Panasonic Corporation, Panasonic Life Solutions India, and top seed stage venture financing firm 100X.VC worked together on this project. The 12 start-ups on the shortlist for the “Panasonic Ignition” Corporate Innovation accelerator programme were revealed by VC out of over 140 entries. Panasonic wants to support, advise, and invest in early- to mid-stage companies that are developing cutting-edge commercial energy management solutions.
More than 140 startups submitted applications for the programme, which was introduced earlier this year in October 2023 and was overseen by Panasonic Corporation’s Chief Transformation Officer, Mr. Kunio Gohara. A thorough screening procedure resulted in the shortlisting of 12 businesses.
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“We are thrilled to launch the ‘Panasonic Ignition’ program in collaboration with 100X.VC, marking a pivotal moment in driving innovation within the energy management sector,” said Mr. Manish Misra, the Chief Innovation Officer, at Panasonic Life Solutions India. “This initiative underscores our commitment to fostering groundbreaking technologies and solutions that address the evolving needs of commercial spaces while contributing to a sustainable future.”
For the next three months, these startups will take part in the “Panasonic Ignition” programme. Panasonic and the 100X.VC teams will provide them with all the help they need to finish their project, including financial resources, mentorship sessions, and advice. Panasonic will also provide challenges to the entrepreneurs as part of this engagement, which will be determined by periodical reviews. March 2024 will see the announcement of the ultimate winner.
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“It has been a rewarding experience working closely with the Panasonic Corporation teams, from both Japan and India. Due to joint efforts by both the teams, in a very short span of time, we were able to attract so many applications from high quality startups. We look forward to working with the shortlisted startups and contribute to their journey over the next 12-14 weeks” said Mr. Yagnesh Sanghrajka, Founder and CFO at 100X.VC.
Following is the list of the 12 promising startups:
1. SustLabs – Develops consumer IoT solutions for home energy monitoring.
2. MinionLabs – Develop a product for measuring individual energy consumption in buildings.
3. Clairco – Develops IoT-based smart air purification devices & space optimization.
4. Enlite – Provides an AI-enabled wireless building management system
5. Zodhya – Provider of energy optimization solutions for commercial spaces
6. Living Things – Provider of a smart control hub for air conditioners
7. Sensiable – Provider of an IoT-enabled workplace space management solution
8. Carbon Minus – Provider of cloud-based solutions for energy plant management
9. Nebeskie – Provider of a SaaS, AI & IoT-powered electricity management platform.
10. Quebeq Venture – Integrates a Virtual Power Plant with proprietary energy solutions
11. Blaze – Provider of IoT Gateway energy monitoring, and smart control system.
12. Cymbeline – Developer of industrial IoT with diverse hardware, middleware, analytics, and cloud.
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With the help of 100X.VC, the Panasonic India Innovation Centre (IIC), a division of Panasonic Life Solutions India (PLSIND), has created the “Panasonic Ignition” accelerator programme. This programme aims to provide investment, masterclass access, expert mentorship, and support regarding product strategy and growth to young entrepreneurs of emerging startups. The programme will also help these entrepreneurs build innovative technologies and products while addressing real-world challenges related to energy management in spatial infrastructures.
About Panasonic Group
On April 1, 2022, the Panasonic Group—a leader in the development of cutting-edge technologies and solutions for a variety of applications in the consumer electronics, housing, automotive, industry, communications, and energy sectors worldwide—switched to an operating company system. Panasonic Holdings Corporation functions as a holding company, with eight companies operating under it.
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About 100X.VC
The first SEBI Registered CAT-1 VC fund in India, 100X.VC uses ISAFE Notes to make investments in early-stage companies. To help 145 businesses raise an additional $75 million, 100X.VC has invested in them and provided mentorship since its July 2019 launch. The CVC/CI division of 100X.VC collaborates closely with corporations to support them in strategically investing in or acquiring innovative, disruptive early-stage startup concepts that have the potential to generate long-term value for the company and all of its stakeholders.
