Cloud software company Zoho invests in 2 Indian manufacturing startups

Zoho has invested an undisclosed amount in manufacturing startups Yali Aerospace and Karuvi. Zoho - a Cloud software company - said that the investments are part of its ongoing efforts to build deep-tech know-how and manufacturing capabilities in India.

"Manufacturing and technology capabilities are critical to a nation's economic prosperity. For our country to gain in this area, conscious attention to building expertise that is currently scarce becomes necessary," said Sridhar Vembu, CEO and Co-Founder, Zoho.

Karuvi and Yali are not only innovating in their respective fields but also are creating jobs and bringing technical skillsets to smaller towns and villages, which aligns with our philosophy, Vembu further said.

Karuvi CEO MSD Prasad said that the company will be adding more tools to its current portfolio and plans to have at least 30 products by 2025-end.

It is also working to create a network of suppliers "so that we can source all components locally", added Prasad.  

"We are in talks with the Directorate General of Civil Aviation (DGCA) to get approvals to start a pilot project to create a network between hospitals, especially in the hills where transportation is a challenge," said Yali Aerospace Founder and CEO Dinesh Baluraj.

What is Kruvi and what does it do?

Karuvi is a Chennai-based mechatronics startup that has launched 10 tools ranging from drills and power saws to angle grinders.

The company plans to open a manufacturing unit in Tenkasi this year.

Karuvi's products are manufactured with around 95 per cent locally sourced components.

What is Yali Aerospace and what does it do? 

Yali Aerospace is a Thanjavur-based aerospace startup which can deliver emergency medical supplies covering more than 300 kilometres in 120 minutes under its current model. 

(With inputs from IANS)

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