SUMMARY
The selected startups will participate in the accelerator programme over the next three months and will receive comprehensive support from both Panasonic and 100X.VC
The programme was launched in October with the objective of backing the young entrepreneurs and their startups offering innovative technologies
In addition to financial resources, the startups will also receive support in the form of mentorship sessions and guidance to complete their project
Panasonic Life Solutions India (PLSIND) and Panasonic Corporation (PC) in collaboration with micro VC fund 100X.VC have selected 12 startups as part of accelerator programme Panasonic Ignition.
The accelerator programme was launched in October to support young entrepreneurs and provide them with investment, masterclasses, expert mentorship, product strategy and growth plans.
The selected startups will participate in the accelerator programme over the next three months and will receive comprehensive support from both Panasonic and the 100X.VC teams.
In addition to financial resources, the startups will also receive support in the form of mentorship sessions and guidance to complete their project, said a statement on Wednesday.
Commenting on the programme, Manish Misra, chief innovation officer at Panasonic Life Solutions India, said, “This initiative underscores our commitment to fostering groundbreaking technologies and solutions that address the evolving needs of commercial spaces while contributing to a sustainable future.”
The selected startups are:
- SustLabs – Based out of Mumbai, the startup was founded by Kaushik Bose in 2016. It develops consumer IoT solutions for home energy monitoring.
- MinionLabs – The Bengaluru-based startup was launched in 2017 by Gokul Shriniva. It has developed a product for measuring individual energy consumption in buildings.
- Clairco – Founded by Aayush Jha in 2018, the startup is headquartered in Bengaluru. It develops IoT-based smart air purification and space optimisation devices.
- Enlite – Founded in 2017 by Gaurav Bali, the Mumbai-based startup provides an AI-enabled wireless building management system.
- Zodhya – Launched in 2017 by Rohith Pallerla, the Hyderabad-based startup is a provider of energy optimisation solutions for commercial spaces.
- Living Things – Based out of Mumbai, the startup was launched by Madhusudhan Naik in 2019. It provides smart control hubs for air conditioners.
- Sensiable – Launched in 2019 by Ashish Singh, the startup is headquartered in Bengaluru. It is a provider of an IoT-enabled workplace space management solution.
- Carbon Minus – The startup was launched in 2019 in Pune by Ashok Ranfive. It is a provider of cloud-based solutions for energy plant management.
- Nebeskie – The Chennai-based startup was launched by Anik Bose in 2016. It is a provider of a SaaS, AI & IoT-powered electricity management platform.
- Quebeq Venture – Launched in 2019 by Logesh Janarthanan, the Chennai-based startup integrates a virtual power plant with proprietary energy solutions.
- Blaze – The Hyderabad-based startup was launched in 2007 by Arjun Valluri. It integrates smart sensor-based devices and IoT to deliver cost-effective and efficient device management, connectivity management, and application enablement solutions.
- Cymbeline – Launched in 2017 by Vivek Gowripeddi, the Bengaluru-based startup develops industrial IoT with diverse hardware, middleware, analytics, and cloud.
The development comes at a time when a number of companies and VC firms have been announcing accelerator and incubation programmes for startups.
For instance, game development major Krafton launched its incubator programme called KRAFTON India Gaming Incubator to support early stage gaming startups with primary investment and mentorship.
Earlier this month, GVFL in partnership with Brinc and Games24x7 in partnership with the Karnataka government announced accelerator programmes.
However, according to Inc42’s Indian Tech Startup Funding Report Q3 2023, for the first three quarters of 2023, the funding in Indian startups was merely more than $7 Bn against about $22 Bn during the corresponding quarters of 2022.
