Panasonic Life Solutions India (PLSIND), a diversified technology company, announced Enlite and Clairco as the winners of its first cohort of Panasonic Ignition program.

Enlite focusing on AI-enabled wireless building management system and Clairco that develops IoT-based smart air purification devices and space optimisation solutions will receive strategic funding and an opportunity to work with Panasonic business teams for development and implementation.

Innovation initiative

Ignition program in partnership with 100x.VC is a corporate innovation initiative that was introduced last year to develop solutions for real-life challenges focused around Energy 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 for business collaborations and get to implement solutions in partnership with Panasonic companies.

Manish Sharma, Chairman, Panasonic Life Solutions India & South Asia said that India has emerged as the world’s third largest start-up ecosystem with over 1.25 lakh start-ups and 110 unicorns and Panasonic is looking forward to being part of this journey through its initiatives like Ignition. Panasonic established India Innovation Centre (IIC) in 2017 with an initial investment of ₹240 crores.

Strategic endeavour

“The objective of IIC is to drive tech-based innovation and deliver growth for business. Today, we’re pleased to state that the investments are bearing fruits. Miraie – Panasonic’s IoT & AI enabled platform, Miraie Profactory, India’s first Matter-enabled RACs are all a result of timely innovative interventions driven through India Innovation 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,” he added.

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