Panasonic Selects 12 Startups as Part of Corporate Accelerator Program 

Panasonic Selects 12 Startups as Part of Corporate Accelerator Program 

Panasonic Life Solutions India (PLSIND) and Panasonic Corporation (PC) in collaboration with a leading seed stage venture capital (VC) – 100X.VC announced the shortlist of 12 start-ups from over 140 entries received for the ‘Panasonic Ignition’ Corporate Innovation accelerator program. Panasonic aims to mentor, guide, and fund early to mid-stage startups that are creating innovative solutions in the field of Energy Management for commercial spaces.

A total of over 140 startups applied for the program that was launched earlier this year in October 2023 under the guidance of Kunio Gohara, the Chief Transformation Officer of Panasonic Corporation. After an evaluation process, 12 startups were shortlisted. These startups will participate in the ‘Panasonic Ignition’ program over the next three months. They will receive comprehensive support from both Panasonic and the 100X.VC teams, in form of mentorship sessions, guidance, and financial resources to complete their project. As part of this engagement, Panasonic will also roll out challenges for the startups and based on regular reviews. The final winner will be announced in March 2024.

“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 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.”

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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 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.

The accelerator program ‘Panasonic Ignition’ has been designed by Panasonic India Innovation Centre (IIC), part of Panasonic Life Solutions India (PLSIND) to create a platform in collaboration with 100X.VC, where selected young founders of emerging startups, will receive investment, access to various masterclasses, expert mentorship, and support around product strategy and growth that would assist them towards building innovative technologies and products while solving real-life challenges related to energy management in spatial infrastructures.

100X.VC is India’s first SEBI Registered CAT-1 VC fund, which invests in early-stage startups through ISAFE Notes. Since its launch in July 2019, 100X.VC has invested in 145 startups and mentored them to enable them to further raise $75 mn. The CVC/CI arm of 100X.VC works closely with corporates and helps them in making strategic investments/ acquisitions in new disruptive ideas of early-stage startups that can add long-term value to the corporates and all its stakeholders.