IDG Ventures India launches the ‘Software Innovators Program 2016’ that aims to identify and reach out to disruptive startups across the software products space. The program seeks to discover disruptive software product companies from India, with a potential to build a global foot print in the machine learning, artificial intelligence, SaaS, fintech and security areas amongst others. Paymatrix has been shortlisted for the final round, wherein they are to present the pitch to the senior team members.

IDGVI is a leading VC firm in India, that is often counted to be a prolific, early-stage backer of technology startups in India. With a portfolio of over 50 companies, including well-known brands like Myntra, Newgen, Lenskart, Manthan, Fintellix, NestAway, Unbxd and Uniphore, the firm is one of the key participant in the startup story of India. Idgvi has invested in 23 startups, and was the most active VC in the country in terms of the number of deals participated in 2015.