Panasonic Life Solutions India (PLSIND) and Panasonic Corporation (PC) have unveiled the 12 startups selected for the Panasonic Ignition accelerator programme, a collaborative initiative with micro VC fund 100X.VC. Launched in October, the programme aims to empower young entrepreneurs by providing investment, masterclasses, expert mentorship, product strategy, and growth plans.
Over the next three months, the chosen startups will benefit from comprehensive support from both Panasonic and 100X.VC teams, including financial resources, mentorship sessions, and guidance to advance their projects.
Manish Misra, Chief Innovation Officer at Panasonic Life Solutions India, expressed the initiative’s commitment to fostering groundbreaking technologies and solutions that address the evolving needs of commercial spaces while contributing to a sustainable future.
The selected startups and their focus areas are as follows:
- SustLabs: Consumer IoT solutions for home energy monitoring (Mumbai)
- MinionLabs: Product for measuring individual energy consumption in buildings (Bengaluru)
- Clairco: IoT-based smart air purification and space optimization devices (Bengaluru)
- Enlite: AI-enabled wireless building management system (Mumbai)
- Zodhya: Energy optimization solutions for commercial spaces (Hyderabad)
- Living Things: Smart control hubs for air conditioners (Mumbai)
- Sensiable: IoT-enabled workplace space management solution (Bengaluru)
- Carbon Minus: Cloud-based solutions for energy plant management (Pune)
- Nebeskie: SaaS, AI & IoT-powered electricity management platform (Chennai)
- Quebeq Venture: Integration of a virtual power plant with proprietary energy solutions (Chennai)
- Blaze: Integration of smart sensor-based devices and IoT for efficient device management (Hyderabad)
- Cymbeline: Industrial IoT development with diverse hardware, middleware, analytics, and cloud (Bengaluru)
This initiative aligns with a broader trend of companies and VC firms launching accelerator and incubation programmes for startups. Notably, game development major Krafton introduced its incubator programme called KRAFTON India Gaming Incubator, while GVFL and Games24x7 announced accelerator programmes earlier this month.
However, the funding landscape for Indian startups has experienced a shift, with Inc42’s Indian Tech Startup Funding Report Q3 2023 revealing a funding total of just over $7 billion for the first three quarters, compared to about $22 billion during the corresponding quarters of 2022.
