Colab Platforms sets up new arm to boost presence in AI sector

Mumbai, Oct 13 (PTI) Diversified technology firm Colab Platforms on Monday said it will incorporate a wholly-owned subsidiary to strengthen its presence in an estimated USD 200 billion Artificial Intelligence sector.

Through the subsidiary, Colab Intelligence, the digital ventures company is strategically positioning itself to capture high-growth opportunities across multiple transformative industries, a company statement said.

The investment would fuel AI-driven innovation and scalable technology solutions, targeting high-growth sectors, including gaming, esports, financial services, and retail, the company said.

"By focusing on AI-driven industries, Colab Platforms aims to unlock new revenue streams and strengthen its position as a forward-looking leader in India's tech landscape," said Puneet Singh, Managing Director of Colab Platforms Ltd.

Diversified technology, e-sports and digital ventures company stated that the Artificial Intelligence sector was valued at approximately USD 200 billion globally in 2024 and projected to exceed USD 1.8 trillion by 2030, growing at a CAGR of over 30 per cent. PTI HG MR