Latest news with #Napino
Yahoo
18-06-2025
- Business
- Yahoo
Napino & Teksun Unveil Rapidise with $5M Seed Round -- Disrupting Traditional ODM for AIoT Product Development and Electronics Manufacturing
SAN FRANCISCO and NEW DELHI, June 18, 2025 /PRNewswire/ -- Napino Digital Solutions Pvt. Ltd. (NDS) and Teksun Mircosys Pvt. Ltd. have announced the launch of Rapidise Technologies Pvt. Ltd. (RTPL) to offer end-to-end product engineering and global electronics manufacturing for smart AI-enabled connected devices in automotive, healthcare, industrial, and consumer tech sectors. Rapidise is built to serve as a one-stop ODM partner for startups, SMBs and enterprises designing intelligent, next-gen AI-powered products — combining Napino's scalable manufacturing based in India with Teksun's deep domain expertise in embedded systems, AI, and IoT. "Rapidise represents the strategic convergence of best-in-class product engineering with scalable manufacturing," said Vaibhav Raheja, Joint Managing Director of Napino Group and Board of Director at Rapidise. Strategic Vertical Integration Partnership for Scale Rapidise has already delivered over a Million units of Smart IoT Electronics devices and holds a USD 81M+ booked orders across North America, Europe, Middle East and APAC. Rapidise ODM offering spans product design- R&D, prototyping, certification, manufacturing, and product lifecycle management — delivering seamless execution from idea to market. "Our vision is to be a world-leading ODM player, recognized for our innovation, agility, and commitment to empowering intelligent, high-performance solutions that enable our clients to lead in their markets," said Brijesh Kamani, Founder and CEO of Rapidise. "Our strategic vertical integration of Engineering Services and Manufacturing services under the same roof enables tremendous growth trajectory, ready to power the next generation of AI-enabled IoT products." Global Delivery Backed by Indian Manufacturing and Japanese Technology Headquartered in India, Rapidise operates with fully automated advanced (Japanese) SMT lines (Class 7 Clean room), Camera Module Manufacturing lines (Class 6 Clean room), AI powered PCB Aseembly lines, mechanical tooling, and full box build assembly infrastructure to support high complex electronics product manufacturing like IoT modules, Camera Modules, Dash Cameras, 5G enabled Surveillance cameras, Body Worn Cameras, Asset Trackers, IoT Gateways, Automotive Edge AI Box, Infotainment Devices, Smart TVs, Mobile phones etc. Faster Go-To-Market with ODM Marketplace With over 300 R&D engineers and a robust portfolio of modular, production-ready platforms (Rapidise RISE IoT Modules), Rapidise accelerates the development of custom IoT, AI, and connected solutions — reducing engineering risk and enabling rapid scaling of Product innovations. "At Rapidise, we're transforming how products are built — from concept to mass production," said Ashish Chinthal, Chief Business Officer at Rapidise. "Our self-service platform delivers instant quotes for engineering and electronics manufacturing, enabling on-demand ODM services that are faster, more accessible, and fully transparent — helping customers accelerate their time-to-market." Rapidise Snapshot HQ in India with global presence (US, EU, APAC) 300+ engineers in electronics hardware, embedded software, cloud, AI, and manufacturing Strategic partnerships with Qualcomm to jointly build futuristic AI ready products Turnkey delivery: Design → Prototype → Certification → Manufacture → Support Explore collaboration opportunities at Photo: View original content to download multimedia: Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Mint
22-05-2025
- Automotive
- Mint
PLI-Auto adds three more firms to roster
New Delhi: The Centre has approved products made by three more companies—Pinnacle Mobility, Varroc Engineering, and Napino Auto and Electronics—under its flagship production-linked incentive (PLI) scheme for the auto sector, according to data from the government's PLI-Auto portal. he move comes despite limited payouts so far and a sharp cut in the scheme's disbursal target for FY26. According to the portal, EKA Mobility, a subsidiary of Pinnacle Mobility, was approved on 20 May for an electric bus model. Varroc got the green light for seven components on 28 April, while Napino Auto was cleared for an engine management system on 9 May. 'This recognizes EKA's compliance with the stringent eligibility requirements laid out under the PLI scheme for advanced and indigenized electric vehicle platforms,' the company said in a 21 May statement. Varroc and Napino did not respond to Mint's queries. The fresh approvals mark a renewed push to expand the ₹ 25,938 crore PLI-Auto scheme beyond legacy players. But only four companies have received payouts so far, and the budget estimate for FY26 has been cut to ₹ 336 crore from ₹ 3,150 crore last year. These approvals also reflect the growing familiarity with the scheme's requirements, according to Ashim Sharma, senior partner and Business Unit head, Nomura Research Institute Solutions and Consulting. 'Additionally, this also shows that all stakeholders have now completed the learning curve that comes with schemes such as the PLI-Auto scheme. It is likely that companies are now able to ensure that their documentation and other requirements are more 'first time right',' said Sharma. Notified in 2021, the PLI-Auto scheme aims to boost domestic manufacturing of advanced automotive technologies and position India as a global electric vehicle (EV) hub. Of the 115 applicants, 82 were shortlisted as 'Champion OEMs' and 'Component Champions' in early 2022, including Pinnacle, Varroc and Napino. The government began approving individual products under the scheme in June 2023, following the initial shortlisting of firms. But shortlisting is only the first step. To claim incentives, companies must secure product-level approvals from designated automotive testing agencies, based on compliance with technology-readiness and domestic value addition norms. If a vehicle or component is approved by these agencies, the company receives a certificate making the model eligible for incentives under the scheme. So far, 101 product models across 16 companies have received such approval. Yet, only Tata Motors, Mahindra & Mahindra, Ola Electric, and Toyota Kirloskar Auto Parts have received actual payouts. Tata Motors and Mahindra were granted about ₹ 246 crore in January 2025, followed by ₹ 73.74 crore to Ola Electric in March. The ministry of heavy industries said on 26 March that Toyota Kirloskar Auto Parts had also received disbursals, but did not disclose the amount. As Mint reported on 28 February, policy uncertainty has weighed on EV sales, in turn delaying PLI disbursals, which are contingent on post-certification sales. The scheme provides incentives on incremental sales achieved after certification, with claims submitted the following fiscal. For instance, FY25 sales would be eligible for claims filed in FY26. Certification requires proof of at least 50% localisation in approved models. The recent acceleration in PLI-Auto approvals marks a calibrated push towards reshaping India's role in the global EV and auto component value chain, said Randheer Singh, former director with the Niti Aayog. "It reflects the government's intent to expand the beneficiary base beyond legacy OEMs to include next-gen mobility innovators and strategic component makers, a signal that India wants to hedge against global supply disruptions and diversify its manufacturing bets," Singh said. The scheme caters to both incumbent auto firms and new entrants from other sectors. OEMs must have annual revenues of at least ₹ 10,000 crore and invest ₹ 3,000 crore in fixed assets. For component makers, the thresholds are ₹ 500 crore in revenue and ₹ 150 crore in investment. New entrants from outside the auto sector need a global net worth of ₹ 1,000 crore and must commit investment over five years. "Beyond certification, automotive testing agencies are becoming gatekeepers of technology readiness and enablers of deep localisation. Their role must now evolve from compliance monitoring to innovation facilitation, co-developing standards with industry and fast-tracking advanced prototypes," said Singh. EKA Mobility, which recently secured approval under the scheme, has an order book of over 3,500 electric commercial vehicles, including trucks, buses and light commercial vehicles. It operates a manufacturing plant in Chakan, near Pune. Founder and chairperson Sudhir Mehta has reportedly said the company aims to produce 10,000 electric buses annually by FY27. In FY26, the auto component industry's revenues are likely to grow 8-10%, compared to the highs of approximately 14% in FY24, said ratings agency Icra in a February 2025 estimation. The ratings agency also projected the Indian passenger vehicle industry volumes to grow by 4-7% in FY26, a pickup from the muted 0-2% increase seen in FY25.
