Pramod Saxena, founder and CMD of Oxigen Services India Pvt. Ltd, which operates mobile payment platform Oxigen Wallet, has launched a startup accelerator Aarambh Ventures in partnership with Indian Institute of Technology (IIT) Roorkee, it said in a statement.
The accelerator, which will open in late 2016, will operate out of IIT Roorkee’s campus.
It will focus on startups in technology, mobile, health, agriculture, clean tech, Internet of Things (IOT), artificial intelligence, Big Data and fin-tech segments.
“The leadership team at Oxigen will fuel the growth of fin-tech startups through Aarambh Ventures. This effort, while encouraging entrepreneurs, will strengthen innovation at Oxigen Wallet and deepen its relationship with startups,” said Saxena, who is an IIT Roorkee alumnus.
The accelerator is supported by venture capital firms Omnivore Partners, Unitus Seed Fund and IvyCap Ventures, among others.
Besides founding Oxigen, Saxena is also an investor and mentor for early stage funds including Unitus Seed Fund and IvyCap Ventures.
Previously, Saxena has been associated with Essar Group, Motorola and DCM Group. At Essar, he oversaw the group’s strategic business initiatives in telecom and BPO, including its $1.1 billion acquisition of BPL Mobile’s operations. At Motorola, he served as president for India between 1998 and 2004.
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