Venttup raises seed-funding from Unicorn India; to accelerate growth

Kochi / September 20, 2024

Kochi, Sep 20:Pioneering industry 5.0 manufacturing startup Venttuphas raised seed funding from Unicorn India Ventures, enabling the company to accelerate business growth and technology development for indigenization program management.

Venttup is a Manufacturing as a Service (MaaS) company that empowers businesses to outsource their manufacturing needs, focusing on indigenization and local production of critical electrical, mechanical, and electronic components. Specializing in the Energy, EV, Aerospace, and Defense sectors, Venttup support manufacturers in developing products from the prototype stage to mass production, providing comprehensive end-to-end program management.

As sustainability and digitization transform the modern business landscape, cloud manufacturing will enable organizations to reduce their footprint across all activities, from material sourcing and production processes to building design.

Focused on building a global network of scalable engineering and capacities with India at its epicentre, Ventupp has an annual recurring revenue of Rs 2 crore besides an order pipeline of Rs 20 crore even as it works with Fortune 100 companies across diverse sectors like aerospace, green hydrogen, clean energy and shipbuilding.

The 2023-floated company said the seed funding will boost its aim to revolutionize themanufacturing landscape by uniting millions of manufacturing MSMEs on a single digitalplatform. 

“By equipping these businesses with a resilient, sustainable supply chain, Venttupnot only boosts operational efficiency but also champions environmental responsibility,” according to Sandeep Nair, Co-Founder & CEO of Venttup Ventures based in Bengaluru.

“We tackle a major manufacturing challenge by reducing reliance on imported components — by promoting the China Plus One strategy and aligning with government initiatives to increase local content in critical projects,” he revealed. “This enables Venttup to offer a comprehensive resource pool for the end-to-end programme management of component localization. We aim to create a single platform for global buyers to source quality, proven products from India, driving the country’s transformation into a global manufacturing hub.”

The ‘China Plus One’ strategy encourages companies to diversify their manufacturing and supply chains by investing in countries other than China. 

Founded by industry veterans with extensive experience at Hitachi Energy, Siemens Energy, Larsen & Toubro, and Kalpataru Power, Ventupp is also led by co-founders M. Wasim Ankli (COO) and Joseph Panakkal (CMO). Built on the principles of localization and sustainability, the company assists large enterprises in outsourcing their engineering needs while enablingthem to reduce their carbon footprint through cloud manufacturing and sustainable practices.

The 2016-founded Unicorn India is a technology-focused early-stage venture fund that invests capital in emerging and visionary startups.

COO M. Wasim Ankli said “Venttup aim to create a unified manufacturing platform for global buyers to source custom manufacturing components from India. We are introducing the GATE process—a transparent tech platform that allows customers to track each stage of new part development.”

The company plans toleverage India’s manufacturing capabilities to enter high-growth international markets, witha focus on the Middle East, Africa, Europe and North America, according to CMO Joseph Panakkal. “By executing this multi-pronged strategy, we seek to unlock new revenue streams, foster global partnerships and solidify our position as a leading exporter of Indian-manufactured components,” he revealed.

The company, over the next 12 months, aims to increase its revenue five-fold by building a high-performing team, attracting a diverse clientele, and expanding its reach into new markets. Also, Venttup aims to add 50 new customers to its platform.

The 2006-established Kerala Startup Mission, the state's nodal agency for entrepreneurship development and incubation activities, has been instrumental in supporting and promoting innovative startups such as Ventupp.

ENDS