Co-Founder of Infosys Invests $7.5 million in Auto-Components Start-Up Sedemac
Published On Mar 28, 2016
Nandan Nilekani, the co-founder of Infosys, is funding a start-up in the auto-parts space known as Sedemac Mechatronics. Based in Mumbai, the budding firm has grabbed a whopping 7.5 million USD from the towering Indian tech giant.
“Sedemac is a great example of tech innovation from India which can have a transformational impact,” said Mr Nilekani. The investor plans to capitalize on a ripe market condition in India, and further use this to pivot his position in other markets such as those of China and America.
Sedemac is involved in the auto-parts business, building controls and components for small engines. “What started as a small lab-based enterprise has now grown into a company that sells state-of-the-art, technology-intensive powertrain control products to major companies,” commented Shashikanth Suryanarayanan, founder of the company.
The company has the privilege of serving major names in the business space, including Tata Motors, the Mahindra Group, Ashok Leyland, TVS Motors and others.
At present, the auto industry is facing a revolution both abroad and at home, with new technological trends slowly being incorporated in the lives of drivers and passengers. “Overall we see about 25-30 million vehicles over the next 3-4 year utilizing these products. Where Sedemac goes from here is that it will continue to try and build its story to create its position as a leader for controls for small powertrains,” said Suryanarayanan.
Sedemac is the eight venture supported by Mr Nilekani, who has actively been supporting emerging companies that reach out with innovative new trends. Sedemac was founded in 2008 by Suryanarayanan, who had previously worked as a mechanical engineering professor in IIT, along with a group of his fellow IITians. Nexus Venture Partners and India Innovation Fund are the two other existing firms who have invested in Sedemac.
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