India’s Education Ministry Drops 5 Free AI Courses—No Cost, Just Code!

The Ministry of Education has launched five free Artificial Intelligence courses on the SWAYAM portal to empower students and professionals with future-ready AI skills.

Course Offerings:

Course Title	Focus Area	Duration	Designed By
AI/ML Using Python	Basics of Python, data visualization, machine learning, statistics, and optimization	36 hrs	IIT Madras
Cricket Analytics with AI	Sports analytics using Python and data science, with cricket as the case study	25 hrs	IIT Madras Pravartak
AI in Physics	Applying ML and neural networks to solve physics problems	45 hrs	IIT Madras
AI in Chemistry	Drug design, reaction modeling, molecular prediction using AI tools	45 hrs	IIT Madras
AI in Accounting	Automation and smart analysis in accounting	45 hrs	IIT Madras

🎓 Who Can Enroll?

• School and college students
• Commerce, science, and management stream learners
• Professionals seeking AI upskilling

Registration & Certification

• Visit swayam-plus.swayam2.ac.in
• No fees required
• Certificate awarded upon successful completion

IIT Madras to Launch ₹200 Crore VC Fund to Back Deeptech Startups

IIT Madras has announced the launch of a ₹200 crore (~$24 million) venture capital fund to support early-stage deeptech startups, particularly those incubated within its innovation ecosystem.

The fund, titled the IITM Alumni Fund, was formally introduced during the Sangam 2025 alumni summit in Bengaluru.

The fund aligns with the institute’s Startup Shatam mission to incubate 100 deeptech startups annually. 

• Fund Focus: Pre-Series A and Series A investments in deeptech ventures
• Backers: Primarily funded by IITM alumni and high-net-worth individuals
• Structure: Operates as a separate legal entity with standard VC governance
• Vision: Supports the institute’s ‘Startup Shatam’ mission to incubate 100 deeptech startups annually
• Track Record: IITM has already incubated 500+ startups with a combined valuation of over ₹50,000 crore and created 11,000+ jobs
• Notable Successes: Includes unicorns like Ather Energy and Uniphore

Prof. Ashwin Mahalingam, Dean (Alumni and Corporate Relations), IIT Madras, said —

“This fund will help accelerate our vision of ‘Startup Shatam’... A focused Series A-level VC fund, where the investors are our own alumni and well-wishers, is exactly what is going to get us there.”

Deeptech Startup Sthyr Energy Secures $1 Mn to Advance Zinc-Air Battery Innovation

IIT Madras-incubated startup Sthyr Energy has raised $1 million in seed funding, led by Speciale Invest and supported by Antares Ventures, reported Economic Times. The funding will accelerate the development of their novel mechanically rechargeable Zinc-Air battery system, designed for long-duration, grid-scale energy storage.

What Makes Sthyr Stand Out

• Mechanically rechargeable Zinc-Air battery architecture
• 100+ hours of storage ideal for seasonal and remote grid use
• Uses non-flammable, water-based electrolytes for safety
• No rare earth materials; built from locally available resources
• Decoupled energy and power components for modular scaling
• Targets fossil-free peaker plant replacement and microgrids

Comparison with Other Energy Storage Solutions

Lithium-Ion Batteries

• 4–6 hour duration
• Safety concerns due to thermal runaway
• Dependence on imported metals like cobalt and lithium
• Suited for EVs and short-duration balancing

Flow Batteries

• 6–12 hours duration, extendable
• Generally safe but bulky systems
• Uses vanadium or other redox materials
• Costly upfront, best for frequent cycling

Green Hydrogen

• Storage duration from days to weeks
• Challenges with storage and flammability
• Involves electrolyzers and fuel cells
• Still expensive with energy conversion inefficiencies

Sthyr Energy was founded by Gunjan Kapadia, Akhil Kongara, and Muhammed Hamdan, all researchers from IIT Madras. Gunjan serves as the CEO, Akhil as the CTO, and Hamdan as the COO. Their collaboration stems from over five years of foundational research at IIT-M, where they set out to rethink battery architecture for long-duration energy storage.

The Deeptech founders are quite the powerhouse trio—each bringing technical depth and a mission-driven mindset to the table.

Sthyr’s Zinc-Air solution could prove transformative for India’s renewable grid, microgrids in remote areas, and as a cost-effective alternative to fossil-based peaker plants—marking a significant step toward energy independence and resilience.

Hyundai Group Partners Three IITs for Battery-Tech, Electrification Research, Investing $7 Mn

• Hyundai Motor Group partners with the Indian Institutes of Technology (IITs) to establish a collaborative research system in batteries and electrification
• Group plans to invest around USD 7 million over five years, starting in 2025, to jointly conduct battery and electrification-related research with the IIT universities
• The Hyundai CoE to facilitate technical and human exchanges between battery and electrification experts from Korea and India, fostering talent and promoting long-term employment

Hyundai Motor Group, on Tuesday, announced partnerships with the Indian Institutes of Technology (IITs) to establish a collaborative research system in the fields of batteries and electrification. The three institutes include IIT Delhi, IIT Bombay and IIT Madras.

Hyundai Motor Group Partners with Indian Institutes of Technology to Advance Battery and Electrification Research

Investment:

USD 7 million over five years (2025-2029) to support various research activities.

Hyundai Center of Excellence (COE):

• Location: IIT Delhi
• Objective: To drive advancements in batteries and electrification, specifically tailored to meet the unique requirements of the Indian market.
• Activities: Conducting joint research, facilitating technical and human exchanges between Korean and Indian experts, and fostering talent development.

Collaboration Areas:

• Battery Technology: Researching and developing advanced battery solutions.
• Electrification: Innovating in electrification technologies.
• Software Development: Enhancing software for electric vehicles (EVs)
• Hydrogen Fuel Cells: Exploring hydrogen fuel cell technologies.

Impact:

• EV Ecosystem: Contributing to the establishment of an EV ecosystem in India, in line with government policies for expanding EV distribution.
• Academic-Industrial Cooperation: Promoting collaboration between academia and industry to drive innovation and growth.

Hyundai Motor Group plans to contribute to the establishment of an electric vehicle (EV) ecosystem in India. This will be done in conjunction with various policies for expanding EV distribution, implemented by the Indian government. The collaboration will involve the Centre for Automotive Research and Tribology (CART), the only EV-related research institute in India, located within IIT Delhi.

The Hyundai CoE will not only conduct joint research on academic-industrial cooperation tasks but also facilitate technical and human exchanges between battery and electrification experts from Korea and India. This will involve technical exchange meetings, special IIT lectures by Group battery and electrification experts, and operation of Korean visit training programs. The Group plans to continue efforts for, fostering talent and mid- to long-term employment.

This partnership aligns with Hyundai Motor Group's efforts to expand its presence in India and support the country's transition to sustainable mobility solutions.

CMC-Vellore and IIT-Madras Jointly Develop Portable, Affordable Robotic Device for Stroke Survivors

Christian Medical College (CMC) Vellore and IIT Madras have developed a portable robotic device named PLUTO (Plug-and-Train Robot for Hand Neurorehabilitation) to aid stroke survivors in their recovery through hand movement therapy. This innovative device is designed to be affordable and user-friendly, making it accessible for use in various settings, including hospitals, small clinics, community centers, and even at home.

Pluto employs a single motor with multiple attachments to train different hand functions, inspired by the design of a mixer grinder⁴. It has already been used by over 1,000 patients across nine clinics in India, showing promising results. The technology has been licensed to Thryv Rehab Solutions for commercialization.

This development is a significant step forward in neurorehabilitation, potentially enhancing the quality of life for many stroke survivors.

This project was led by Prof. Sivakumar Balasubramanian from the Department of Bioengineering at CMC Vellore and Prof. Sujatha Srinivasan from the Department of Mechanical Engineering at IIT Madras.

Pluto was developed in collaboration with the Departments of Physical Medicine and Rehabilitation and Neurological Sciences at CMC Vellore. Initial funding came from the Department of Biotechnology, Government of India, with additional support from CSR grants provided by Tata Boeing Aerospace Limited ( TBAL) and Tata Elxsi Limited, which further enhanced PLUTO’s technological readiness.

The innovation has secured an Indian patent, with patents pending in the US and Canada.

Pluto, the physiotherapy robot, stands out in several ways compared to other rehabilitation devices:

1. Affordability: Pluto is designed to be cost-effective, making it accessible to a broader range of patients, including those in rural or low-income areas. Many advanced rehabilitation devices can be prohibitively expensive.

2. Portability: Unlike many bulky rehabilitation machines, Pluto is portable and can be used in various settings, including at home. This flexibility is crucial for continuous therapy, which i often needed for effective stroke recovery.

3. User-Friendly Design: Inspired by the simplicity of a mixer grinder, Pluto uses a single motor with multiple attachments to train different hand functions. This design makes it easy to use without extensive training.

4. Proven Effectiveness: Pluto has already been tested on over 1,000 patients across nine clinics in India, showing promising results. This real-world usage provides a strong foundation for its effectiveness.

5. Customization: The device can be tailored to individual patient needs, which is essential for personalized rehabilitation plans.

In comparison, other rehabilitation devices might offer more advanced features or higher precision but often at a higher cost and with less portability. Pluto's balance of affordability, portability, and effectiveness makes it a valuable tool for stroke rehabilitation.

Researchers at IIT Madras Develop Universal Battery Charger for Electric Vehicles

Researchers at the Indian Institute of Technology Madras (IIT-M) have developed a universal battery charger for electric vehicles (EVs). This innovative charger is capable of providing a wide range of voltages from 120-900 V from a universal input power supply, which means it can potentially charge all types of EVs, including two-wheelers, three-wheelers, and four-wheelers, from a single unit.

The charger also features a controller programming that can be adapted for use in different countries based on the input power supply availability. This could significantly simplify the EV charging infrastructure and is akin to having a universal fuel pump for different types of vehicles.

Moreover, the charger is designed to be portable, serving as an emergency kit in case of vehicle breakdown or deep discharge of the battery pack. The research team, led by Dr. Deepak Ronanki, Assistant Professor at the Department of Engineering Design, IIT-M, aims to commercialize this charger for both onboard and offboard use, which could help reduce the production cost of chargers and promote wider adoption of EVs.

This development addresses one of the major hurdles in the widespread adoption of EVs, which is the lack of a seamless and quick charging infrastructure. By being able to modify the input power supply to meet the EV's requirements and deliver the appropriate output voltage, the universal charger by IIT Madras could play a crucial role in the EV ecosystem.

This development is particularly significant as one of the major barriers to the adoption of EVs is the lack of a seamless and quick charging infrastructure. The universal charger developed by IIT Madras addresses this issue by being able to modify the available input power supply according to the EV's requirements and deliver an output voltage based on the battery pack voltages.

The research is led by Dr Deepak Ronanki, Assistant Professor, Department of Engineering Design, IIT-M, and published in peer-reviewed journal IEEE Transactions on Power Electronics.

The IIT Madras innovators are currently in talks with multiple industry players to commercialize the product. "We will be finalising a company very soon and the commercial production could happen in about a year’s time", said Dr Deepak. 

Source ~ Deccan Herald

IIT Madras Alumnus Pavan Davuluri Is New Head of Microsoft Windows and Surface

Pavan Davuluri, an alumnus of IIT Madras, has been appointed as the new head of Microsoft Windows. Pavan Davuluri will lead the combined Windows and Surface teams at Microsoft.

Davuluri has a history of overseeing Microsoft's hardware endeavors and will now be in charge of Windows engineering as well. This strategic move follows the internal merging of the Windows and Surface teams, marking a significant leadership reshuffle within Microsoft. Davuluri's experience and expertise are expected to play a key role in the development of both Windows and Surface products moving forward.

This follows the departure of Panos Panay and represents a significant leadership change within the company. Davuluri has been with Microsoft for over two decades and has previously overseen the company's hardware endeavors, including efforts to optimize Windows for Arm-based devices. His new role involves spearheading development on both Windows and Surface, marking a return to the earlier structure within Microsoft's Engineering and Devices organization.

Pavan Davuluri has been involved in several significant projects at Microsoft including the ones below –

Optimization of Windows for Arm-based devices: Davuluri played a key role in adapting Windows to run efficiently on Arm-based processors, which are known for their power efficiency.

Development of Surface processors: He oversaw the development of processors for the Surface line of devices in collaboration with companies like Qualcomm and AMD¹.

Contributions to Bing, Edge, and Copilot: His work also extended to Microsoft's search engine Bing, the Edge browser, and the AI-based tool Copilot.

These projects reflect his broad experience and expertise in both hardware and software, as well as his ability to lead teams in developing integrated solutions for Microsoft's products.

IIT Madras Unveils NeoStand, A Customizable Electric Standing Wheelchair Made with Indigenous Technology

IIT Madras Develops India’s Most Customizable, Indigenously-Developed Electric Standing Wheelchair

The project was sponsored by Tata Elxsi under its CSR initiative

On Wednesday, the Indian Institute of Technology Madras (IIT Madras) launched the NeoStand — an electric standing wheelchair that's customizable and made with indigenous technology. The wheelchair is designed to help users sit for long periods of time and then stand comfortably, reducing the risk of secondary health issues.

This electric wheelchair allows users to stop at intermediate positions using a switch, which can help with therapeutic aspects. For example, a caregiver or therapist can help the user practice standing gradually.

Launched at the IIT Madras campus on 20th March 2024 in the presence of Prof. V. Kamakoti, Director, IIT Madras, NeoStand is India’s most customizable Electric Standing Wheelchair, and has been developed indigenously to enhance the quality of life for wheelchair users.

At the touch of a button, wheelchair users can effortlessly transition from sitting to standing, opening a world of possibilities - be it engaging in eye-level conversations, reaching for a book, or simply enjoying a cup of coffee standing by a counter.

NeoStand 

Key features of the NeoStand:

1. Customizability: NeoStand is designed to be highly customizable, catering to the specific needs of individual users. This adaptability ensures that it can accommodate a wide range of requirements.

2. Motorized Standing Mechanism: With the touch of a button, wheelchair users can seamlessly transition from a sitting position to standing. This functionality opens up new possibilities, such as engaging in eye-level conversations, reaching for objects, or enjoying a cup of coffee while standing at a counter.

3. Compact Design: NeoStand's compactness allows easy maneuverability even in tight spaces, enhancing accessibility for users.

4. Health Benefits: By providing the freedom to sit for prolonged hours and stand comfortably when needed, NeoStand reduces the risk of secondary health complications associated with prolonged sitting.

5. Innovative Approach: The wheelchair offers a seamless transition between sitting and standing, with the option to pause midway. This approach underscores its commitment to improving users’ quality of life and social participation.

 

Mr. Justin Jesudas using NeoStand

Justin Jesudas, who has had quadriplegia for 14 years, says that the ability to stand with the push of a button makes the wheelchair more inclusive and helps quadriplegics stand independently.

The journey of NeoStand from concept to reality was supported by a collaborative ecosystem. The project was sponsored by Tata Elxsi under its corporate social responsibility initiative. The development and design were spearheaded by the TTK Center for Rehabilitation Research and Device Development (R2D2) at IIT Madras and NeoMotion, which took the lead in bringing this product to the marketplace.

The project development was led by Prof. Sujatha Srinivasan, Head, TTK Center for Rehabilitation Research and Device Development (R2D2), IIT Madras, who also led the development of ‘Arise,’ India’s first manual standing wheelchair, and NeoBolt, the country’s first motorized add-on for wheelchairs. This device has been commercialized and is being taken to the market through NeoMotion, an IIT Madras-incubated start-up.

For the majority of wheelchair users across the globe, the ability to stand is far-fetched. Standing is essential for better blood circulation, and digestion, preventing health issues like pressure sores and crucial for daily activities. Currently, users are often dependent on external help and some need to use orthoses. For persons with severe disabilities who have compromised upper body strength, this is a significant challenge, and a manual standing wheelchair is inadequate.

This groundbreaking initiative demonstrates the impact of translational research guided by IIT Madras faculty. NeoStand redefines the wheelchair experience, emphasizing user-centric design and empowering individuals with mobility challenges. As we navigate the complexities of accessibility and societal attitudes, let us recognize that advancements in assistive technology are not only technological imperatives but also moral imperatives.

IIT Madras Researchers Patent Technology That Generates Electricity from Both Tidal and Wind Sources

The current innovation is an energy converter system that generates electricity in coastal areas to reduce electricity consumption

Indian Institute of Technology Madras (IIT Madras) Researchers have patented a 'Combined Power Generation Technology' technology that can generate electricity from both Tidal and Wind sources.

This can be deployed as a mobile vehicle For Power Generation, Transmission and Storage. The current innovation is an energy converter system that generates electricity in coastal areas to reduce electricity demand. The converter system can be deployed depending on the power requirements in the coastal areas.

At present, the Researchers are focused on scalability and affordability and are trying to build a cost-effective prototype using 3D-Printing and other technologies.

A wind turbine mounted on a vehicle's roof will employ the converter technology to generate wind energy as well as convert tidal energy into electrical energy. The energy output of the system or gadget is entirely renewable and sustainable. The roof-mounted solar panel could also be used to power other equipment on mobile vehicles.

Elaborating on the key aspects of this innovation, Prof. A. Seshadri Sekhar, a former Head, Department of Mechanical Engineering, IIT Madras, who is currently on deputation to IIT Palakkad as its Director, said, "The current invention creates electricity using only one vertical axis wind turbine, a horizontal converter mechanism, and no hydraulic set generator based on pendulum support. The current converter also has a variety of height adjustable guider support mechanisms to help regulate the height of the elliptical plate attached to the main shaft. The current idea, on the other hand, lacks a horizontal axis turbine and is entirely onshore, therefore there is no severe corrosion problem.

Moreover, the converter is a remote-controlled system that can be relocated to any position based on wave height and power generation requirements.

Furthermore, without the need for a submarine connection, the generated electricity can be easily delivered from the transformer It also has fewer operating expenses, requires less maintenance, and produces clean energy. It can also be used as a moving vehicle. Tidal energy is a clean, sustainable energy source with significant potential and the unusual capacity to be totally predictable.”

Commenting on a timeline for possible field deployment of this unique technology, Prof. A. Seshadri Sekhar said "The converter system may need to be relocated depending on the power demand in the coastal area. The system's or gadget's energy output is fully renewable. The solar panel on the roof is also used to power other equipment on mobile vehicles.”

Novelty of This Technology

The following mechanisms are unique to the current technology and have specialised features:

• Spring -assisted mechanism,
• Adjustable guider structural support mechanism,
• Main shaft with five converter gear shaft mechanisms,
• Direction converter gear mechanism, floor level adjustable mechanism, 
• Gear coupling mechanism.

Highlighting the novel aspects, Mr. Sadham Usean Ramasamy, PhD Research Scholar, Department of Mechanical Engineering, IIT Madras, said, “This technology will potentially entail fewer expenditures, require less maintenance and produce clean and sustainable energy."

The technology developed by IIT Madras researchers envisages locating the entire converter onshore. Hence, there would be no major corrosion issues. Additionally, the converter is a remote-based system that can be moved to any location based on wave height as well as power generation requirements.

HCL Group's Learning Platform GUVI Partners with IIT-Madras Pravartak to Launch Multilingual CAD Courses

GUVI Geek Network Pvt. Ltd., a leading online learning platform of HCL Group, introduces two groundbreaking Computer-Aided Design (CAD) courses curated exclusively for civil and mechanical engineers. These industry-certified programs, endorsed by IIT Madras (IITM) Pravartak and Autodesk, equip learners with cutting-edge CAD Automation using python skills essential for excellence in their fields. What sets these courses apart is GUVI's innovative approach to language inclusivity, enabling learners to engage with coding in English and Tamil, fostering a truly multilingual learning experience.

GUVI is at the forefront of delivering innovative and accessible e-learning solutions in a rapidly evolving digital landscape. Recognizing the lack of vernacular language learning options, GUVI offers Hindi, Tamil, Telugu, and ten additional languages alongside English. This inclusive approach revolutionizes education, democratizing access and providing equal opportunities to learners across the nation.

The courses for Civil Engineers and Mechanical Engineering aspirants equip learners with essential CAD skills. Civil engineering students gain hands-on experience in Architectural and Construction planning, 3D Modeling, Building Information Modeling, Structural analysis, Construction documentation, CAD Automation with Python using industry-standard tools like AutoCAD, BIM, Revit, 3ds Max, Vray, STAAD.Pro and Building Estimation & Costing. Mechanical engineering participants master CAD tools such as AutoCAD, SolidWorks, CATIA v5, ANSYS, NX CAM and GD&T to create 3D models, perform simulations, optimize design and CAD Automation with Python. Both courses offer a one-month internship with certification for practical industry experience, improving career prospects.

GUVI Courses are more into industry specific training where Mechanical learners can get into product design, automotive design, CNC Programming, CAE engineering and Research and development for mechanical fields and Civil learners can get training in building design, interior design, advanced BIM, Urban planning and Structural design and analysis.

The courses are delivered entirely online, allowing learners to study at their own pace and convenience. Spanning nine months, the courses feature weekend classes, catering to the busy schedules of working professionals and students. This flexible format enables individuals to pursue their education while managing their current commitments. Both courses also include GUVI's Zen Class, a premium offering job assistance upon completion. Explore the CAD Civil Course here - https://bit.ly/43RSzPQ & CAD Mechanical Course here - https://bit.ly/3XodesV

With the grand launch of CAD programs, Mr Arun Prakash, Founder & CEO of GUVI, said, “The IITM Pravartak & Autodesk Certified CAD programs are the ideal solutions for the skill-gap between Mechanical, Civil industry requirements and student capabilities. With native language-Tamil and English as the medium of instruction throughout the course program, we aim to launch proficient CAD Engineers in large scale along with best career guidance & project centric upskilling methods”.

GUVI offers learners the unique opportunity to receive training from industry experts from renowned companies such as Ashok Leyland, Renault–Nissan, Larsen and Toubro, DLF, URC, Tata Projects, AECom, Bosch, Ford, Hinduja, and Hyundai. These professionals leverage their extensive experience and expertise to share real-world insights, industry best practices, and practical examples. The inclusive approach of these courses offers a starting point for those learners interested in these fields.

“Our CAD courses are not only well accredited by Autodesk and IITM Pravartak, but are also perfectly aligned with the latest needs of both the Civil and Mechanical industry. Our Zen class learners with high aspirations will face the industry with confidence through gained skills meeting the requirements of both industries”, Mr Balamurugan SP, Co-founder, GUVI, said.

Recently, GUVI also launched an extraordinary opportunity that allows all individuals to positively impact the lives of career aspirants, working professionals, college students, and kids while earning a generous affiliate income on eligible purchases made by their referred users through GUVI’s Affiliate Program. The affiliates who sign up will have a better opportunity to earn advertising income as commissions, for the purchases made in this attribution period by each referred user. To know more about the GUVI’s Affiliate Program, click here - https://bit.ly/3p5oKfT

About GUVI Geek Technology: GUVI, an HCL Group company is one of India’s leading integrated edtech platforms incubated by IIT – Madras, offering technical courses created by industry experts in vernacular languages. Started as an informative YouTube channel in 2011, GUVI today provides affordable technical education in multiple languages and is trusted by 2 million+ learners, and 600+ corporates across 30 countries.

Through its self-paced learning courses and instructor-led programs, GUVI brings real-life industry exposure to its learner community, which includes students, job aspirants, and tech professionals helping them achieve their career goals. For more information, visit www.guvi.in

About HCL Group

Founded in 1976 as one of India’s original IT garage start-ups, HCL is a pioneer of modern computing with many firsts to its credit, including introducing the 8-bit microprocessor-based computer in 1978 well before its global peers. Today, the HCL enterprise has a presence across varied sectors that include technology, healthcare, and talent management solutions and comprises three companies – HCL Infosystems, HCL Technologies, and HCL Healthcare. The enterprise generates annual revenues of over US$12.8 billion with over 223,438 employees operating across 60 countries. For further information, visit www.hcl.com

Revoh Innovations, An IIT-Madras Incubated Startup, Raises Seed Funding of $425K from Nexzu Technologies and Whiteboard Capital

IIT-Madras-incubated Revoh Innovations, an EV sub-components manufacturing company announced that it has successfully raised $425K in seed round from Nexzu Technologies and Whiteboard Capital.

With the new round of funds, Revoh plans to expand the team size and focus on developing specific products that cater to the current needs of the Indian electric vehicle market. The funds will be utilised to manufacture products with higher power specifications while simultaneously enhancing the existing products by incorporating advanced features. Previously, in round seed A, Revoh received funding from angel investors, and, at present, the company in round seed B, the company has raised $425k. Team Revoh proudly says that the firm has been consistent with the goals, and now, as expected, the seed B has provided generous amount to keep the streak and preset goals going.

Revoh Innovations is an EV sub-component manufacturing company, developing technology solutions for motor controllers to enhance the efficiency of two-wheeler/ three-wheeler EV vehicles. Its commitment to cutting-edge research methodologies and production techniques enables it to deliver the most efficient EV controllers as compared to its other indigenously designed and developed counterparts. Revoh, is on a mission to revolutionize the Indian EV sector by reducing the market's reliance on overseas subcomponents and products. The company has around 75 clients worldwide, ranging from multinational corporations to startups.

Commenting on the same, Mr.Vignesh Durai, CEO, Revoh Innovations said, “Revoh’s growth has been exceptional, particularly in the last two years. Our clients love the product quality and the unique customization we offer. The funding that we have received goes into the expansion of the company and recruiting special talents that can provide superior skills and extraordinary workmanship. Further, we are also planning to venturing into high-power controllers segment soon.”

With this injection of capital, Revoh Innovations is poised to make a lasting impact on the Indian EV sector, promoting sustainable transportation solutions and driving the adoption of indigenous EV sub-components.

About Revoh Innovations

Revoh Innovations Private Limited is an IIT-Madras-incubated Electric Vehicles sub-component manufacturing start-up focusing on research and development of motor controllers for EV applications.

Revoh's motor controllers use a unique and indigenously designed control algorithm—which means all the products are 100% customizable. Moreover, Revoh's BLDC drive is India's first BLDC controller to achieve 97% efficiency! All their products are locally designed and manufactured—in other words, all the products come with a proud "Made in India" seal! Recently, Revoh developed the most compact and most efficient indigenously developed BLDC motor controller.

Inflection Point Ventures partners with IIT Madras Alumni Association (IITMAA) to accelerate Startup Investing and Awareness

• IPV collaborates with IIT Madras Alumni Association to enhance a deeper, better understanding about Startup Investing by hosting curated masterclasses & knowledge sessions among the alumni of IIT Madras
• IITMAA will introduce and host events to connect IPV to their global chapters
• This collaboration intends to benefit the alums of IITM at large catering to both prospective investors of this asset class and startup founders who are looking to raise funding.
• This partnership marks IPV’s initiative to fuel the startup ecosystem, facilitate beneficial bridges, and build a long-term association with members of the IITMAA.
• IITMAA is registered under the Tamil Nadu Societies Act 1975, Chennai.

Inflection Point Ventures, one of India’s largest angel investment networks, has announced a collaborative partnership with the IITMAA to enhance a deeper and better understanding of startup investing and startup ecosystem among the alums. As part of this collaboration, IPV would be hosting curated masterclasses, knowledge sessions, meetups with Marquee investors and other events that will help IIT alums become more aware of this asset class.

Through this partnership, IPV aims to facilitate startup investing by allowing interested IIT alums to invest in startups that are founded by IIT alums and others as part of the IPV platform. IPV will participate as an investment and knowledge partner for relevant events hosted by IITMAA.

IITMAA’s primary mission is to enable professional networking among alumni, between professors and alumni, as well as networking of current students with alumni for mutual benefit in academic, professional, and business areas; including ‘Employment Network’ for new graduates and alumni looking for career upgrade or change, and alumni displaced from the workforce.

With this collaboration, IPV and IITMAA strongly believe it would benefit you (alumni of IIT Madras) in understanding and creating an additional investment asset class, portfolio diversification & long-term wealth creation by way of investing in startups.

Ankur Mittal, Co-founder, Inflection Point Ventures, says, “At IPV, we believe that startup investment has the potential to emerge as a long term wealth creation asset class. As more startup success stories emerge from India, we are seeing a clear trend of young workforce and even seasoned professionals leaning towards startup investments. While we have one of the largest investor networks of seasoned professionals, through alumni partnerships like IITMAA, we are keen to bring the benefits, pros and cons of startup investing to a younger audience and we hope to introduce them to our vast network and domain expertise built over the years.”

Through this partnership IPV will help IITMAA alums to connect and interact with fellow alumni of IITMAA who are already a part of IPV investor community group and IITMAA as a reciprocation will be introducing IPV to Global chapters and host in-person events and other events like fishmarket where the alums present their business/startup to the IIT community. In these events IPV will be invited as a knowledge sharing partner, investment partner, and speaker to spread awareness with respect to startup and angel investing.

Nishani Manohar, Executive Director, IITMAA says, “IITMAA has collaborated with IPV to engage its alums who would be looking forward to learning more about startup investing and build a robust Start-Up ecosystem for IITM Alumni Startups. The collaboration will enable IPV to share their knowledge and expertise with us, to improve startup & investor experiences and ensure future growth.”

As a part of this partnership, IITMAA will provide IPV with exclusive access to their events, which would enhance awareness around startup investing and the ecosystem in general for the participants.

IPV on the other hand will extend a warm invitation to IITMAA to join us at our in-person events, where they can connect with like-minded individuals and learn more about the latest trends and innovations in the startup world.

This win-win partnership is expected to create more angel investors and a vibrant startup ecosystem in India and provide an umbrella structure to oversee the innovation and entrepreneurship ecosystem of the country. It will empower IIT alums to become more active participants in the startup community while also providing entrepreneurs with new opportunities to access capital and support.

Inflection Point Ventures (IPV) is an angel investing platform with over 7400 CXOs, HNIs, and Professionals who invest in startups. The firm supports new-age entrepreneurs by providing them with monetary and experiential capital and connecting them with a diverse group of investors. IPV has announced the launch of a $50 million CAT 2 AIF (alternate investment funds) Physis Capital to invest in pre-Series A to Series B growth-stage start-ups.

IIT Madras Alumni Association (IITMAA), founded in December 1964, is a world-class organization dedicated to fostering connections and engagement among its more than 50,000 alumni, students, and faculty across the globe. Their primary mission is to connect & engage the alumni with their fellow alumni, institute, and students on the campus through various activities among all the stakeholders- to generate impact through several social and academic projects for collective growth.

IIT Madras Incubated Semiconductor Startup Mindgrove Raises $2.32 Mn in Seed Funding

Chennai-based Semiconductor startup MindGrove Technologies has secured $2.325 million in seed funding led by Sequoia Capital India.

Other investors who participated in the round include Speciale Invest and Whiteboard Capital, as well as Ashwini Asokan, CEO of Mad Street Den, and Nischay Goel, CIO of Duro Capital, who participated in their personal.

Mindgrove designs state-of-the-art, scalable, and reliable System-on-Chips (SOCS) in India. These high-performance chips can be leveraged in power-constrained environments such as industrial automation, automotive, consumer electronics, defense, security, and aviation.

Founded in 2021, by Shashwath T. R. and Sharan Srinivas J., Mindgrove design cost and power-effective microprocessor technology in India, for the world. Mindgrove is backed by IIT Madras Incubation Cell, and IITM Pravartak Technologies Foundation, a DST, Govt of India funded section 08 company housing the Technology Innovation Hub on Sensors, Networking, Actuators, and Control Systems (SNACS).

Mindgrove designs state-of-the-art, scalable, and reliable System-on-Chips (SOCs) in India. These high-performance chips can be leveraged in power-constrained environments such as industrial automation, automotive, consumer electronics, defense, security, and aviation.

Mindgrove’s series of 3 SoCs - System on Chips - are designed specifically for Edge signal processing and vision applications. They are based on the 'Shakti' core microprocessor which is amongst India’s first industrial grade microprocessors. Shakti was developed at the Reconfigurable Intelligent Systems Engineering (RISE) Lab at IIT Madras, under the Digital India RISC-V program funded by the Ministry of Electronics and Information Technology (MeitY) .

About the founders of Mindgrove, Shashwath is an electronics engineer by training. A graduate from SRM Engineering college, Shashwath worked at Lucid Software from 2006 to 2021. Lucid provides Non Destructive Testing (NDT) services to various heavy industries.

During his 15 year stint at Lucid, Shashwath developed specialised ultrasound devices, drivers and computer vision algorithms for the nuclear, oil and gas and the aerospace industry. He is an expert in systems engineering, signal processing and machine vision software.

While, Sharan is a computer scientist with an undergraduate degree in Computer Science from Meenakshi Sundararajan Engineering College, Anna University (2012) and a masters degree in Computational Science from ETH Zurich.

At ETH Zurich, Sharan developed an interest in programming for high performance scientific applications. He worked at Lucid Software from 2016-2021 where he developed CUDA/OpenCL programs running on NVIDIA GPUs. At Lucid, Sharan got a taste of hardware and embedded programming, and also met Shashwath.

Mindgrove's journey so far has been made possible by a unique government - academia - industry collaboration. The semiconductor industry itself is a global industry and such collaborations have yielded high returns for countries like Japan, Singapore, South Korea and Taiwan in the last few decades.

Tata Steel and TuTr Hyperloop Sign MoA to Develop and Deploy Hyperloop Technology, the Future of High-Speed Sustainable Mobility System

Tata Steel and TuTr Hyperloop signed a Memorandum of Agreement (MoA) at IIT Madras on December 23, 2022, to jointly work on development and deployment of Hyperloop technology at scale. The main research areas will focus on key challenges of design and materials selection.

Hyperloop is a future option for high-speed, low cost, sustainable transport system for both passengers and cargo. The hyperloop system has key elements such as tubes, pods, propulsion systems, and track. Autonomous, levitated pods travel through a network of evacuated tubes. It promises 10x more energy-efficiency than road transport and aviation, uses 2-3x less space than rail and road, and enables shorter travel duration than aviation.

Dr. Debashish Bhattacharjee, Vice President, Technology & New Materials Business, Tata Steel, said: “We encourage and foster homegrown technologies and are committed to drive them towards commercial success. Globally, Hyperloop holds huge potential for high-speed sustainable transportation of tomorrow. We believe that this disruptive mobility technology can achieve its stated objective through concerted efforts of TuTr Hyperloop and Tata Steel, leveraging their core capabilities. As a materials company committed to sustainable business, we will contribute to finding solutions to critical challenges in the Hyperloop journey by leveraging our R&D capabilities and the Tata ecosystem.”

R Balaji, Co-founder & CEO, TuTr Hyperloop said: “We are delighted to be working with Tata Steel on this breakthrough project. We are currently developing and testing various options to make Hyperloop technology solution a global benchmark in terms of cost and efficiency. To meet this objective, we need to leverage the capabilities of global leaders like Tata Steel. Partnership with Tata Steel will enable us to solve materials and design related challenges and drive Hyperloop to become a reality.”

Tata Steel has core expertise in design & development of steel and composite materials. In line with its strategic intent to develop future ready sustainable business, Tata Steel has identified Hyperloop as an opportune breakthrough technology in the area of future mobility. TuTr, a deeptech startup incubated out of IIT Madras, India, is a front runner in this space and is promising a low-cost hyperloop solution as its key value proposition. TuTr has unique strength in pod and propulsion system design. Tata Steel and TuTr jointly aim to design, develop, and scale up the technology for commercialisation.

The phase-I work will happen on the 50m test track at IIT Madras. The subsequent work to achieve a 10-km track will be completed in Phase II & III involving a consortium of other industry partners from the Automotive, Construction and Engineering sectors.

About TuTr Hyperloop

TuTr Hyperloop is a deeptech startup that is focused on developing hyperloop technologies. Its endeavour is to provide customers with fast and reliable ‘on-demand’ transportation that is both affordable and greener in comparison with other modes of transport. Currently, India’s (and Asia’s) first hyperloop test track is under implementation at the Discovery campus of IIT Madras. TuTr seeks to leverage its partnership with IIT Madras and its co-location with India’s largest deep tech ecosystem to catalyse the development of cost-effective Hyperloop technologies that help enhance the productivity of various industries by solving their pain points with regards to goods movement.

About Tata Steel

Tata Steel group is among the top global steel companies with an annual crude steel capacity of 34 million tonnes per annum. It is one of the world's most geographically diversified steel producers, with operations and commercial presence across the world. The group recorded a consolidated turnover of US $ 32.83 billion in the financial year ending March 31, 2022.

A Great Place to Work-CertifiedTM organisation, Tata Steel Limited, together with its subsidiaries, associates, and joint ventures, is spread across five continents with an employee base of over 65,000. Tata Steel has been a part of the DJSI Emerging Markets Index since 2012 and has been consistently ranked amongst top 10 steel companies in the DJSI Corporate Sustainability Assessment since 2016. Besides being a member of ResponsibleSteelTM, worldsteel’s Climate Action Programme and World Economic Forum’s Global Parity Alliance, Tata Steel has won several awards and recognitions including the World Economic Forum’s Global Lighthouse recognition for its Jamshedpur, Kalinganagar and IJmuiden Plants, and Prime Minister’s Trophy for the best performing integrated steel plant for 2016-17. The Company, ranked as India’s most valuable Metals & Mining brand by Brand Finance, featured amongst CII Top 25 innovative Indian Companies in 2021 and top 10 sustainable organisations of India Hurun Research Institute in the 2021 Capri Global Capital Hurun India Impact 50, received Steel Sustainability Champion recognition from worldsteel for five years in a row, ‘Most Ethical Company’ award 2021 from Ethisphere Institute, RIMS India ERM Award of Distinction 2021, Masters of Risk - Metals & Mining Sector recognition at The India Risk Management Awards for the sixth consecutive year, and Award for Excellence in Financial Reporting FY20 from ICAI, among several others.

To know more, visit www.tatasteel.com and www.wealsomaketomorrow.com.

Disclaimer

Statements in this press release describing the Company’s performance may be “forward looking statements” within the meaning of applicable securities laws and regulations. Actual results may differ materially from those directly or indirectly expressed, inferred or implied. Important factors that could make a difference to the Company’s operations include, among others, economic conditions affecting demand/ supply and price conditions in the domestic and overseas markets in which the Company operates, changes in or due to the environment, Government regulations, laws, statutes, judicial pronouncements and/ or other incidental factors.

Murugappa Group Company, TII, Acquires 50% Stake in IIT Madras Incubated Waste-to-Fuel Startup X2Fuel

Tube Investments of India, a Murugappa Group company, has agreed to acquire a 50% stake in X2Fuels & Energy, a startup company engaged in developing processes to convert waste into fuels, for 61.5 million Indian rupees ($752,815), reported leading national dailies.

As part of the acquisition deal , the company will subscribe to 10,753 equity shares of X2Fuels.

Incubated at the IIT Madras Incubation Cell, X2Fuels & Energy is an early-stage start-up based at the National Centre for Combustion Research and Development (NCCRD) at IIT Madras.

The major goal of X2Fuels & Energy is to employ thermochemical technologies including hydrothermal liquefaction and pyrolysis to convert wastes to fuels and energy in a distributed fashion to solve the solid waste problem in India.

Currently, with the available platform, the startup is developing commercial-ready technology as it work with its partners to build the India’s first commercial-scale distributed hydrothermal plant.

The technology will be compact, adaptable for different feedstocks, energy efficient and reliable. It is being designed to cater the waste disposal problems of different sectors, viz., agricultural, municipalities, industrial plants, to make energy-rich fuels towards a Circular Economy. 

X2Fuels was founded in 2018, by Dr Vinu R and Dr S R Chakravarty. The tech startup has developed a microwave pyrolysis reactor to produce high quality bio-oil from mixtures of biomass agri-residues and waste plastics that is similar in characteristics to petroleum-derived light fuel oil (LFO).

Incorporated as TI Cycles of India Limited in 1949, Tube Investments of India Limited is a Murugappa Group company that specializes in engineering, bicycles, metal formed products, and chains.

About the Murugappa Group, it is over 100 year old Indian conglomerate founded in 1900 and has 28 businesses including nine companies listed on the NSE and the BSE. Headquartered in Chennai, the major companies of Murugappa Group include Carborundum Universal Ltd., Cholamandalam Financial Holdings Ltd., Cholamandalam Investment and Finance Company Ltd. and Cholamandalam MS General Insurance Company Ltd., among others.

IIT Madras Incubated EV Startup Esmito Raises Rs 10 Cr in Seed Round Led by Unicorn India Ventures

• Esmito is a battery swapping solutions provider working with OEMs and last mile delivery players to enable Energy as a service
• Funds to be primarily used for expansion of swapping solutions and further strengthening the technology team to bring out world class products
• IIT-Madras incubated Esmito has developed multiple EV technologies with CBEEV and has also been instrumental in shaping standardization and policy alignments for the larger adoption of swapping in the country

IIT Madras incubated EV startup Esmito has raised Rs 10 crore in a seed round led by Unicorn India Ventures.

The funds raised will be deployed for the expansion of swapping solutions and to further strengthen the technology team. Founded in 2018, by Prabhjot Kaur, Hasan Ali and Akhila Vijay Kumar the company offers swapping solutions and energy as a service to logistics and last mile mobility players that includes products integrated with web & mobile applications and embedded analytical modules.

Sparsh Kumar, Vice President, Unicorn India Ventures says, “The Indian EV market is evolving rapidly and the Government has been at the forefront of framing policies related to EV adoption, battery standardization and swapping in India. The EV industry, according to various estimates, is projected to see anywhere between 30-90% CAGR, sustained through this decade and possibly even beyond. This roughly translates into EV sales overtaking ICE vehicle sales by mid-to-late 2030s with India becoming the 3rd largest EV market. Combined with the fact that this adoption is going to be much faster in the commercial 2W and 3W categories which Esmito aims to serve, we think that there is a lot of potential of rapid value creation in this space.”

Esmito provides integrated battery swapping solutions leveraging its IoT-enabled cloud platform. The Company aims to deepen its differentiation in swapping even though the swapping solutions industry is at a nascent stage. The funding will enable Esmito to continue executing its growth strategy and strengthen its position as the largest swapping infra solutions provider. The company aims to build multiple use cases in key segments like Logistics & MAAS (Mobility as a Service).

Esmito has built multiple EV technologies with Centre for Battery Engineering and Electric Vehicles (CBEEV) and has been instrumental in shaping standardization and policy alignments for the larger adoption of swapping in the country.

The company has also launched smart battery swap solutions for the Mobility Service Providers. The swapping infra solutions provider aims to build and scale further their swapping solutions for both the 2 and 3 wheeler market in India.

Hasan Ali, Co-founder, Esmito says, “Esmito is rightly positioned in a rapidly growing and a fast evolving EV market. Based on our strengths in building scalable swapping technology, we believe that Esmito can unlock immense value for the end user thereby accelerating the adoption of EVs in the country. The booming battery swapping market coupled with Esmito’s strength of in-house technology capability can enable Esmito to lead the Energy/ Battery as a Service market.”

Esmito collects data from all sub-systems and performs intelligent data analytics across all the solutions which assist in EV asset optimization, inventory control, charging demand forecasts and driving patterns. The platform also generates insightful reports for charger usage, battery and cell life analytics, vehicle performance, driving behavior, and user transactions.

About Esmito:

Esmito is an IIT Madras incubated company with technology co-developed with Centre for Battery Engineering and Electric Vehicles (CBEEV). Esmito has developed multiple EV technologies with CBEEV and has also been instrumental in shaping standardization and policy alignments for the larger adoption of Swapping in the country.

About Unicorn India Ventures:

Unicorn India Ventures is a Mumbai-based early stage fund house started in 2016 by Anil Joshi and Bhaskar Majumdar. From its first Fund, UIV has invested in 18 companies like SmartCoin, Open Bank, Inc42, Sequretek, Pharmarack, Genrobotics, NeuroEquilibrium, to name a few. Unicorn India Ventures Fund II, which is a Rs 300 crore fund launched in 2019 which has invested in 19 companies so far like Gamerji, ForeignAdmits, Probus, SocialSwag. The Fund has emerged as the best performing early stage fund in India with the stellar exits provided by the fund to its LPs.

Mitsubishi Electric India Signs MOU with IIT Madras Research Park for R&D Support of Power Semiconductor Solutions

An Initiative to support local research and development of cost-effective sustainable technologies

Mitsubishi Electric India Power Semiconductors, have entered into a Memorandum of Understanding with IIT Madras Research Park to support the programs conducted by the institute for the research and development of sustainable technologies. Rapid innovation and technological upliftment in India are the goals that Mitsubishi Electric aims to achieve for the nation’s consistent development and through this partnership with IIT Madras Research Park, the company took a step ahead to accomplish the same.

Mitsubishi Electric is a pioneer of Semiconductor technology and is a leading brand which is contributing towards the advancement of the society through its electrical and electronic products & solutions which are suitable for diverse production needs.

IIT Madras Research Park is India’s first university-based park that thrives on innovation and entrepreneurship through industrial and academic interactions which support students as well as tech start-ups to scale up their entrepreneurial skills and advanced learnings. This initiative by Mitsubishi Electric will support and help them by providing components, practical knowledge & workshops to help the students learn the innovative semiconductor technologies and provide Power Semiconductors as per the requirements of the institute. The company has set-up a support centre to help resolve the queries and provide practical information to support the faculty and students in learning technologies for research and development.

On this collaboration, Mr. Ashok Jhunjhunwala, Institute Professor & President IIT Madras Research Park and IITM Incubation Cell, stated that, “Make in India requires Design in India. We need the best of components to let our homegrown product compete with imported products and in the international market. Our partnership with Mitsubishi Electric India allows us to move towards this larger goal. Our products need to be developed through the best manufacturing process and have superior quality, while still being low cost.”

Addressing the occasion of MOU signing, Mr. Hitesh Bhardwaj, General Manager, Semiconductor and Devices division, Mitsubishi Electric India Pvt. Ltd. said, “We are delighted to partner with IIT Madras Research Park in its goal to bring technological upliftment in the educational system which can benefit to strengthen the roots of the upcoming generation. Our Power Semiconductor technology holds a prominent position in the global market. We envision bringing technological development in India which is achievable through this initiative of educating the youth and helping them get familiar with the new advancements.”

Mitsubishi Electric India aims to collaborate with such highly impactful institutions spread across the country which can empower the youth to contribute towards the development of indigenous technology that is sustainable for India.

IIT Madras and Inspire Institute of Sport Creating Low-Cost IoT-powered Boxing Analytics Platform 'Smartboxer'

A team from IIT-Madras has collaborated with Inspire Institute of Sport (IIS), Vijayanagar in Ballari district of Karnataka, to develop a cost-effective Internet-of-Things powered boxing analytics platform ‘Smartboxer,’ to increase India’s boxing medal tally at the 2024 Olympics.

The SportsTech platform will use wearable sensors & video cameras to assess the performance. It will provide an above-par competitive edge to Indian athletes by providing feedback and performance assessments using the IoT-enabled wearable sensors and video cameras.

IoT-powered devices in Smartboxer include — sensor-embedded gloves to analyze punch force; wireless foot insole with pressure sensor to record ground reaction force; wireless sensors to record a player’s lower body movement and inertial measurement unit to record upper body movement. Boxing ring video cameras will help classify players arm movements.

SAI has shortlisted archery, boxing, shooting, badminton, wrestling, hockey, weightlifting, cycling and athletics to improve medal tally in Olympics 2024.

The team will apply for patent for Smartboxer after IIS validates it.

Ranganathan Srinivasan, head, Centre of Excellence for Sports Science and Analytics and adjunct faculty in the Department of Chemical Engineering at IIT Madras, said, "Smartboxer is one of the many alternatives of IIT Madras aimed towards the Indian government’s ambitious goal of winning more medals in Olympics."

John Warburton, head of Youth Development (Boxing) at IIS, said: “We will be able to highlight to the boxers their strength and areas that require development such as patterns of movement, activity levels, punch and defensive repertoires, technically and tactically.”

Babji Srinivasan, associate professor in the Department of Applied Mechanics at IIT-M, said the system would integrate data and video streams and multiple IoT devices. The information from the data would provide fight analytics that would help not only coaches but also judges quantify the key traits of boxing champions.

3i Infotech and IIT Madras To Establish FutureTech Business Labs

 Also announces investment in partner ecosystem for SASE, edge computing, IoT and EdTech technologies

3i Infotech Limited (BSE: 532628, NSE: 3IINFOLTD), a global Information Technology company, committed to accelerating business transformation, announced its consolidated financial results for its fourth quarter ending March 31, 2022 and for fiscal year 2021-2022 (FY22). The company also made a series of key updates, which include - in FY22, 3i Infotech has tied-up with IIT Madras to establish FutureTech (earlier NextGen) business labs taking Telecom, Manufacturing, Logistics and Healthcare as a priority sector. The company has initiated setting up of development centers in Tier II / III cities and the first center would be functional in Q1 FY23. 3i Infotech has also invested in partner ecosystem for SASE, edge computing, IoT and EdTech technologies, potential growth opportunities globally in FY23. 

In tune with the evolving tech landscape and rapid digital proliferation, the company also mentioned that it would help enterprises to be industry 4.0 ready through its service offerings. Apart from BFSI, manufacturing (SMB and midmarket), retail, telecom, media, and entertainment sectors, 3i Infotech will also keenly focus on emerging industry verticals like EdTech, agritech and greentech.  

3i Infotech will actively scale its operations across the global business region, which comprises of US, UK, Middle East, and Africa. In US, the company plans to expand its BFSI, telecom, media, and entertainment presence, and in parallel launch their SMB strategy which is NuRe led. In UK, the company wants to lead through telecom, media, entertainment, manufacturing and horizontally via background verification services etc., that are powered by blockchain. Africa is seeing a lot of traction for the company. Middle East will also see substantial expansion and acceleration. 

Announced during the last quarter, the company has made significant strides around its resident entrepreneur program, which is helping create new platforms, technologies, and IPs for various organisations. Presently, 3i Infotech has three full time resident entrepreneurs – the first one being in cognitive computing services and advanced AI that is into prescriptive and real time edge analytics; second is from the EdTech space and the third is around the cybersecurity operations/SOC space. 

Mr. Thompson Gnanam, Managing Director & Global CEO, 3i Infotech Limited said, “The last quarter has been a buoyant one for us, negating much of the past legacy issues. Now, we can manage our cost predictability much better, and we are clear on the cost structures. We will strive for maximum revenue realization of the new orders booked in FY22-23 and the new lines of businesses are expected to change the revenue / margin mix for us.  As a standalone services company, we will try to be profitable which is the first milestone for us, as we chalk out this way forward plan where we build our own platform and co-exist with services.” 

The company reported a consolidated revenue of Rs 175.6 Cr in Q4 FY2022 reflecting a quarter-on-quarter growth of 6.0%, and FY2022 revenue of Rs 677 Cr reflecting an annual growth of 11.2%. The company shared a strong outlook for FY 22-23 with confirmed order book of Rs 760 Cr as of exit March 2022 and Rs 100 Cr new order book target for FY 22-23 with higher margin revenue mix of minimum 40/50%.

“This year, our organization structures have been drawn to separate the RUN, GROW and BUILD businesses. We are investing in the GROW business that focuses on better margin mix and will include new service lines whether it is cloud-first, digital infrastructure management services, AAA, digital testing, digital BPaaS, KPaaS and we have set it up as separate P/L units. Over a period of time, GROW will replace RUN. We have set optimization targets in RUN to ensure that GROW is funded well to build future lines of business for us. BUILD projects are capitalized and kept separately, as we are creating IPs, products and platforms and making a balanced investment,” he further added.  

Key financial highlights

• EBITDA for the quarter stands at Rs 3.4 Cr, primarily due to margin improvement and cost rationalization. The company has reported positive EBITDA after more than 4 quarters of operating loss
• Consolidated PAT for the quarter is near to break-even (-Rs 3.9 Cr) which is a significant QoQ improvement with reduction in losses by Rs 18.7 Cr
• The company reported net cash of Rs 73.4 Cr in as on 31st March 2022
• FY22 America Business has grown by 11.5% to Rs 377.7 Cr from Rs 338.7 Cr in FY21. Similarly, India business grown by 16.5% to Rs 209.7 Cr from Rs 180 Cr in FY21
• From a vertical perspective, the Information Technology vertical is a major contributor in total revenue with 35.9% revenue share while Banking & Financial Services (BFS) has 28.5% revenue share in total FY22 revenues 
• 36.3% of our business comes from top 20 clients and we have been successful in 100% retention of our existing clients in FY22
• 75.6% revenues in FY22 was contributed by Application-Automation-Analytics (AAA) line of business followed by Infrastructure Management Services (IMS) with 13.8% revenue share 

Key business updates 

• 3i Infotech’s has started experiencing the positive business growth in their CloudFirst business with Gross Margins of 20+%. Their NuRe cloud solutions has huge global and domestics opportunities for both cloud services as well as cognitive & edge computing
• The company’s cloud business, with its end-to-end solutions, continues to provide compelling value to its customers at most competitive benchmarks
• Platform solutions now offers C-Level intelligence services including enterprise risk management and decision-making intelligence

Over the last two quarters, the company has forged a string of contracts and deals across verticals and geographies. Some of the recent deals include - 3i Infotech’s US subsidiary announcing a strategic investment in Exium, a pioneer in 5G powered Secure Access Services Edge (SASE) solutions; a Digital BPS transformational deal with a leading insurance company in India for Rs 12 cr; an order worth Rs. 10.58 cr across industry verticals with companies including Vishal Mega Mart Private Limited, Dhani Loans and Services Limited (formerly India bulls Consumer Finance Limited), Amara Raja Batteries Ltd, Aavas Financiers Limited, Erulearning Solutions Private Limited and Rockman Industries Limited.

Headquartered in Mumbai, India, since inception in 1993, 3i Infotech has been committed to driving business value across multiple industry verticals. 3i Infotech, today, has emerged as a leading name in propelling the current wave of digital transformation initiatives, with deep domain expertise across BFSI, Healthcare, Manufacturing, Retail and Government sectors. The Company has over 5000 employees in 30 offices across 15 countries and over 1000+ clients in more than 50 countries across 4 continents. With a wide range of IT services, 3i Infotech has successfully transformed business operations of customers globally. The Company has a very strong foothold and client base in geographies like North America, India, Asia Pacific, Middle East and Africa, Kingdom of Saudi Arabia, and South Asia. 

Website: https://www.3i-infotech.com/ 

IIT Madras-Research backed Micro-Mobility EV Solutions Startup Pi Beam Electric Raises $1.7 Mn in Funding led by Inflection Point Ventures

EV ecosystem platform startup Pi Beam Electric raises $1.7mn in Pre-Series A round led by Inflection Point Ventures

• A Bengaluru-Chennai based vertically integrated EV ecosystem platform for last-mile logistics and commute
• The funds raised will be utilised for EV deployment platform development, expanding the team, scaling and extending their operations to multiple cities and develop products as well as brand and market them.
• IPV has so far invested over Rs. 384 Cr across 115+ deals.

India’s first vertically integrated EV ecosystem platform startup Pi Beam Electric has raised $1.7mn in a Pre-Series A round led by Inflection Point Ventures. 

The round also saw participation from prominent family offices including Sattva Group & Nanavati family, syndicates including Sincere Syndication and Conscience Multi-family Office. Industry stalwarts Mr. Arshad Sayyad (former India Head Fidelity Investments), Mr. Vijay Ratnaparke (CIO of Robert Bosch), Mr. Shaji Koshy (former SVP Royal Enfield) and Prof. Ashok Jhunjhunwala (Pioneer of Indian EV industry, Institute Prof IIT Madras & President IITM Research Park, IITM Incubation Cell and RTBI) also participated in this round apart from the existing investors. 

The fresh funds raised will be utilized for developing the deployment platform, expanding the team, scaling operations to multiple cities and developing new products.

Ankur Mittal, Co-Founder, Inflection Point Ventures says, “IPV has been closely watching the EV landscape taking shape in India and we have led many investments across the sectors right from EV to EV-infrastructure linked startups. Investment in Pi Beam is the continuation of our focus on the EV sector. They provide green micro-mobility EV solutions for logistics and commute with data driven insights which ensures reliability to any company which requires last mile delivery. As the adoption of EV grows, Pi Beam’s market will also see exponential growth. We are keenly interested in investing in such disruptive technologies.”

Pi Beam Electric, a vertically integrated EV as a service platform for logistics and commute applications was founded by Visakh Sasikumar & Manu Iyer. The startup had pivoted to build India’s leading V ecosystem platform with deep EV knowledge, gained by selling more than 1000+ EVs in the B2B market.

Visakh Sasikunar

Visakh Sasikumar, Founder & CEO, Pi Beam says, “We are disrupting EV as a service business model with an integrated EV ecosystem platform, which connects the dots to provide reliable and scalable services. With control over the EV products, their financing and their O&M, and our deep EV know-how we can seamlessly deploy EV-as-a-service for various applications. Currently we provide services to leading E-commerce companies, food delivery unicorns and last mile supply chain companies. We are really excited about the huge opportunity that lies in front of us thanks to the exponential growth in the EV market. We are delighted to have IPV as our lead investors. Their vast investor, CXO network will help us to scale up the business. It is commendable that they spend a lot of effort in evaluating the right start-ups for their investors to back."

Pi Beam is currently present in Bangalore and Chennai with 100+ EVs in the fleet. Expanding rapidly to Hyderabad, Mumbai and Delhi, they plan to increase the fleet to 2000 by next financial year. The startup has collaborated with IIT Madras for continuously integrating cutting edge EV technologies. By collaborating and partnering with all the major OEMs, new age EV technology companies, charging infra companies, Pi Beam is accelerating its vision of making “Everything Electric” in the true sense.