificial intelligence (AI) company, announced plans to set up a state-of-the-art Research and Development (R&D) hub in Goa. The move signifies the company’s commitment to advancing Make in India AI technology and fostering innovation in the tourist State under the Atmanirbhar Bharat initiative.

Recognising Goa’s potential as a thriving technology hub, Credsquare Technologies Private Limited has chosen to establish its R&D hub in the coastal state. The hub will serve as a hub for AI research, development, and experimentation, focusing on creating groundbreaking AI solutions that cater to the unique needs of the region. The company aims to create opportunities for skill development and entrepreneurship, empowering Goans to actively participate in the AI revolution and contribute to Goa’s growth story.

Gaurav Sharma, Founder & Chief Executive Officer, Credsquare Technologies Private Limited, expressed his enthusiasm for the establishment of the R&D hub, stating, “We are excited to bring our R&D hub to Goa, a vibrant and progressive state. By setting up our facility here, we aim to tap into the local talent and contribute to the technological growth of the region. We are dedicated to pushing the boundaries of home-grown AI innovation and developing solutions that have a positive impact on industries and society, at large.”

Founded in November 2018, Credsquare Technologies Private Limited will focus on various domains such as tourism, healthcare, agriculture, and infrastructure, aligning with the key sectors of Goa’s economy. Credsquare Technologies plans to collaborate with local stakeholders and government agencies to identify specific challenges and develop AI-powered solutions that drive growth and efficiency in these sectors. “With the newly developed Manohar International Airport, Goa has become a new gateway of the West for the technology companies as the State offers a perfect blend of business opportunities and a captivating lifestyle,” Gaurav said.

With the establishment of its R&D hub in Goa, Credsquare Technologies Private Limited aims to become a catalyst for AI innovation in the region. The company’s focus on addressing sector-specific challenges and nurturing local talent is expected to contribute to the advancement of technology and foster economic development in Goa. “We are potentially raising over INR 600 crore funding and we are in advanced stages of due diligence with numerous investors globally. The fundraising will help Credsquare Technologies Private Limited to expand its footprint in Goa and setup the R&D infrastructure under the Atmanirbhar Bharat,” he added.

Credsquare Technologies Private Limited has launched its SaaS-based customer engagement platform, FRAGO, which is a tech product for business growth in the B2C segment. FRAGO integrates seamlessly with a business ecosystem without making any changes to their existing business flow, which helps businesses create differentiated value for their products and services. “FRAGO centrally maps consumer, consumption and business functions that will tell you everything your business needs to know about your customers/clients to give your business an edge over your competitors,” Gaurav asserted.

The company’s R&D hub will house a team of highly skilled AI researchers, data scientists, and engineers who will collaborate on cutting-edge projects. Credsquare Technologies aims to leverage the local talent pool in Goa, fostering a culture of innovation and encouraging the exchange of ideas.

It will play a pivotal role in nurturing local talent and fostering innovation. Credsquare Technologies Private Limited aims to engage with educational institutions, providing internships, training programs, and research opportunities to students interested in AI. By empowering the next generation of AI experts, the company aims to contribute to the development of a skilled workforce in Goa and create long-term opportunities for the local community.