·         Ignite winners – Enlite and Clairco will have the opportunity to receive strategic funding

·         Ignite andAccelerateWinners to work with Panasonic to jointly transform Energy Management Solution for commercial spaces

Panasonic Life Solutions India (PLSIND), a leading diversified technology company, today announced Enlite and Clairco as the winners of its first cohort of Panasonic Ignition program. Enlite focusing onAI-enabled wireless building management system and Clairco that developsIoT-based smart air purification devices & space optimization solutions will receive strategic funding and an opportunity to work with Panasonic business teams for development and implementation. Ignitionprogramin partnership with 100x.VC is a corporate innovation initiative that was introduced last year todevelop solutionsfor real-life challenges focused aroundEnergy Management Systems for Commercial Spaces.The two Ignition winners will receive Corporate Venture Capital (CVC) funding and business collaborations, while the four Accelerate winners – Sustlabs, Quebec Ventures, Sensiable and Blaze will get an opportunity forbusiness collaborations and get to implement solutionsin partnership with Panasonic companies.

The 12 start-ups who were shortlisted last year were  SustLabs, MinionLabs, Clairco, Enlite,Zodhya,Living Things, Sensiable, Carbon Minus, Nebeskie,Quebeq Ventures, Blaze andCymbeline. They pitched their ideas, GTM strategy, commercial plans today to a panel of judges from Panasonic and 100X.VC

Mr. Manish Sharma, Chairman, Panasonic Life Solutions India & South Asia, “India has emerged as the world's third largest startup ecosystem with over 1.25 lakh startups and 110 unicorns and Panasonic is looking forward to be part of this journey through our initiatives like Ignition.Panasonic established India Innovation Centre (IIC) in 2017 with an initial investment of Rs 240 crores.Theobjective of IIC is to drive tech-based innovation and deliver growth for business.Today, we’repleased to state that the investments are bearing fruits. Miraie– Panasonic’s IoT& AI enabled platform, Miraie Profactory, India’s first Matter-enabled RACsare all a result of timely innovative interventions driven through IndiaInnovation Centre. And I am confident that this strategic endeavour undertaken through the Ignition program will address the larger issue of energy management for commercial spaces.”

Expressing his enthusiasm on the program's successMr. Kunio Gohara, Chief Transformation Officer (CTRO) and Head of the CVC office, Panasonic Corporation said, “Panasonic Kurashi Visionary Fund (PKVF)was established by the Corporation to tackle social and global problems of the world, aimed atenriching, and transforming people's lives.Panasonic is committed to investing a total of Yen 8 billion (~ INR 450 cr)which will be invested across in the mid to long term, across startupsin Japan, Europe and India. It is exciting to meet the young,talented Indian start-ups and witness the innovation first-hand. They are leveraging some of the most advanced new-age technologies in the field of AI, IoT, data analytics to name a few, to solve complex energy management issues. Ignition program in India will definitely set new benchmarks for the world, encouraging start-ups to drive sustainable economic growth.”

Sharing his experience Mr. Manish Misra, Chief Innovation Officer,Panasonic Life Solutions India, said, “Innovation is at the heart of solving customer issues. The ideas shared byIgnite award winners Enlite and Claircowere not only innovative but also unique to provide significant differentiation for B2B customers. We look forward to collaborating with Enlite and Claircoto introduce these game-changing solutions to the market.In addition, the next set of 4 Accelerate award winners: Sustlabs, Quebec Ventures, SensiableandBlaze will also collaborate with Panasonic business divisions to bring unique energy management offerings. Panasonic will continue to engage with other class of cohort 1 startup based on different business requirements and common synergies.”

“Panasonic Ignition program has been anenriching journey. For last sixmonths, we have been working closely with Panasonic to look for startups who were genuinely interested to solve, real-world problems and we are glad to see the outcomes achieved.Our hearty congratulations to the winners of Ignite and Accelerate awards. We wish them success in their engagements with different teams from Panasonic. Through such corporate initiatives, we can look at bridging the gap between industry and startups. We hope to partner with Panasonic in future editions of Ignition,” said, Mr. Yagnesh Sanghrajka, Founder and CFO at 100X.VC.

Panasonic Ignition is an integral part of the Panasonic Kurashi Visionary Fund (PKVF), a pioneering Corporate Venture Capital fund designed to invest in early to mid-stage startups spanning Japan, Europe, and India. The primary focus areas of the fund include well-being, decarbonization, energy, food infrastructure, spatial infrastructure, and emerging lifestyle domains. To date, significant global investments have been made in various companies such as Mode, Ubiden, Daybreak, R8 Tech, Neautech, and Zene, underscoring Panasonic’s commitment towards fostering innovative solutions across diverse sectors.

For more information about Panasonic Ignition, please click here.