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The Hindu
11 hours ago
- Business
- The Hindu
IIT Madras-incubated Plenome Technologies raises ₹6.5 crore in seed funding
IIT Madras-incubated startup Plenome Technologies, which develops disruptive solutions for secure data management at scale, has raised ₹6.5 crore in seed funding from Indian and foreign investors. The investors include Ovington Capital Partners, a Luxembourg-based investment firm, which has taken on the mantle of lead investor; AADI, an UAE-based firm that specialises in trading and distribution of plant, machinery, and capital equipment; and Manish Gandhi, who has previously invested in iconic startups, ranging from ePlane and CynLr to GoStop, LegalKart, and Fermbox. Founded by IIT Madras faculty Prabhu Rajagopal, a Shanti Swarup Bhatnagar awardee, Plenome addresses the challenge of developing digital applications that can protect the privacy of users and security of records, while ensuring interoperability across organisations, geographies, and smooth operations at scale. The co-founders are: IIT Madras MS (Entrepreneurship) student Vijayaraja Rathinasamy, an embedded systems expert, and IIT Madras Graduate Anirudh Varna, a blockchain expert. The startup emerged from Mr. Rajagopal's research group on Automation and Data Engineering at IIT Madras' Center for Nondestructive Evaluation. Plenome's BlockTrack 'OraganEase solution' for managing sensitive organ donation databases is already being deployed in trial runs in partnership with the apex body for organ transplants in a South Indian State. Plenome is also pioneering a novel pay-per-use model for conducting remote elections in large organisations, using its record-setting blockchain-based 'BlockVote' software. This software was already successfully deployed for the IIT Madras student elections. Additionally, Plenome is conducting trial runs of 'Ashwin', a suite of AI-powered electronic data capture, record maintenance, and insight generation platforms in the dental specialisation within healthcare, and is seeking to extend this to eyecare, cosmetic, and fertility segments. Ashwin offers voice-enabled electronic data capture through input in several Indic and foreign languages. Prabhu Rajagopal, founder-chairman, Plenome Technologies, and faculty, Department of Mechanical Engineering, IIT Madras, said, 'Our work improves access to healthcare in remote locations while enabling interoperability and insight generation based on structured medical records. Our work on remote elections is very exciting, offering the possibility of voting through mobile devices from any location.' Vijayaraja Rathinasamy, co-founder of Plenome, said, 'At Plenome, we are driven by the conviction that technology should be purposeful and inclusive, reaching those at the margins and delivering outcomes that are tangible, equitable, and sustainable.' Anirudh Varna, co-founder of Plenome, added, 'By decentralising critical systems, from healthcare diagnostics to secure voting, we are putting power directly into people's hands. We are looking forward to scale our Ashwin and BlockVote platforms globally.'
Time of India
a day ago
- Business
- Time of India
IIT Madras-incubated Plenome bags Rs 6.5crore funding
Plenome founders Anirudh Varna, Prabhu Rajagopal and Vijayaraja Rathinasamy and others. CHENNAI: IIT Madras-incubated Plenome Technologies, a blockchain-based data management startup, has raised a seed funding of Rs 6.5 crore from Ovington Capital Partners, a Luxembourg-based investment firm, UAE-based AADI, and veteran investor Manish Gandhi. Founded by IIT Madras faculty and serial entrepreneur Prabhu Rajagopal, along with Vijayaraja Rathinasamy and Anirudh Varna, it develops blockchain-based applications to protect users' privacy and security of records. Speaking to TOI, Rajagopal said the startup would initially focus on healthcare data, targeting customers in the US, the UK and the UAE market, where the regulatory environment is mature. 'Enterprises have started to increasingly focus on data security and cybersecurity after major security breaches. With the adoption of AI, there are more risks such as data poisoning, where AI models are deliberately fed with misinformation,' he said. Plenome plans to work with hospitals and clinics directly as well as with healthcare software platforms. It is developing an AI-SaaS platform for structured record creation and insight generation. The startup is conducting trial runs for an AI-based electronic data capture, record maintenance and insight generation platforms in the dental specialisation within healthcare, Rajagopal said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This Could Be the Best Time to Trade Gold in 5 Years IC Markets Learn More Undo Emerging from the research group on automation and data engineering at IIT-M, Plenome develops blockchain-based solutions for applications in safety-critical fields. It is based on a patented architecture. Plenome is also developing a distributed artificial intelligence (AI) protocol, where multiple agents work together to solve a problem. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
The Hindu
04-06-2025
- Business
- The Hindu
IIT-Madras launches School of Innovation and Entrepreneurship to boost startup ecosystem
The Indian Institute of Technology–Madras (IIT-M) has launched a School of Innovation and Entrepreneurship to provide structured academic support for the creation of startups. 'Our goal is to emerge as the leading school for innovation and entrepreneurship in the next five years and put IITM on the map of entrepreneurial universities across the world,' Prabhu Rajagopal, Head, School of Innovation and Entrepreneurship told The Hindu. 'The goal is primarily to provide an academic footprint to the entrepreneurial activities that are going on inside the campus,' he added. According to Mr. Rajagopal, who is a serial faculty-entrepreneur and a faculty member of the Mechanical Engineering Department, the school will offer a wide range of academic and non-academic programs, cutting-edge research in innovation and entrepreneurship, and a distinctive lab-to-startup pathway through the MS in Entrepreneurship (to be offered from the July-November 2025 semester). 'We will bring all the innovation and entrepreneurship initiatives on campus under this school. For example, the Centre for Innovation (CFI) and Nirmaan will now come under the school,' he added. Plans are on anvil to create IITM-specific funding mechanisms at the initiation and scale-up stages for startups, to be housed under the banner of this school. Practice-led degrees at undergraduate and master's levels are also being envisaged. 'We are also looking at an 'Innovation Doctorate,'' Mr. Rajagopal said. 'Last year, IIT-M Director set an ambitious target of incubating 100 startups every year. And we have achieved it. But it can't be a one-time wonder – We need to be doing it on a regular basis every time. And that's why we need to provide academic support for entrepreneurship on campus,' he added. During the financial year 2024–25, IIT Madras Incubation Cell (IITMIC) incubated 104 new startups. Over 50% of these startups were founded by IIT Madras members, including faculty, staff, students, and alumni, while 48% were founded by external entrepreneurs. Over the last 12 years, IITMIC has incubated a total of 457 deep-tech startups, collectively valued at over ₹50,000 crore.
The Hindu
27-04-2025
- Business
- The Hindu
IIT Madras incubated over 100 start-ups in past financial year
The Indian Institute of Technology Madras has incubated more than 100 deep tech start-ups in the past financial year. In the last 12 years, the institute's incubation cell has supported 457 deep tech start-ups, collectively valued at ₹50,000 crore. This figure is based on investments raised through venture capitalists. Among them are two unicorns and one company is on the verge of an IPO. The start-ups were founded by the institute's faculty, staff, students and alumni. External entrepreneurs have also contributed to them which span a range of critical and emerging sectors, including manufacturing and robotics to space tech, aero and defence, AI biotech and Internet of Things. A few of the successful ventures are Ather, Uniphore, Medibuddy, Hyperverge, Stellapps (MooPay), Agnikul, Planys, Detect, Mindgrove, Guvi and Galaxyeye. Institute director V. Kamakoti, who announced the achievements on Saturday, said the aim was to achieve the 'Startup 100 Mission' set in early 2024. The cell had incubated 104 start-ups during the financial year 2024-25. He said it was made possible by the sector-specific incubators such as Pravarthak, Bioincubator, HTIC MedTech RTBI and the institute's School of Innovation and Entrepreneurship. Over 50% of the 104 start-ups were founded by the institute's students, faculty, staff and alumni. As many as 48% were founded by external entrepreneurs, strengthening and showcasing IITMIC's diverse entrepreneurial ecosystem. Mr. Kamakoti said: 'The challenge of 'Start-up Shatam' (100 start-ups), which translates to incubating one start-up every third day, was taken up on April 1, 2024. The institute has incubated start-ups across a broad spectrum. This is our humble contribution to a Product Nation, a Start-up Nation and Viksit Bharat 2047.' The newly incubated start-ups are working in various sectors such as manufacturing, robotics, automotive and batteries, materials, defence and aerospace; AI, ML, AR/VR, blockchain, quantum computing, analytics/SAAS and fintech; health tech; biotech, pharma, agritech; IoT, and cyber physical systems. Prabhu Rajagopal, head of the School of Innovation and Entrepreneurship, said, 'In the coming year we plan to strengthen the mentoring and go-to-market strategies as well as drive the emergence of multinational start-ups'. The School of Innovation and Entrepreneurship, which houses IITM's pre-incubator Nirmaan, hosts 129 pre-venture teams actively working on deep-tech themes, with 113 under the Pratham training phase and 16 under the Akshar pre-incubation phase.
Time of India
26-04-2025
- Business
- Time of India
IIT Madras records 417 patents during 2024-25; leads India's HEIs in filings
Chennai: Indian Institute of Technology Madras (IIT-M) filed 417 patents during 2024–25, including 298 Indian and 119 international patents. Additionally, the institute filed 39 designs, six copyrights, and one trademark, bringing the total IP filings to 463 for the year. Tired of too many ads? go ad free now A release said that, in 2024, inventions were filed across key sectors including electronics and communication, energy and environment, mechanical and automotive, healthcare and medical devices, robotics and automation, and materials and manufacturing. The institute is also actively filing patents in emerging and high-impact fields such as energy and battery innovations, microfluidic technologies, healthcare and assistive applications, robotics, and artificial intelligence. "IIT Madras has been leading in IP filings among academic institutions in the country as it understands the significance of protecting innovations that will fuel the industries of tomorrow. The transfer of technology to industry was also scaled up in recent times," said Prof Manu Santhanam, dean (ICSR), IITM. IITM said in 2024–25, the technology transfer office successfully licensed more than 30 IPs/patents to various companies including Tunga Aerospace, OEG, AspenTech, Ciena, Rural-Mandi, InsituMicron, Jahen & Jos, Envitran, and Zemblance. "The institute has been strongly promoting IP-backed and deep research-based startups that are disrupting various spheres, from space to quantum, through various bodies including the Office of Innovation and Entrepreneurship and the IIT Madras Incubation Cell," said prof Prabhu Rajagopal, advisor (IPM Cell) and head, School of Innovation and Entrepreneurship, IITM. Between 2020 and 2024, IIT Madras filed 713 Indian and 310 international patents. Tired of too many ads? go ad free now In the last five years, it transferred tech to startups, MSMEs, and MNCs through licensing deals worth 28 crore. The most significant among these was the 5G RAN sub-system technology transferred to Tejas Networks (TATA Group), the institute said.
