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$7.5 million funding for auto parts startup Sedemac
Updated on : Mar 24,2016
Nandan Nilekani has invested his largest ever amount on an automotive products company, backing Sedemac Mechatronics, which has India's biggest automakers among its clients. Sedemac Mechatronics, based in Mumbai, has gathered close to $7.5 million (about Rs 50 crore) from Nilekani and existing investor Nexus Venture Partners, with the Infosys co-founder leading the round.
Sedemac, was incubated at a lab in IIT-Bombay, builds controls for small engines and powertrains. It was founded in 2008 by mechanical engineering professor ShashikanthSuryanarayanan with fellow IITians - PushkarajPanse, Amit Dixit and Manish Sharma.