Infosys Sells 2% Stake in Its Japanese JV HIPUS to Mitsubishi Heavy

Infosys has officially completed the sale of a 2% stake in HIPUS to Mitsubishi Heavy Industries (MHI). This move strengthens Infosys' presence in Japan and deepens its collaboration with MHI, which has been a long-standing client of HIPUS. The transaction was finalized ahead of the expected Q1 FY26 timeline reinforcing Infosys' commitment to supporting Japanese enterprises with next-generation digital solutions.

Established in 2019, HIPUS is a Japan-based procurement solutions joint venture led by Infosys. It specializes in procurement solutions for Japanese corporations, leveraging digital platforms and sourcing expertise. MHI's investment signals a broader push toward data-driven procurement strategies and expanded business opportunities in the region.

Infosys holds a majority stake in HIPUS, and the venture has attracted strategic investments from major Japanese industrial players, including Hitachi, Panasonic, and Pasona. Recently, Mitsubishi Heavy Industries (MHI) acquired a 2% stake in HIPUS, deepening its collaboration with Infosys and expanding its procurement capabilities.

Infosys shares responded positively, closing at ₹1,592.60, up 1.50% on the BSE.

DMI Finance Announces the Closure of a $400 Mn Equity Investment Round Led by Mitsubishi UFJ Financial Group, Inc. With Participation From Existing Investors Including Sumitomo Mitsui Trust Bank Limited

DMI Finance Private Limited (“DMI Finance”) today announced the closure of a USD 400 million equity investment round led by Mitsubishi UFJ Financial Group, Inc. through its consolidated subsidiary MUFG Bank, Ltd (“MUFG”), with participation from existing investor Sumitomo Mitsui Trust Bank Limited (“SuMi TRUST Bank”). This round includes primary and secondary transactions.

DMI Finance is a pure-play digital lender with products including consumption, personal and MSME loans. It leverages technology to optimize every step in the lending stack, from sales and underwriting through to customer service and collections.

DMI Finance sources and services customers through multiple digital channels – in particular it is an embedded digital finance partner of choice for leading businesses including Samsung, Google Pay and Airtel which work with DMI Finance to provide diverse financial products to their customers across India.

DMI Finance covers 95% of India's pincodes and has an accessible customer base of 25 million which is expected to grow to 40 million+ in FY24. It is projected to disburse over USD 2.5 billion in FY24 across products.

DMI Finance is AA- rated by ICRA and supported by leading Indian and international banks.

Shivashish Chatterjee, Co-Founder and Joint Managing Director of DMI Finance said: “Powered by world-leading digital infrastructure, India is in the midst of an unprecedented transformation. DMI Finance aims to be the trusted partner for Indian households and small businesses in addressing their rapidly growing financial needs. We are delighted to welcome MUFG and SuMi TRUST Bank on this pioneering mission, on which we embarked in 2016, of providing credit in real time to our clients. We are grateful to them for this display of confidence in the ability of our team to deliver superior results, both for our clients and our investors.”

Yuvraja C. Singh, Co-Founder and Joint Managing Director of DMI Finance said “We feel that the Indian financial market has huge potential for growth over the next decade (or two) and are fortunate to have the strategic investors that we do, who share our values and long-term vision. There is a large underserved population when it comes to financial services in India, and it is our goal to promote financial inclusion and support this market. It is very important to us that all stakeholders have a positive experience working with DMI, and this requires us and our investors to have philosophical and strategic alignment. With their patience and deep experience in the financial markets, we feel that MUFG and SuMi TRUST Bank, are the perfect investors for us. We look forward to working together.”

Masashige Nakazono, Managing Director, Head of Global Commercial Banking Planning Division of MUFG Bank said: “For MUFG, Asia is a significantly important and second home market, and India is one of our most expected growing markets with the rapid population growth and foundation of digital infrastructure, showing a strong trend and potential of expansion on digital financial services to the unbanked customers. We strongly believe that DMI Finance has been building up a robust and distinguished business model with external partnership based on the power of its cutting-edge technologies. We’re excited to support DMI Finance’s growth through our investment as a strategic partner and to contribute to the financial inclusion in India. We are looking forward to accompanying DMI Finance’s promising voyage in the digital financial market.”

Masaya Noda, Managing Executive Officer of SuMi TRUST Bank said: “We feel honoured to participate in this equity investment round and contribute to DMI’s growth as a “Strategic Investor”, following our initial investment that was also the first by a Japanese company in December 2021. We are confident that DMI’s digital financial services, which organically combine fintech and last-mile reach capabilities, will continue to contribute significantly to India’s growth, and that DMI itself will achieve further growth. We also look forward to creating business opportunities to collaborate with DMI as its business partner, and to growing together with DMI through India-related business.”

About the DMI Group

DMI Finance is a Systemically Important Non-Banking Financial Company and part of the DMI Group. For more information, please visit: https://www.dmifinance.in.

Founded in 2008 and supported by a deeply experienced team across 40+ offices in India, the DMI Group is a pan-India financial services platform with core businesses in digital finance, housing finance and asset management. It has raised over USD 1.5 billion of equity investment and is supported by global institutional investors, strategic family offices and leading Indian and international banks.

Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with approximately 2,100 locations in more than 50 countries. The Group has about 160,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to “be the world’s most trusted financial group” through close collaboration among our operating companies and flexibly respond to all of the financial needs of our clients, serving society, and fostering shared and sustainable growth for a better world. MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges. For more information, visit https://www.mufg.jp/english.

About Sumitomo Mitsui Trust Bank, Limited (SuMi TRUST Bank)

Established in 1925, SuMi TRUST Bank is Japan's largest trust bank with JPY 224 trillion (~USD 1.95 trillion) of custody assets and JPY 87 trillion (~USD 760 billion) of assets under management. SuMi TRUST Bank provides a wide range of services concerning commercial bank business, asset management and administration, and disposal of assets, with trustee business such as pension trusts and investment trusts, and complementary businesses such as real estate brokerage and stock transfer agency services. SuMi TRUST Group's purpose is "Creating new value with the power of trusts and let prosperous future for our clients and society bloom" and is promoting initiatives to achieve both social value creation and economic value creation. For more details, please visit www.smtb.jp/english.

Mitsubishi Electric India CNC Opens ‘Me-eye Experience Centre’ Offering IoT Solutions for CNC Metal Cutting Industry

An Initiative to develop and offer IoT solutions for the CNC metal cutting industry

Mitsubishi Electric Computerized Numerical Controllers (CNCs) has opened ‘Me-eye Experience Centre’ in Peenya under it’s CNC Technical Centre. This initiative will develop IoT solutions for the CNC metal cutting industry such as user applications via Mobile phone, PC and Web. The state-of-the-art demonstration set up in this new facility is one of its kind and will attract future developments in the era of IoT in the machine tool industry.

Mitsubishi Electric CNC offers advanced CNC control systems to take the machining needs of Industry to higher performance levels. The company supplies CNC package and technologies to various factory machines. Mitsubishi Electric India started It’s CNC manufacturing facility in Peenya, Bengaluru in 2017 to support the ‘Make in India’ initiative and aid industries who want to adapt the latest manufacturing technology.

Like a human eye which performs the function of visualization and transforming complex visuals into simple observation, the “Me-eye” brand will stand for a mission of ‘Visualising problems and realising solutions’ in the CNC and in the related industries. Me-eye will have many IoT projects in the future and few have already started as well. Me-Connect, MT-Connect, Connect2U are just few of the projects that’s being undergoing this initiative.

The Experience Centre also has showcased the Direct Robot Control (DRC) through which a demonstration of controlling a robot from the CNC Controller screen will be done as well. By these Factory Automation Collaborative efforts, Mitsubishi Electric’s esteemed customers will have their best choice in realising the world-class technologies and solutions that are made suitable for the Indian market.

Under the Me-eye Experience Centre, one of the first projects is “Me-Connect”, which is a mobile application for all Mitsubishi Electric CNC users which is the first among Mitsubishi Electric CNC group companies globally. CNC Customer service functions will be accessible through this App such as registration of a service request, warranty and end user’s data etc. The mobile application will help Customers to see the status of their Repair requests and Service/Maintenance personnel will be able to use this technology to remotely keep a track of their machine’s information at all times.

Addressing the “Me-eye Experience Centre” opening event, Mr. Masaya Takeda, General Manager, CNC Department, Mitsubishi Electric India Pvt. Ltd. said, “We are happy to introduce such initiatives because value addition is our major interest through which we make our Customers and Partners happier and more enthusiastic. Through this, we are sure more Machine makers and End users are going to become beneficiaries by using our applications and support. Me-eye will function as an eye to see Customer’s needs/problems, an eye to focus on solutions for the growth of Indian manufacturing sector. We hope this initiative will also be another step towards the Government's ‘Make in India’ mission.”

Mitsubishi Electric India CNC aims to continue partnering India’s dream to be number one by using its sustainable technology, efficient manpower and an innovative approach.

Mitsubishi Electric India launches “CNC-on-Wheels”

Initiative to introduce the latest CNC Manufacturing Technology to our industrial manpower

Mitsubishi Electric Computerised Numerical Controllers (CNCs) has launched a training and demonstration caravan “CNC-on-Wheels”. This vehicle was flagged-off from the Mitsubishi Electric, CNC Technical Centre in Peenya which will start its journey in the Peenya industrial area first and then proceed to other Industrial areas.

Mitsubishi Electric CNC offers advanced CNC control systems to take the machining needs of customers to a higher performance level. The company supplies CNC packages and technologies to various factory machines. Mitsubishi Electric India started It’s CNC manufacturing facility in Peenya, Bengaluru in 2017 to support the ‘Make in India’ initiative and aid industries who want to adapt the latest manufacturing technology.

The “CNC-on-Wheels” is an initiative of Mitsubishi Electric CNC which has it’s focus on contributing to improvement of the manufacturing ecosystem of India. The initiative will help in enhancing the skills of young machine operators and nurture their technical capabilities in learning the latest CNC Systems. As a company, we do not want technology and its knowledge to be limited to classrooms and customers only, with this initiative we are taking our state-of-the-art training methods to the skilled and semi-skilled manpower of the industry so that they can see, learn, and get hands-on experience of our products and are comfortable in using them.

The “CNC-on-Wheels” consists of two major CNC controls: M80, which is our flagship product and E80, which is a product with limited features, aimed at SMSe/MSMEs. The initiative is designed in a way that a qualified engineer of Mitsubishi Electric will always be present during the whole journey of the vehicle in the industrial areas which will lead to numerous benefits such as sharing knowledge of operations, applications, troubleshooting, explanation of specific features etc. which will be explained to the users.

Addressing the “CNC-on-Wheels” launch event, Mr. Masaya Takeda, General Manager, CNC Systems, Mitsubishi Electric India Pvt. Ltd. said, “It is our prime interest that we are connected to the CNC operators and key decision makers in the metal cutting industry. By deploying a new training and demonstration vehicle, we will support to increase the skill level of our CNC operators as a step towards the Government's ‘Skill India Mission’ and ‘Make in India’ initiative.’ We will continue to support the Indian manufacturing industry like we have been doing for some decades.”

Mitsubishi Electric India CNC believes in taking India towards a brighter future which is sustainable for future generations as well. This initiative supports the cause of sustainable and efficient manufacturing by empowering the industry with sustainable technology and new production methods to ensure that the industry and it’s manpower progresses and lead India to become a manufacturing powerhouse in the years to come. The initiative will be carried out with all COVID-19 protocols ensuring safety and wellbeing of the society.

Efficiency, Safety & Reliability powered by Mitsubishi Elevators: A Make in India initiative

Image Credit - www.mitsubishielevator.in

Ever since the inception of elevators, it has been offering a first-class solution to make the user experience smoother and more convenient. Installed with highly efficient & warmer interfaces, elevators provide smart operations and comfortable rides. Elevators are designed to save time and add ease to our modern lifestyle and make the vertical journey of the mid-rise urban buildings more convenient and hassle- free.

Undoubtedly, the development of elevators has been an inspiring journey which has created many breakthroughs. Seeing its potential, a lot of global leaders have stepped forward to create and establish elevators and escalators, especially in India through their local partners and many of them have started their own operations in India.

One of the leading manufacturers of electrical and electronic products in the world, Mitsubishi Elevator India is in the same league, it offers multiple solutions for elevators and escalators in India. Since 1995, the company has been distributing elevators and escalators in India through its local partners. It was in 2015 when Mitsubishi Elevator India became a 100% subsidiary of the Mitsubishi Group, Japan and started its own operations in India by installing its products primarily in the premium segment.

To set a benchmark, Mitsubishi Electric has delivered the fastest high-speed elevators to the Shanghai Central Building in China and undertaken the installation of the fastest elevators at Ahuja tower, Mumbai India. It is committed to strengthening customer solutions in terms of everything including product specifications and technical requirements.

The globally renowned elevator technology by Mitsubishi Elevator India expanded its horizons by bringing a manufacturing facility in Vemagal, Kolar, near Bengaluru. This manufacturing facility produces world-class elevators in India, thereby ensuring the company’s commitment to offer the highest level of safety, quality & reliability in their elevators. As a part of the ‘Make in India’ initiative, the company has recently launched its latest series of elevators, known as NEXIEZ-LITE elevators. This latest contribution offers key components like traction machine and control system that are imported from their overseas factory in Japan and Thailand where the components quality level is the highest among all the Mitsubishi global factories.

Mitsubishi Elevator’s ‘Make in India’ initiative is constantly making efforts to expand and deliver the best in the market. This initiative by Mitsubishi Elevator India took a kickstart in 2016, and now the company has been expanding production and portfolio for the Indian market. There are a lot of benefits for assembling products in India including reduction of transportation costs. The A1-quality parts made in Thailand and Japan are obtained and manufactured from reliable suppliers, which guarantee the quality of the product. Mitsubishi Elevator India’s product durability/lifespan and safety levels are at the highest in the Vertical Transport Industry due to its strict and detailed quality management and service level of maintenance staff. Although, there is no third party’s involvement to assess the elevator quality in India. However, such surveys have been done in Hong Kong, where Mitsubishi Elevator’s quality levels are evaluated as No.1 among the competition for more than 5 years.

Mitsubishi Elevator’s Indian made elevator series, NEXIEZ-LITE (MR & MRL), adopts the same technology used in its products sold in Hong Kong and other countries.

There is no denying that Mitsubishi Elevator’s ‘Make in India’ program promises safety and reliability for society. It offers high quality products and assures that the customers who use Mitsubishi Elevators can be free from discomfort such as vibration/noise during lift operation, unsafe door operation, uneven levelling when the elevator stops, entrapment, etc. The company provides exceptional service as required for a comfortable and stress-free vertical transportation.

It also addresses concerns like long downtimes and minimizes complaints from passengers. As a matter of fact, the company uses originally developed and self-manufactured core components, passed through strict and detailed quality tests. Their best rail alignment and installation quality supports the elevator systems to the highest level

Conclusively, this ‘Make in India’ initiative by Mitsubishi Elevator India delivers safe, reliable and efficient solutions and brings real comfort without compromising its customer’s satisfaction.

Mitsubishi Group Invests Additional $120M in a Liquidity Group Fund - Mars Growth, as it Ramps Up Growth Financing in ASIA PAC Tech Companies, Reaching $220M Direct MUFG Investment in Liquidity Within the Last 10 Months

https://ift.tt/3ByKktN

Business Wire India

Mitsubishi Group (MUFG) the second largest banking and finance group in the world has injected another $120 million investment into the Mars Growth fund, a 50/50 joint venture owned by MUFG and Liquidity Capital. MUFG has a broader strategic relationship with Liquidity and this latest investment represents their cumulative investment of $220 million to date.

 

Mars Growth Capital provides debt financing solutions to technology companies in Asia Pacific and Europe. Since its inception one year ago, the fund has recorded exceptional performance through ten transactions to the value of $80 million, executed across Asia, Australia and Europe, with demand exceeding $2 billion during this period.

 

Through its strategic collaboration with MUFG, Liquidity is focused on revolutionizing the credit underwriting process for the business sector. Recognizing the challenges for high potential companies to secure non-dilutive capital from traditional financial institutions, Liquidity developed DYNAMiCS, a world-first, machine learning platform that can perform fast and thorough, data-driven due diligence on companies to assess their performance and growth potential.

 

DYNAMiCS uses algorithms to accurately predict future revenues, cash balances and other relevant financial covenants unique to technology business. Each of Liquidity’s four funds, including Mars Growth Fund, use the platform to inform their investment decision making, oftentimes in a process that takes less than 24-hours to complete.

 

Liquidity Group has provided over $750 million during the last year to over 50 growth companies across USA, Asia Pacific, Europe and the Middle East, including top unicorns such as eToro, Homer, Resident, Infinidat, Acronis, Infra.Market, and others. Its financing ranges from $5 million to $100 million, and is committed to 24-hour due diligence using its first of a kind platform - DYNAMiCS.

 

Ron Daniel, Liquidity CEO, said: “MUFG's ongoing investment in our funds is a vote of confidence in our technology, capabilities and potential. Mars Growth Capital’s performance to date is a reflection of the strength of our methodology of combining our team’s professional investing expertise with our bespoke DYNAMiCS technology solution. We are excited to continue our ongoing partnership with MUFG, who shares our ethos to support innovative, technology-driven companies across key market segments.”

 

Rio Hiroshima, who manages Mars Growth Capital’s operations on behalf of MUFG, said, “Since launching the fund just one year ago, we have quickly positioned ourselves as the market leader in growth financing for technology companies across the APAC and EMEA regions. Market demand, coupled with our strong investment performance has enabled us to grow rapidly and increase the value of the fund to $200 million. We are excited to continue our partnership with MUFG as we continue on the same dizzying trajectory into 2022”.

 

Yaron Primovich, the fund manager on behalf of Liquidity said: "Our partners at MUFG believe in our value proposition, and share our ambitions to be the global leader in growth financing. We hold a unique position in the marketplace because our underwriting platform acts as a data-driven oracle to identify and assess the potential of prospect companies. DYNAMiCS can cut through masses of information to analyse the strength of different business models, end customer behaviours and financial situations, arming us with insights to determine a company's ability to meet future debt repayments.”

 

"In a post Covid-world, businesses across the globe are on the cusp of even greater levels of innovation and expansion, further fuelling companies' appetite for growth and debt without dilution. We are excited to play a crucial role in helping these companies optimise on this opportunity”.

 

In addition, Mars Growth Capital has registered high levels of demand from hundreds of companies, in less than one year since its formation.

 

Notes to Editor

 

About Liquidity

 

Liquidity was established in 2018 by Ron Daniel, Yaron Sela and Oron Maymon. Liquidity manages $800 million in several funds worldwide. Among the partners in the company are Spark Capital, Meitav Dash and the Mitsubishi Banking Corporation. The company is considered a world leader in business credit management for growth companies using the machine learning technology it has developed. www.liquiditycap.com

 

Mars Growth is a joint venture between Liquidity Capital and MUFG that offers tech startups a one-of-a-kind funding alternative, enabling them to double down on their hyper-growth without giving up equity. Its trajectory-based funding model allows them to work with startups and growth-stage companies side-by-side, taking on financial risk. Part of the Liquidity funds arm, Mars Growth invests in SaaS providers that demonstrate over $3M in ARR and 30% year-over-year growth, with an average ticket size of $3M-$100M.

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20210901005448/en/

Mitsubishi Group Invests Additional $120M in a Liquidity Group Fund - Mars Growth, as it Ramps Up Growth Financing in ASIA PAC Tech Companies, Reaching $220M Direct MUFG Investment in Liquidity Within the Last 10 Months

Business Wire India

Mitsubishi Group (MUFG) the second largest banking and finance group in the world has injected another $120 million investment into the Mars Growth fund, a 50/50 joint venture owned by MUFG and Liquidity Capital. MUFG has a broader strategic relationship with Liquidity and this latest investment represents their cumulative investment of $220 million to date.

 

Mars Growth Capital provides debt financing solutions to technology companies in Asia Pacific and Europe. Since its inception one year ago, the fund has recorded exceptional performance through ten transactions to the value of $80 million, executed across Asia, Australia and Europe, with demand exceeding $2 billion during this period.

 

Through its strategic collaboration with MUFG, Liquidity is focused on revolutionizing the credit underwriting process for the business sector. Recognizing the challenges for high potential companies to secure non-dilutive capital from traditional financial institutions, Liquidity developed DYNAMiCS, a world-first, machine learning platform that can perform fast and thorough, data-driven due diligence on companies to assess their performance and growth potential.

 

DYNAMiCS uses algorithms to accurately predict future revenues, cash balances and other relevant financial covenants unique to technology business. Each of Liquidity’s four funds, including Mars Growth Fund, use the platform to inform their investment decision making, oftentimes in a process that takes less than 24-hours to complete.

 

Liquidity Group has provided over $750 million during the last year to over 50 growth companies across USA, Asia Pacific, Europe and the Middle East, including top unicorns such as eToro, Homer, Resident, Infinidat, Acronis, Infra.Market, and others. Its financing ranges from $5 million to $100 million, and is committed to 24-hour due diligence using its first of a kind platform - DYNAMiCS.

 

Ron Daniel, Liquidity CEO, said: “MUFG's ongoing investment in our funds is a vote of confidence in our technology, capabilities and potential. Mars Growth Capital’s performance to date is a reflection of the strength of our methodology of combining our team’s professional investing expertise with our bespoke DYNAMiCS technology solution. We are excited to continue our ongoing partnership with MUFG, who shares our ethos to support innovative, technology-driven companies across key market segments.”

 

Rio Hiroshima, who manages Mars Growth Capital’s operations on behalf of MUFG, said, “Since launching the fund just one year ago, we have quickly positioned ourselves as the market leader in growth financing for technology companies across the APAC and EMEA regions. Market demand, coupled with our strong investment performance has enabled us to grow rapidly and increase the value of the fund to $200 million. We are excited to continue our partnership with MUFG as we continue on the same dizzying trajectory into 2022”.

 

Yaron Primovich, the fund manager on behalf of Liquidity said: "Our partners at MUFG believe in our value proposition, and share our ambitions to be the global leader in growth financing. We hold a unique position in the marketplace because our underwriting platform acts as a data-driven oracle to identify and assess the potential of prospect companies. DYNAMiCS can cut through masses of information to analyse the strength of different business models, end customer behaviours and financial situations, arming us with insights to determine a company's ability to meet future debt repayments.”

 

"In a post Covid-world, businesses across the globe are on the cusp of even greater levels of innovation and expansion, further fuelling companies' appetite for growth and debt without dilution. We are excited to play a crucial role in helping these companies optimise on this opportunity”.

 

In addition, Mars Growth Capital has registered high levels of demand from hundreds of companies, in less than one year since its formation.

 

Notes to Editor

 

About Liquidity

 

Liquidity was established in 2018 by Ron Daniel, Yaron Sela and Oron Maymon. Liquidity manages $800 million in several funds worldwide. Among the partners in the company are Spark Capital, Meitav Dash and the Mitsubishi Banking Corporation. The company is considered a world leader in business credit management for growth companies using the machine learning technology it has developed. www.liquiditycap.com

 

Mars Growth is a joint venture between Liquidity Capital and MUFG that offers tech startups a one-of-a-kind funding alternative, enabling them to double down on their hyper-growth without giving up equity. Its trajectory-based funding model allows them to work with startups and growth-stage companies side-by-side, taking on financial risk. Part of the Liquidity funds arm, Mars Growth invests in SaaS providers that demonstrate over $3M in ARR and 30% year-over-year growth, with an average ticket size of $3M-$100M.

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20210901005448/en/

Mitsubishi Electric India Announces Launch of Exquisite & Energy Saving Room Air Conditioners

With a 5-year PCB warranty and 10-year Compressor warranty under the inverter and non-inverter categories

Gurugram, 28thJuly2021: With the tropical India summer season on the rise, Mitsubishi Electric has been consistent in understanding its customers’ Air Conditioning needs. Mitsubishi Electric is a premium brand for Air Conditioning systems for residential, commercial, and industrial use. The company aims to capture the market and provides its customers with their latest range of Air Conditioning products inverter and non-inverter categories. 

Its complete Room Air Conditioner (RAC) product range comes with 5-year PCB warranty and 10-year Compressor warranty. Mitsubishi Electric Air Conditioners also provides powerful and advanced multistage air filters – Plasma Quad Connect. These filters effectively prevent viruses, bacteria, Molds, allergens, dust & PM2.5 to give you clean and healthy air. It is a high-performance air Purifying device which can even be installed on existing units, contributing to a better air quality in your room.

Kirigamine Series (MSY-RJS): In 2021 Mitsubishi Electric India has expanded its RAC product line up by launching Japan’s most popular Kirigamine Series as 4 Star Inverter(MSY-RJS)in India. This complete range is being introduced considering the need for premium products with Designer Look to enhance overall aesthetics of your room.

Kirigamine has been named after the famous summer resorts in the Suwa City of Japan. Kirigamine Highlands is an eminent &a popular spot with a splendid view of Suwa City in Nagano. With this product, the company will continue to dedicate itself to delivering refreshing comforts for all customers, enabling them to feel as they are in the appealing Kirigamine Highlands. Aesthetically advanced 4-star inverter AC MSY-RJS provides Clean Air with PM2.5 Filter, Fast Cooling, and Long Airflow for large rooms. It comes with Dual Barrier Coating that prevents dust and greasy dirt from getting into the Air Conditioner Which makes its maintenance easier, and Blue Fin for outdoor condenser, which protects the condenser against corrosion from air, water, and other corrosives. 

MSY-RJS will be available for purchase at selective retail & modern retail outlets across India.
MSY JS Series:MSY-JS series is a 4-star inverter AC that is strong in cooling and big on savings. With built-in features like, Fast Cooling provided just at the click of a button, Long Airflow up to 12m suitable for living rooms, PM2.5 Filter#,Auto Up Down & L-R vane providing a comfortable environment.

MS-GS Series: MS-GS Series, a non-Inverter AC, comes with advancedTropical technology in compressors which have made it possible for Air Conditioners to operate at outside air temperatures as high as 50°C. This series has been specially designed keeping in mind, homes in the tropical regions. The series also provides High CFM which helps in faster cooling, and anti-corrosion coating on AC coil bends helps in preventing leakage of refrigerant from the ACs and PM2.5 filter#that provides clean air inside the room.

MS-GS Series and MSY-JS Series will be available for purchase at exclusive showrooms-Hiroba and Cooling Planet andauthorized Channel Partners.

Addressing the launch of energy savings and fast cooling room Air Conditioners, Mr. Naohiko Hosokawa, Director & Business Unit Head-Living Environment Division, Mitsubishi Electric India Pvt. Ltd. said, “Most of the technology is indigenous to Mitsubishi Electric,and has been developed with precision and based on our vast experience across Globe. The experience is not just about the technology but also about the various seasonal changes a tropical country like India witnesses.Capitalizing on our century-old experience and expertise in understanding customer needs, we are delighted to bring our latest range of Room Air Conditioners for 2021. Our advanced inverter technologies have enabled us to achieve powerful and desired cooling comfort without compromising on energy efficiency. With the launch of Kirigamine models in India, we are here to celebrate the comfort of Kirigamine Highlands in India”.

For more information, click on the links below:

https://mitsubishielectric.in/products/air-conditioning-systems/split-air-conditioners/inverter/msy-rjs13vf;

https://mitsubishielectric.in/products/air-conditioning-systems/split-air-conditioners/inverter/msy-js13vf:

https://mitsubishielectric.in/products/air-conditioning-systems/split-air-conditioners/non-inverter/ms-gs10vf

About Mitsubishi Electric India (MEI): With 100 years of experience in providing reliable, high-quality products, Mitsubishi Electric Corporation (TOKYO: 6503) is a recognized world leader in the manufacture, marketing and sales of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment. Mitsubishi Electric enriches society with technology in the spirit of its “Changes for the Better.” The company recorded a revenue of 4,191.4 billion yen (U.S.$ 37.8 billion*) in the fiscal year ended March 31, 2021. For more information, please visit www.MitsubishiElectric.com

Mitsubishi Electric in India has grown to become a company offering a wide range of innovative and high-quality products for the Indian market. This includes products and solutions for Air Conditioners, Automotive Equipment, Elevators & Escalators, Factory Automation and Industrial Systems, Semiconductor & Devices and Transportation Systems. 

For more information visit: http://in.MitsubishiElectric.com/en/index.page*U.S. dollar amounts are translated from yen at the rate of \111=U.S.$1, the approximate rate on the Tokyo Foreign Exchange Market on March 31, 2021

Budding Engineers prepare to battle in the 5th Edition of Mitsubishi Electric Cup

Mitsubishi Electric India is gearing up for India’s biggest national-level automation competition for students. The company will be hosting its 5th edition of Mitsubishi Electric Cup after organising successful editions in the past four years. Quality education and creating a sustainable society is the prime endeavour of Mitsubishi Electric. The company is determined to bring out the best innovations and skills among the future generations.   

The competition was announced on 10th July 2019 and invited entries from all over India. Around 278 teams registered online for the competition where a maximum of two teams per institute could register for the competition. 

Like previous years, Mitsubishi Electric Cup has a fundamental theme that will serve as a base for participants to engineer their models. The theme for this year is ‘Visualizing IoT Solutions for Smart Automation’ under which students will independently prepare and present complete set of devices and models, by using Mitsubishi Electric Factory Automation products. 

The national-level automation competition has carved a niche for itself as a testing ground for budding engineers to collaborate, innovate and excel in the field of Factory Automation. The Competition continues to receive encouraging response from Engineering Colleges and Technical Institutions across the country with representation from over 16 States including 2 Union Territories across the country. In the last edition of Mitsubishi Electric Cup, the winning team ’SPARK’ from D.K.T.E Society’s Textile & Engineering Institute (Maharashtra) received prize worth Rs. 1 lakh. The second place was taken by team ‘Con-Sol-E 3.0’ from Institute of Technology, Nirma University, Ahmedabad (Gujarat), who took home prize worth Rs. 75,000 and team ‘Team Eminence’ from MKSSS’s Cummins College of Engineering for Women, Pune (Maharashtra) secured the third spot, receiving prize worth Rs. 50,000. 



The 5th edition of Mitsubishi Electric Cup gears up for a much bigger concept. Over the years, the competition has gained momentum and helped in interacting and collaborating with various colleges. Thus, covering a good mileage in size and fulfilling social purposes. Students are required to integrate Mitsubishi Electric’s Factory Automation products (including PLC, Servo, Variable Frequency Drive, Human-Machine-Interface, etc.), to build up and achieve an analogous system of smart automation. 

Following the process, an eminent panel comprising industry and academia experts have shortlisted 35 teams out of all the teams who register, based on a pre-defined selection criteria. Mitsubishi Electric Factory Automation hardware has been dispatched to these 35 teams who will prepare and present models of various industrial manufacturing processes, energy saving solutions, smart solutions for building automation etc., basis the theme. The shortlisted teams are being assisted by Mitsubishi Electric India to make the model with technical support and training, along with provision of Factory Automation equipment. Additionally, each team will be given financial support of Rs. 10,000 upon successful participation at the final event of 5th Mitsubishi Electric Cup in February 2020 and their adherence to necessary skillset.

The winning team will get a prize worth Rs. 1 lakh. The runner-up team will be awarded prize worth Rs. 75,000, while the team winning the third spot will be given prize worth Rs. 50,000 and many more prizes in different categories. All the participants will be given certificates of participation.

Mr. Hisahiro Nishimoto, Director and Division Manager, Factory Automation and Industrial Division, Mitsubishi Electric India Pvt. Ltd. said, “As a leading player in the field of Factory Automation, we, at Mitsubishi Electric believe that it is our responsibility to provide and encourage industry knowledge and practical skills among today’s students, who will be the engineers of tomorrow. Through this competition, we have been providing a platform for engineering students to display their innovation capabilities and build advanced models, guided by our technical expertise and Factory Automation Equipment. This year’s theme ‘Visualizing IoT Solutions for Smart Automation’, is in accordance with our motto to support the dissemination of new knowledge and give chance for development of new ideas in the manufacturing domain.”

About Mitsubishi Electric India:

With nearly 100 years of experience in providing reliable, high-quality products, Mitsubishi Electric Corporation (TOKYO:6503) is a recognized world leader in the manufacture, marketing and sales of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment. Embracing the spirit of its corporate statement, Changes for the Better, and its environmental account, Eco Changes, Mitsubishi Electric endeavors to be a global, leading green company, enriching society with technology. The company recorded a revenue of 4,519.9 billion yen (US$ 40.7 billion*) in the fiscal year ended March 31, 2019.

Mitsubishi Electric India Pvt. Ltd. has grown to become a company offering a wide range of innovative and high-quality products for the Indian market. This includes products and solutions for Air Conditioners, Factory Automation and Industrial Systems, Power Systems, Photovoltaic solutions, Semiconductors & Devices, Transportation Systems, and Visual & Imaging. For more information visit: http://in.mitsubishielectric.com/en/index.page

*At an exchange rate of 111 yen to the US dollar, the rate given by the Tokyo Foreign Exchange Market on March 31, 2019

About B.M.S. College of Engineering, Bengaluru: 

ABOUT BMSCE INSTITUTE

BMSCE established in the year 1946 is the first private sector initiative in engineering education in India. Over the past 73 years of its illustrious existence, the institution has produced more than 40,000 engineers/leaders who have enriched the world through their immense contribution. Started with only 03 undergraduate courses, BMSCE today offers 13 Undergraduate & 16 Postgraduate courses both in conventional and emerging areas. 14 of its Departments are recognized as Research Centers offering PhD/M.Sc (Engineering by Research) degrees in Science, Engineering and Management. More than 350 research scholars are currently pursuing their PhD Degree in BMSCE Research Centres. So far 130 PhDs have been produced through BMS Research Centres. 

Online Healthcare Marketplace SastaSundar Raises Rs 100 Cr from Mitsubishi Corp

Kolkata-based SastaSundar.com, an online medicine and healthcare products marketplace has raised Rs 100 crore ( ~ US$ 14 Mn) from Japan's Mitsubishi Corporation. The Japenese will pick up an undisclosed stake in the startup, reported Times of India.

According to Times of India report, the Mitsubishi investment in SastaSundar will give the Kolkata-based startup a valuation of over Rs 500 crore ( ~ US$ 70 Mn). SastaSundar Healthbuddy has a revenue of over Rs 220 crore. “The company would cross Rs 300crore mark in the next one-two years,” an official added.

The fresh funding is a part of the fund raised for expansion of SastaSundar and is after the recent investments of Rs 70.49 crore by Rohto Pharmaceuticals, Japan. In May 2017, the startup had raised $5 million in funding from Rohto Pharmaceutica, which too is based out of Japan and a 70-year-old pharmaceutical manufacturer headquartered in Osaka, Japan.

SastaSundar Ventures, a group holding firm, is the majority owner of the company with 83% stake, while Rohto has around 17% in SastaSundar.

Founded in 2013, by B L Mittal and Ravi Kant Sharma, SastaSundar is aiming to use the knowledge and best in class technology to reduce cost and to add convenience in making available medicine, healthcare products and other useful products with high quality.

Earlier this month, one of the main companies of Mitsubishi Group, Mitsubishi UFJ Financial Group (MUFG), acquired significant stakes in several Indian companies, including Dr Reddy's, Tech Mahindra, Tata Global Beverages, Godrej Consumer, Marico and Cyient through acquisition of entities that hold shares of the companies.

Mitsubishi's MUFG Bank Acquires Stakes in Indian Firms including Tech Mahindra, Tata Global Beverages

Mitsubishi UFJ Financial Group (MUFG), one of the main companies of Japan's Mitsubishi Group, has acquired significant stakes in several Indian companies, including Dr Reddy's, Tech Mahindra, Tata Global Beverages, Godrej Consumer, Marico and Cyient through acquisition of entities that hold shares of the companies.

The acquisitions of indirect stakes in different companies follow MUFG's acquisition of First State Investments (UK), First State Investments (Singapore) Colonial First State Asset Management (Australia), First State Investments Ltd, Mitsubishi UFJ Trust and Banking Coporation and Mitsubishi UFJ Kokusai Asset Management on August 2.

These entities held stakes in the said companies, according to separate regulatory filings.

Godrej Consumer Products Ltd (GCPL) said following the transaction, MUFG has an aggregated interest of 5.47 per cent.

Similarly, Marico Ltd said MUFG's stake in it has gone up to 6.47 per cent from 0.02 per cent earlier.

Pharma major Dr Reddy's said MUFG has acquired an indirect interest amounting to 8.41 per cent, up from 0.05 per cent stake earlier.

Likewise, MUFG also acquired an indirect interest of 9.93 per cent stake in Tata Global Beverages Ltd following acquisition of entities that hold shares of the company.

A filing by Tech Mahindra showed that MUFG had acquired an indirect interest of 9.01 per cent. "The thresholds for disclosures ...are met and currently, MUFG has an aggregated interest in Tech Mahindra of 9.01 per cent ordinary share capital as on August 2, 2019, which is the date of acquisition. This is based upon a total of 88,786,599 shares held and a total of 9,85,201,274 voting rights on issue," it said.

Similarly, a filing by Cyient said MUFG has acquired an indirect interest of 9.81 per cent in the company. PTI RKL SR

Japan's Largest Conglomerate To Pick Stake in Gurgaon-based GreyOrange Robotics

In a major development, Japan's largest conglomerate Mitsubishi is considering acquiring a minority stake in GreyOrange Robotics, a multinational technology company based out of Singapore and Gurgaon that designs, manufactures and deploys advanced robotics systems for automation at distribution and fulfillment centers.

According to a news report in the Economic Times (ET), Mitsubishi is contemplating making an investment of less than $20 million, which could also witness the participation of GreyOrange's existing backer Tiger Global. The report also revealed that the Japanese biggie is structuring the investment through a convertible note which could result in valuing the robotics company from anywhere between $300 million to $500million.

A potential investment through a convertible note could help Grey Orange in overcoming its valuation issues. For the uninitiated, a convertible note is a form of short-term debt that converts into equity, typically in conjunction with a future financing round, primarily delaying final valuation till the next round is raised.

Grey Orange has already raised around $30 million till now from VCs such as Blume Ventures and Tiger Global. It raised its last round in mid 2015. Since then, it has working on raising another round of funding, but valuation mismatch has resulted in an unnecessary delay in the same. Sources also informed ET that GreyOrange has had quite a good year so far with revenues of being projected to $40 million for the coming year.

Talking to ET, a source revealed that GreyOrange plans on raising a smaller round right now and then go for a larger round of financing somewhere by early next year. Mitsubishi is one of the clients of GreyOrange. Though headquartered in Singapore, GreyOrange also has offices in India, Hong Kong, Japan, Germany and Dubai. Besides that, it has a research and development centre in Gurgaon as well.

GreyOrange is currently competing in the warehousing automation space with companies such as Amazon's Kiva. It is in fact one of the rarest hardware startups to have risen out of India.

This development was first reported in Economic Times.