Bajaj Finserv has launched Finserv Intelligence to support India’s research and innovation in AI and deep technology, in partnership with IIT Bombay. The initiative will focus on applied research and innovation in areas such as AI, cybersecurity, quantum technologies, and retail experiences.
Finserv Intelligence is a strategic initiative to invest in and develop next-generation technologies. Sanjiv Bajaj, chairman and managing director of Bajaj Finserv, said that the next decade of value creation in financial services will belong to those who develop the technology that drives it. Quoting the NITI Aayog report, Bajaj said India’s research and development (R&D) investment is significantly lower than that of comparable economies, and there is a need for increased private capital involvement. Bajaj Finserv was addressing this gap through Finserv Intelligence. Bajaj Finserv companies plan to invest ₹1,500-2,000 crore over five years in AI innovation startups, managed by a dedicated investment team.
Beyond Capital
This program will prioritise early-stage companies, from seed funding to Series B rounds, that demonstrate strong scalability potential in AI, cybersecurity, quantum technologies, fintech, and consumer technology platforms. It aims to support high-tech, low-unit-cost, highly scalable solutions that are developed in India for both the domestic and global markets. Finserv Intelligence serves as a private-sector response to existing gaps, linking research and application while anchoring patient capital in India’s deep-tech ambitions. The initiative aims to create a deployment platform on a national scale.
Rajeev Jain, vice chairman and managing director of Bajaj Finance, explained that Finserv Intelligence offers founders more than just financial capital. “Startups will connect directly with Bajaj Finserv’s enterprise ecosystem, benefiting from our governance frameworks, financial discipline, operational depth, and market insights, alongside flexible investment sizes and committed follow-on funding,” Jain stated. “Our goal is to be a strategic co-architect for deep-tech founders, aiding them in transforming promising ideas into market-ready, resilient institutions,” he said.
Commercializing R&D
Finserv Intelligence has signed a Memorandum of Understanding (MoU) and a Master Collaboration Agreement with IIT Bombay to establish a joint research centre and outline joint projects focusing on AI, cybersecurity, quantum technologies, and the reimagining of physical retail experiences.
This initiative is designed to create a holistic innovation ecosystem, with a five to ten-year horizon for tangible impact. It will bring together academic collaborations, investments in the startup ecosystem, and in-house specialists. Drawing from leading global and domestic innovation models, the initiative will establish R&D labs, centres of excellence, venture-led models, and a Scholars-in-Residence programme.
In addition to financial services, Finserv Intelligence plans to expand into areas such as digital financial inclusion, preventive healthcare, health technology, and climate solutions. The first year’s focus will be on laying the foundational building blocks. It will, in subsequent years, broaden its research scope, increase investment in startups, and co-create new ventures with the long-term goal of becoming a significant player in applied research.