On Thursday the handset maker Micromax said that it will invest up to USD 400 million this year to pick up stake in at least 20 start-ups in various segments like healthcare, entertainment and gaming as a part of strengthening its services portfolio.

The co-founder of Micromax, Rahul Sharma said, “Going ahead, we will invest in not less than 20 start-ups, where we see synergies. We are looking at  building an ecosystem of connected devices and offer customised experience to users.”

These investment will be ranging from USD 0.5-20 million, depending on the size and maturity of the target company, he added.

“The world is moving to smart devices and through these strategic investments, we want to ensure that consumers get insights into eating better, getting fitter and fighting lifestyle issues effectively,” he said.