Tag: zoho

The investments are part of its ongoing efforts to build deep-tech know-how and manufacturing capabilities in India….reports Asian Lite News

Cloud software major Zoho on Saturday said it has invested an undisclosed amount in manufacturing startups Karuvi and Yali Aerospace which would create jobs in smaller towns and villages. 

The investments, said the company, are part of its ongoing efforts to build deep-tech know-how and manufacturing capabilities in India.

“Manufacturing and technology capabilities are critical to a nation’s economic prosperity. For our country to gain in this area, conscious attention to building expertise that is currently scarce becomes necessary,” said Sridhar Vembu, CEO and Co-founder, Zoho.

“Karuvi and Yali are startups that are not only innovating in their respective fields but are also creating jobs and bringing technical skillsets to smaller towns and villages, which aligns with our philosophy,” Vembu added.

Established in 2022, Karuvi is a mechatronics startup that has launched 10 tools ranging from drills and power saws to angle grinders.

The company, currently established in Chennai, plans to open a manufacturing unit in Tenkasi this year.

The Karuvi products are manufactured with around 95 per cent locally sourced components.

“We will be adding more tools to our portfolio and plan to have at least 30 products by the end of 2025. We are also working to create a network of suppliers so that we can source all components locally,” said MSD Prasad, CEO, Karuvi.

Yali Aerospace is an aerospace startup based out of Thanjavur in Tamil Nadu.

Their current model can deliver emergency medical supplies, covering over 300 kilometres in 120 minutes.

“We are in talks with the Directorate General of Civil Aviation (DGCA) to get approvals to start a pilot project to create a network between hospitals, especially in the hills where transportation is a challenge,” said Dinesh Baluraj, CEO and Founder, Yali Aerospace.

Meanwhile, funding in the Indian startup ecosystem continued unabated this week despite volatility in stock markets over weak global cues.

At least 39 startups in the country secured more than $387 million, which included 13 growth-stage deals and 20 early-stage deals.

Within the growth-stage deals, 13 startups raised $309.7 million in funding, reports Entrackr.

Bengaluru-based startups led the tally with 15 deals, followed by Delhi-NCR, Mumbai and Hyderabad.

Deep-tech startup SEDEMAC raised $100 million which will be used to build a new manufacturing plant and expand its presence in India, the US and the EU. SEDEMAC builds auto parts and battery management systems.

While Infra.Market raised $50 million from MARS Unicorn Fund, electric vehicle company Ather Energy secured $34.5 million in debt and equity funding.

Founded in 2016, Infra.Market sells construction materials, infrastructure goods and technical equipment.

Another EV company Euler Motors closed its Series C funding round, securing $23.9 million.

Zypp Electric also raised $15 million this week to expand the company’s fleet from 21,000 to 2,00,000 electric scooters.

Last week, 24 Indian startups raised $444 million in funding, including five growth-stage deals.

ALSO READ: IBC Transforms India’s Debtor-Creditor Dynamics

Vembu said that people must respect farmers, as well as take care of soil and all its microorganisms….reports Asian Lite News

Zoho CEO Sridhar Vembu, on Saturday, said that it is important to revere farmers and connect back with nature.

In a post on X.com, Vembu said that people must respect farmers, as well as take care of soil and all its microorganisms.

The CEO of the global software-as-a-service (SaaS) company said this amid reports that Singapore’s food regulator has recalled Indian manufacturer Everest’s fish curry masala as it showed high levels of the pesticide ethylene oxide — a Group-1 carcinogen.

“Arsenic in our rice, pesticides in our spices … the damage of industrialised agriculture accumulates,” Vembu said.

“If we don’t respect the farmer, if we don’t take care of the soil and all its microorganisms, if we don’t take care of ponds or lakes and instead keep drilling deeper and deeper for (arsenic-laden) water, we will destroy ourselves as a species.”

“We have to revere the people who grow our food so they in turn treat soil and water with reverence. We have to connect back with nature,” he added.

Meanwhile, Hong Kong’s food regulator also found the cancer-causing ingredient in products of MDH, the famous spice brand in India.

It found that the MDH’s Madras Curry Powder, Sambhar Masala Mixed Masala Powder, and Curry Powder Mixed Masala Powder contained pesticide ethylene oxide.

According to a statement from the Singapore Food Agency (SFA), ethylene oxide is not fit for consumption, but is “used to fumigate agricultural products to prevent microbial contamination.”

“Members of the public should not consume the affected products. The trade should also stop using or selling the affected products immediately if they possess any of them,” said the Centre for Food Safety, Hong Kong’s food regulatory authority.

Meanwhile, Sridhar Vembu said on Wednesday that they have created first-of-its-kind power tools that are ready for commercial production.

Called ‘Karuvi’ (the Tamil word for instrument or tool), the hand-held tools will help create more rural jobs in the country.

“A few years ago, during the pandemic, a Zoho customer and fan, Abdul Gafoor, who owns ‘Mr Light Global’, a major own-brand distributor of electrical and electronics products in the Middle-East (and now in India), came to see me in Tenkasi with a box full of hand held tools from his company,” Vembu posted on X social media platform.

Gafoor told the Zoho founder to make these products and then, he would distribute them.

“I said, we know nothing about it. He said this could create rural jobs. That is how he hooked me,” said Vembu.

The software company took up the challenge and set up a small engineering team almost two years ago.

A lot of designs and redesigns later, Zoho now has built a suite of tools ready for commercial production.

“We are trying some innovative ideas in the factory being built in Tenkasi. A new adventure begins. Thank you Mr Gafoor for pushing me on this! Thank you Cibi Anand for suggesting the name,” Vembu added.

An X follower commented that he was looking to populate the “rural maker-space with power tools from Stanley”.

“But now, it’s going to be ‘Karuvi’ all the way, looking forward to getting every product you have in production,” he posted.

ALSO READ: realme Set to Shake up Market

According to Sridhar Vembu, this is the time to invest in the country, which is set to become a global hub for supply chains across industries…reports Asian Lite News

Sridhar Vembu, Founder and CEO of leading cloud software provider Zoho, said on Monday that this is the best time to invest in India for young entrepreneurs from all across the world.

The sense of optimism is real and India is the most dynamic large economy in the world, “poised for decades of solid growth”, Vembu posted on X (formerly Twitter).

“I have been speaking at industry bodies, large company meets, colleges and various other forums in many parts of India,” he wrote.

“I also hear from a lot of Indians living abroad who want to return to India. Just yesterday I met a FAANG (Facebook, Apple, Amazon, Netflix, and Google) engineer who plans to return to rural India”.

According to him, this is the time to invest in the country, which is set to become a global hub for supply chains across industries.

“We are investing heavily both within Zoho as well by backing deep R&D driven companies similar to Zoho in outlook.

“Our rule of thumb is simple: if some technology is not yet being developed in India, we are interested in people that are committed to solving that problem, by creating and nurturing the talent that will achieve mastery in that domain,” Vembu explained.

A follower said: “I left my job in Germany and I am happy to report that I am returning to India this month, to be with my people, not sure what I want to do next, hopefully I will be able to contribute in my own way”.

Vembu replied: “Best wishes. Welcome back!”

He added that India is now recognised as a legitimate rising power under the visionary leadership of Prime Minister Narendra Modi, and the country is no more treated as a “charity case to be pushed around”.

In a post on X, Vembu mentioned why it is important to vote carefully in the upcoming election.

“For so long, our country simply got used to politicians in power amassing wealth. For the last 10 years, we have a Prime Minister who not even opponents can accuse of personal corruption. Likewise with all his cabinet colleagues,” said Zoho founder.

He further said that the country has seen progress on several fronts, like railways, roads, airports, factories, Swachh Bharat Mission and so on.

“Going around India, I feel the sense of optimism that arises from seeing things work. For a 55 year old Indian like me, that is refreshing, and the private sector is also very energised.

“I am personally energised to work harder in R&D after seeing this dynamism”.

Vembu said that India is now recognised as a legitimate rising power treated with respect and not as a “charity case to be pushed around”.

“And we don’t get ‘hyphenated’ with our neighbours. I support our Prime Minister for this reason. Let’s vote carefully,” he added.

ALSO READ: Markets End Dramatic Week with Impressive Gains