Latest news with #IITMadras-incubated
The Hindu
7 hours ago
- Business
- The Hindu
IIT Madras-incubated Plenome Technologies raises ₹6.5 crore in seed funding
IIT Madras-incubated startup Plenome Technologies, which develops disruptive solutions for secure data management at scale, has raised ₹6.5 crore in seed funding from Indian and foreign investors. The investors include Ovington Capital Partners, a Luxembourg-based investment firm, which has taken on the mantle of lead investor; AADI, an UAE-based firm that specialises in trading and distribution of plant, machinery, and capital equipment; and Manish Gandhi, who has previously invested in iconic startups, ranging from ePlane and CynLr to GoStop, LegalKart, and Fermbox. Founded by IIT Madras faculty Prabhu Rajagopal, a Shanti Swarup Bhatnagar awardee, Plenome addresses the challenge of developing digital applications that can protect the privacy of users and security of records, while ensuring interoperability across organisations, geographies, and smooth operations at scale. The co-founders are: IIT Madras MS (Entrepreneurship) student Vijayaraja Rathinasamy, an embedded systems expert, and IIT Madras Graduate Anirudh Varna, a blockchain expert. The startup emerged from Mr. Rajagopal's research group on Automation and Data Engineering at IIT Madras' Center for Nondestructive Evaluation. Plenome's BlockTrack 'OraganEase solution' for managing sensitive organ donation databases is already being deployed in trial runs in partnership with the apex body for organ transplants in a South Indian State. Plenome is also pioneering a novel pay-per-use model for conducting remote elections in large organisations, using its record-setting blockchain-based 'BlockVote' software. This software was already successfully deployed for the IIT Madras student elections. Additionally, Plenome is conducting trial runs of 'Ashwin', a suite of AI-powered electronic data capture, record maintenance, and insight generation platforms in the dental specialisation within healthcare, and is seeking to extend this to eyecare, cosmetic, and fertility segments. Ashwin offers voice-enabled electronic data capture through input in several Indic and foreign languages. Prabhu Rajagopal, founder-chairman, Plenome Technologies, and faculty, Department of Mechanical Engineering, IIT Madras, said, 'Our work improves access to healthcare in remote locations while enabling interoperability and insight generation based on structured medical records. Our work on remote elections is very exciting, offering the possibility of voting through mobile devices from any location.' Vijayaraja Rathinasamy, co-founder of Plenome, said, 'At Plenome, we are driven by the conviction that technology should be purposeful and inclusive, reaching those at the margins and delivering outcomes that are tangible, equitable, and sustainable.' Anirudh Varna, co-founder of Plenome, added, 'By decentralising critical systems, from healthcare diagnostics to secure voting, we are putting power directly into people's hands. We are looking forward to scale our Ashwin and BlockVote platforms globally.'
Time of India
a day ago
- Business
- Time of India
IIT Madras-incubated Plenome bags Rs 6.5crore funding
Plenome founders Anirudh Varna, Prabhu Rajagopal and Vijayaraja Rathinasamy and others. CHENNAI: IIT Madras-incubated Plenome Technologies, a blockchain-based data management startup, has raised a seed funding of Rs 6.5 crore from Ovington Capital Partners, a Luxembourg-based investment firm, UAE-based AADI, and veteran investor Manish Gandhi. Founded by IIT Madras faculty and serial entrepreneur Prabhu Rajagopal, along with Vijayaraja Rathinasamy and Anirudh Varna, it develops blockchain-based applications to protect users' privacy and security of records. Speaking to TOI, Rajagopal said the startup would initially focus on healthcare data, targeting customers in the US, the UK and the UAE market, where the regulatory environment is mature. 'Enterprises have started to increasingly focus on data security and cybersecurity after major security breaches. With the adoption of AI, there are more risks such as data poisoning, where AI models are deliberately fed with misinformation,' he said. Plenome plans to work with hospitals and clinics directly as well as with healthcare software platforms. It is developing an AI-SaaS platform for structured record creation and insight generation. The startup is conducting trial runs for an AI-based electronic data capture, record maintenance and insight generation platforms in the dental specialisation within healthcare, Rajagopal said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This Could Be the Best Time to Trade Gold in 5 Years IC Markets Learn More Undo Emerging from the research group on automation and data engineering at IIT-M, Plenome develops blockchain-based solutions for applications in safety-critical fields. It is based on a patented architecture. Plenome is also developing a distributed artificial intelligence (AI) protocol, where multiple agents work together to solve a problem. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Mint
17-06-2025
- Business
- Mint
Sarvam, India's most-funded gen-AI startup, takes to the Big Tech playbook
Shouvik Das Amid government subsidies, Sarvam will focus on a full-stack AI approach to take its business to clients; more announcements are expected from the startup in the coming weeks. A person passes a billboard for an Artificial Intelligence company advertising AI employees on a London underground station platform in London, Britain, June 5, 2025. REUTERS/Chris J. Ratcliffe Gift this article Bengaluru: On 26 April, IIT Madras-incubated artificial intelligence startup, Sarvam, became the first to receive subsidized access to processing chips from the Union government to build Indian AI models. Now, after facing conjecture and criticism over government support and the startup's innovation route, its founder and investors believe that the way forward for India's most well-funded AI startup is to take a leaf out of the Big Tech playbook. Bengaluru: On 26 April, IIT Madras-incubated artificial intelligence startup, Sarvam, became the first to receive subsidized access to processing chips from the Union government to build Indian AI models. Now, after facing conjecture and criticism over government support and the startup's innovation route, its founder and investors believe that the way forward for India's most well-funded AI startup is to take a leaf out of the Big Tech playbook. 'We're not just a model builder," Pratyush Kumar, co-founder of Sarvam, told Mint on the sidelines of a gathering in Bengaluru last week. 'We have an application layer too, and we want to be focused on both (the model and the layer)." The startup has faced criticism after it last month released its AI model—Sarvam-M. While some hailed the 24-billion-parameter model for its native support for 10 Indian languages, others criticised it for not being a foundational model, but being based on a foundational model made by a French AI startup, Mistral. Also Read: How tech is transforming the Indian car market Kumar and his investors, however, do not believe that the criticism has been fair. 'It's hard to quantify how much of our efforts we are devoting to foundational models versus building applications—the models will be key because this will give us the foundational capability. The government funding is just incidental, but it will not define the way forward for Sarvam. Eventually, we're building a full-stack, deep-tech firm out of India," he said. To be sure, a foundational model is an algorithm built by a company from scratch, using its own data and AI infrastructure. Doing so requires significantly high amounts of capital—US Big Tech firms are currently spending billions on them—but also gives companies the advantage of having proprietary technology without being reliant on anyone else. Monetising tech An application layer, meanwhile, is key to ensuring that the models can be implemented within businesses, thus earning ventures commercial revenue. While this is secondary, it is key to monetisation. Big Tech firms, such as Google, Microsoft, and OpenAI, are making what Kumar cited above as 'full-stack" services—having their own models and applications to sell to enterprises. It is this that Kumar highlighted as Sarvam's key area of focus, and not its government backing for subsidised access to processing chips—which account for most of an AI firm's operating expenditure. 'The government's Graphics Processing Unit (GPU) grant helps, but it is only an episode for us. This is not what will fully define our way forward. We're continuing to build and innovate in various sectors of AI, which will create value by leveraging the support that the government has extended. We're building applications for Indian clients, and not just models or applications to sell abroad," Kumar said. Among its peers, investors and industry experts believe that Sarvam has a clear headstart. While Olacabs founder Bhavish Aggarwal's AI pivot, Krutrim, claimed to have become 'India's first AI unicorn" in January last year, the venture doesn't have much to show yet. 'Sarvam always had an aspiration of building population-scale AI. The goal is to scale up AI innovation to the entire Indian population, not to have the largest foundation model," said Harshjit Sethi, managing director at venture capital firm Peak XV. Peak XV led Sarvam's seed funding round, and also co-led the startup's $41-million series-A funding round in December 2023. The venture has raised $53 million in total funding so far, though Kumar said that it will 'definitely need a larger funding round" in the coming months. Also Read: Eye in the sky: India to set up satellites to spy on satellites Peak XV's Sethi underlined that the criticisms of Sarvam may not be accurate. 'Sarvam is already working with some of the largest Indian companies, and has already reached tens of millions of individuals who have used Sarvam's AI applications and models. The goal is bearing fruit, and we're seeing their impact already." Use of funds As a result, both Kumar and Sethi said that the public expectation that Sarvam is only building a 'sovereign' AI model for public utilities and government applications is misplaced. 'The government grant comes from public taxpayers' money, but the one thing to clarify is that this is not a grant, the Centre is making an investment in the company in exchange for a minority equity stake. As a shareholder, the return to the taxpayer will come from the appreciation of this equity stake, in addition to the strategic imperative that we, as India, should have our own AI models from scratch," Sethi said. Kashyap Kompella, author and AI consultant to large corporations, concurred. 'The entire criticism that Sarvam has faced is that it has the government's backing from public taxpayers' money, but its mission statement is not narrowly focused on building only India's sovereign AI. That comes across as unfair criticism because innovation cannot be restricted only to one area. Entities like Sarvam must therefore focus on gaps in the ecosystem that are not addressed by competitors such as Big Tech firms," he said. Also Read: Apple quietly opens AI gates to developers at WWDC 2025 To be sure, FY25 was the first full fiscal year for Sarvam as a commercial entity earning early-stage revenue from clients. The company is yet to file its financials for the previous fiscal. For now, Sethi said the startup is likely to make more product announcements 'in the coming weeks." 'There are no specific verticals that we're focusing on, and we're looking at technology and services quite horizontally, just like Big Tech ventures. Eventually, we'll work with partners in sectors to build domain-specific capabilities in AI applications and services," Kumar added. Topics You May Be Interested In
Time of India
26-05-2025
- Automotive
- Time of India
EV charger manufacturing gets turbo boost in Tamil Nadu
Tamil Nadu's electronic and electrical production ecosystem is diversifying into EV charger manufacturing . Top players such as Delta India and Eaton are looking at the entire range of chargers from small 60 kW to 350 kW as the demand switches towards fast-charging and multiple-charging guns for both big and small EVs. While India's 30,000-strong EV charging network offers huge opportunities, manufacturers are looking to export too. 'We are looking at getting into 60 kW and the 120 kW chargers very soon. We have design work going on because we want to come up with unique features that can be sold both in India and outside,' says Syed Sajjadh Ali, MD-electrical sector, India, Eaton. Eaton, he adds, would come out with its own EV chargers by the end this year. 'This will be the 60 to 120 kW segment, followed by the 240-kW charger by the beginning of next year,' says Ali. Even those well-entrenched in the EV charger business are looking to expand both product line and production as local demand rises. 'We initiated EV charger development early on in 2017-18. Initially, the demand was for lower capacity solutions, such as AC chargers and the Bharat 30-kilowatt chargers,' says Niranjan Nayak, MD, Delta Electronics India . Since then, the market has been shifting towards high kW products. 'While 60 kW was our largest DC offering until last year, we have now launched a 180-kW charger and are ready with a 350-kW product too in anticipation of market growth,' says Nayak. India needs 16,000 crore in capex to meet public EV charging demand in five years, says the FICCI EV Public Charging Infrastructure Roadmap 2030 report. 'People don't want to wait for longer while they are travelling so higher kW products are in demand,' says Nayak. EV charger makers are also offering multiple-gun products so more than one vehicle can be charged simultaneously. 'The more you increase the capacity, 350 kW or 500 kW in future, there can be two or three guns to simultaneously charge the vehicles. This is the second requirement which is coming,' he adds. What's more, the same chargers can be used for e-buses as well as e-cars. TN is one of the front-runners in both EV and EV infrastructure related manufacturing. The state comes in among the top five for EV charging stations set up by oil marketing companies – UP has 2,561 stations, Maharashtra 1,595, Karnataka 1,516, Rajasthan 1,482, and Tamil Nadu 1,448. It has also, in recent years, seen a surge in EV charger manufacturing from IIT Madras-incubated startups such as Plugzmart to the newly announced JV between Epic Energy and Fenfeo Automotive for a factory in Coimbatore. The production push is understandable given how uncertain global supply chains have become. Delta India for instance, says Nayak, manufactures its own core rectifier modules. 'Within our R&D division in India, we have a team of more than 50 engineers focused on EV charging, which collaborates and shares platforms with our global R&D efforts,' he adds. On the manufacturing front, the company has established dedicated production lines at its Krishnagiri plant, 'which we will be expanding'. Its capacity right now: 1,000 a month but 'based on need we can increase', says Nayak. The charger charge is a natural diversification for Tamil Nadu's EV industry. The state already accounts for 70% of India's two-wheeler EV production, with a current manufacturing capacity of 10 million units. It has been attracting big ticket EV investments too with 2024 seeing $2 billion pumped in by Vietnamese EV maker VinFast, a 9,000 crore facility by Tata Motors, the 20,000 crore expansion by Hyundai and the 2,000 crore plans of Stellantis.
Time of India
25-05-2025
- Automotive
- Time of India
EV charger manufacturing gets turbo boost
Tamil Nadu's electronic and electrical production ecosystem is diversifying into EV charger manufacturing. Top players such as Delta India and Eaton are looking at the entire range of chargers from small 60 kW to 350 kW as the demand switches towards fast-charging and multiple-charging guns for both big and small EVs. While India's 30,000-strong EV charging network offers huge opportunities, manufacturers are looking to export too. "We are looking at getting into 60 kW and the 120 kW chargers very soon. We have design work going on because we want to come up with unique features that can be sold both in India and outside," says Syed Sajjadh Ali, MD-electrical sector, India, Eaton. Eaton, he adds, would come out with its own EV chargers by the end this year. "This will be the 60 to 120 kW segment, followed by the 240-kW charger by the beginning of next year," says Ali. Even those well-entrenched in the EV charger business are looking to expand both product line and production as local demand rises. "We initiated EV charger development early on in 2017-18. Initially, the demand was for lower capacity solutions, such as AC chargers and the Bharat 30-kilowatt chargers," says Niranjan Nayak, MD, Delta Electronics India. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like [Click Here] 2025 Top Trending local enterprise accounting software Esseps Learn More Undo Since then, the market has been shifting towards high kW products. "While 60 kW was our largest DC offering until last year, we have now launched a 180-kW charger and are ready with a 350-kW product too in anticipation of market growth," says Nayak. India needs 16,000 crore in capex to meet public EV charging demand in five years, says the FICCI EV Public Charging Infrastructure Roadmap 2030 report. "People don't want to wait for longer while they are travelling so higher kW products are in demand," says Nayak. EV charger makers are also offering multiple-gun products so more than one vehicle can be charged simultaneously. "The more you increase the capacity, 350 kW or 500 kW in future, there can be two or three guns to simultaneously charge the vehicles. This is the second requirement which is coming," he adds. What's more, the same chargers can be used for e-buses as well as e-cars. TN is one of the front-runners in both EV and EV infrastructure related manufacturing. The state comes in among the top five for EV charging stations set up by oil marketing companies – UP has 2,561 stations, Maharashtra 1,595, Karnataka 1,516, Rajasthan 1,482, and Tamil Nadu 1,448. It has also, in recent years, seen a surge in EV charger manufacturing from IIT Madras-incubated startups such as Plugzmart to the newly announced JV between Epic Energy and Fenfeo Automotive for a factory in Coimbatore. The production push is understandable given how uncertain global supply chains have become. Delta India for instance, says Nayak, manufactures its own core rectifier modules. "Within our R&D division in India, we have a team of more than 50 engineers focused on EV charging, which collaborates and shares platforms with our global R&D efforts," he adds. On the manufacturing front, the company has established dedicated production lines at its Krishnagiri plant, "which we will be expanding". Its capacity right now: 1,000 a month but "based on need we can increase", says Nayak. The charger charge is a natural diversification for Tamil Nadu's EV industry. The state already accounts for 70% of India's two-wheeler EV production, with a current manufacturing capacity of 10 million units. It has been attracting big ticket EV investments too with 2024 seeing $2 billion pumped in by Vietnamese EV maker VinFast, a 9,000 crore facility by Tata Motors, the 20,000 crore expansion by Hyundai and the 2,000 crore plans of Stellantis.
