The popular household name for decades, Panasonic, is set to dive in the world of startups. It is gearing up with a mission to strengthen innovation and forge strong connections in the startup ecosystem of India.
The global tech giant from Japan has formed a dedicated corporate venture capital arm and a sizable fund of 8 billion yen ($55 million) for the purpose. It has invested about 40% of the fund in startups across Japan, the US and Europe. The remaining 60% is reserved for Indian startups.
The main focus is to extend food infrastructure, commercial infrastructure, lifestyle wellness, and sustainability. However, the debut startup accelerator program in India would be in energy management. It would be in collaboration with Mumbai-based venture capital firm 100X.VC.
Panasonic’s India Innovation Centre in Bengaluru is simultaneously pushing technological boundaries in IoT, mobility and artificial intelligence.
The recent investments of the company in Indian startups include FlashAid, MatchLog Solutions and Clueso. It highlights their commitment to nurturing innovation. The investments inject capital and also provide important mentorship as well as resources to help startups flourish.
Panasonic Company Insights
| Former Names | Matsushita Electric Manufacturing Works (1918–1935), Matsushita Electric Industrial Co., Ltd. (1935–2008), Panasonic Corporation (2008–2023) |
| Founding | March 7, 1918, Osaka, Japan; August 3, 1958, Manila, Philippines |
| Founder | Kōnosuke Matsushita |
| Headquarters | Kadoma, Osaka, Japan |
| Key People | Kazuhiro Tsuga (chairman), Yuki Kusumi (president and CEO) |
| Revenue | ¥7.388 trillion (2022) |
| Net Income | ¥255.3 billion (2022) |
| Total Assets | ¥8.023 trillion (2022) |
| Total Equity | ¥3.347 trillion (2022) |
| Products | Artificial intelligence, Automation, Electrical equipments, Electronics, Fans, Home appliances, IoT, Lighting, Rechargeable batteries, Robotics, more |
