Paytm to airlift 21,000 Oxygen Concentrators under its #OxygenForIndia initiative, aims to facilitate OCs procurement and distribution for other institutions

Ø  Receives Rs. 5 crore in contribution and matches it to take the total contribution to Rs. 10 crore

Ø  Increases its target for the initiative, to raise Rs 14 crores for sourcing over 3,000 OCs internationally

Ø  Aims to become the destination for other organizations & enterprises to procure OCs

Mumbai, 28^th April 2021: India's leading digital financial services platform Paytm today announced that under the #OxygenForIndia initiative, it is set to airlift 21,000 Oxygen Concentrators (OCs) which is expected to reach India in the first week of May. These devices would be immediately sent to government hospitals, COVID care facilities, private hospitals, nursing homes as well as Resident Welfare Associations. The company has already raised Rs 5 crore from citizens for the initiative and has matched rupee for rupee making it Rs. 10 Crore. Encouraged by the overwhelming support and contribution from people across the country, it is now aiming to raise over Rs 14 crore to source over 3,000 OCs over the next few days.

With aim of saving a maximum number of lives, the Paytm Foundation is also supporting other start-ups, organisations and enterprises to source OCs from the international market. This will help to minimize the timeline for logistical requirements while ensuring that hospitals & other COVID care centres receive the much needed OCs sooner. The entire sourcing, regulatory approvals, and delivery will be managed by the foundation, while the other organizations only need to pay for the cost of the OCs that they will order.

Paytm spokesperson said, "We would like to thank each and every citizen who acted selflessly and contributed to the noble cause of solving India's oxygen crisis. We look forward to winning this battle in collaboration with various organisations and foundations to jointly source as many OCs to provide immediate aid to our country."

He further said, "Paytm Foundation has already placed an order for importing 21,000 OCs to provide immediate relief. Our founder Vijay Shekhar Sharma is leading a dedicated team with medical expertise to push forward and streamline companywide Covid relief measures."