Paytm aims to raise Rs 10 crore for oxygen concentrators

Digital payments and e-commerce business Paytm aims to raise Rs 10 crore ($10 million) to purchase 3,000 oxygen concentrators as India faces an acute shortage in the second wave of Covid-19.

Paytm is matching donations from its users to purchase oxygen concentrators

Paytm has already ordered more than 1,000 oxygen concentrators valued at Rs 4 crore through the Paytm Foundation’s emergency relief funds, the business said in a statement, TNN reported. The oxygen concentrators will be sent to government hospitals, private hospitals, Covid-19 care centres, and NGOs among other relevant organisations.
As India battles its highest daily case rates to date, oxygen shortages are leading to a higher death toll, especially in metropolitan areas. Paytm has asked its digital payments users to donate to the cause and will match all donations, the business announced. 

“India is going through an unprecedented oxygen crisis right now and there are all kinds of oxygen support needed, large oxygen tankers, oxygen cylinders and then something that can produce oxygen locally which is oxygen concentrators,” said Paytm’s CEO and founder Vijay Shekhar Sharma. 
“I also call upon other startups, businesses to join us and match rupee to rupee contribution to double the supply of oxygen concentrators,” said Sharma. “It will be a great support for India in the present oxygen crisis. I am sure by pooling in our resources we will be able to fight this crisis and come out stronger.”

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