MinionLabs triumphs in Mercom India's first-ever startup pitch competition
By siliconindia | Monday, 08 May 2023, 17:17 IST
Mercom India named MinionLabs, an energy efficiency, and Internet of Things (IoT) company, the winner of its inaugural startup pitch competition at the 2023 Mercom India Renewables Summit held on April 26-27.
MinionLabs earned the distinction with its full-suite smart-metering system that dynamically improves the efficiency of electricity usage. The company’s AI-based advanced machine learning platform identifies anomalies, energy waste, cost-saving measures, operational efficiency, and policy violations and sends actionable notifications to help homeowners and businesses save upwards of 45% on their electricity bills.
The company emerged from a field of India’s most promising clean energy startups that participated in the pitching competition. The event added a new dimension to the Mercom India Renewables Summit, a flagship annual conference where industry leaders converge to discuss the future of clean energy in India.
“Mercom’s clean energy startup competition was designed to showcase the best young companies in support of the government’s self-reliant manufacturing initiatives, which will require the country’s entrepreneurs to invent, innovate and develop new technologies in India,” said Raj Prabhu, CEO of Mercom Capital Group. “All ten finalists inspired the judges with their dynamism, creative solutions to important problems, and desire to solve some of the biggest challenges as the country transitions towards renewable energy sources,” said Prabhu.
The Mercom India Renewables Summit gave the ten startups a unique opportunity to showcase their innovative products to key players across the renewable energy industry, including potential investors, customers, and partners. The event is an important initiative from Mercom India to promote technology, innovation, and entrepreneurship in India’s renewable energy sector.
Finalists for the competition were selected from a pool of applicants from across India that pitched their ideas to an expert panel of judges featuring renewable energy sector leaders. The judges included Shishir Garemalla, Head of International BD at PV Evolution Labs; Sunil Cavale, Investment Associate at Speciale Invest; Aswani Chaitanya, VP and founder at Capital-A; and Sumeet Singh, Partner at Climate Angels.
After winning the competition, MinionLabs was awarded prizes. The other nine finalists were Xefficient, SundayGrids, SuryaLogix, Centaur Automotive, GoVidyouth Mobility, RenKube, TriNano, Electrik Bee, and Sheru. The strong lineup is a testament to the vibrant startup ecosystem emerging in India’s clean energy industry that is leveraging cutting-edge technologies and applying innovative business models to drive India’s transition towards a cleaner, more sustainable energy future.
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