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Piramal Group Success Story | Journey to Become India’s Leading Global Conglomerate Company

Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Piramal Enterprises.

If you were to start a business, you would require considerable time and effort to maintain the legacy. For businesspeople to run a business is not an easy job. It needs dedication and strategic planning to be successfully managed.

There are some entrepreneurs who like to take up challenges and diversify their businesses into multiple markets or industries. To put it simply, this type of business is called a conglomerate. As a matter of fact, India is home to many such conglomerates and over the past few years, it has witnessed some major developments with many growth-oriented policies.

In this article, we are going to share some the story of the Piramal Group, which is India’s leading global business conglomerate company. Headquartered in Mumbai, Piramal Group was founded by Ajay Piramal in 1984 with varied expertise in sectors like Pharma, Financial Services, and Real Estate.

Find out more about Piramal Group’s startup story, its key people, what are its marketing strategies, its revenue model, challenges faced, funding and investors, and many more in the article further.

Piramal Enterprises – Company Highlights

Headquarters	Mumbai, India
Sector	Conglomerate
Type	Private
Founder	Ajay Piramal
Key People	Dr.Swati Piramal (Vice Chairperson)
Founded	1984
Revenue	$1.8 billion (FY22)
Total Funding Raised	$737.1 million
Website	www.piramal.com

Piramal Group – About and How does it work?
Piramal Group – Founder and Team
Piramal Group – Mission and Vision
Piramal Group – Name, Tagline, and Logo
Piramal Group – Business & Revenue Model
Piramal Group – Revenue Growth
Piramal Group – Funding and Investors
Piramal Group – Mergers and Acquisitions
Piramal Group – Investments
Piramal Group – Advertisements and Social Media Campaigns
Piramal Group – Awards and Achievements
Piramal Group – Competitors
Piramal Group – Future Plans

Piramal Group – About and How does it work?

Piramal Group is a multinational company with holdings in pharmaceuticals, healthcare information management, life sciences, financial services, and real estate. Started by Ajay Piramal in 1984, Piramal Group now has offices in almost 30 countries and a team of over 10,000 people working from various cultures and regions.

The Piramal Group works by offering diversified commercial services under different categories such as Piramal Enterprises Ltd. (PEL), Piramal Pharma Ltd., Piramal Realty, and Piramal Foundation.

Pfizer’s UK manufacturing site in Morpeth was purchased by the company in 2006. Piramal Group signed an agreement with Merck Pharmaceuticals in 2007 to collaborate on medication research and discovery. It secured a second medication research agreement with Eli Lilly and Company in 2008.

Piramal Group – Founder and Team

Piramal Group was founded by Ajay Piramal in 1984.

Ajay Piramal

Ajay Piramal is the Chairman of the Piramal Group. He was born on August 3, 1955, in Rajasthan, India to Gopikisan Piramal and Lalita Piramal. Ajay Piramal earned a bachelor’s degree in science from Jai Hind College and the Basantsingh Institute of Science at the University of Mumbai, and a master’s degree in management studies from the Jamnalal Bajaj Institute of Management Studies at the University of Mumbai. He also did a six-week Advanced Management Programme at Harvard Business School in 1992. He has been awarded an honorary doctorate by Amity University in India, as well as an honorary doctor of science by IIT Indore.

Ajay Piramal has received many awards and honors. To name a few, he received the Honorary Commander of the Order of the British Empire (CBE) in 2022 for services to the UK-India trade relationship, Business Leader of the Year Award 2018, CNBC Asia’s India Business Leader of the Year Award 2018, Outstanding Philanthropist 2013 and 2014, Forbes Philanthropy Awards, Special Achievement Award, Asia Pacific Entrepreneurship Awards (APEA) 2018 and many more.

Ajay Piramal plays many roles. He is the Non-Executive Director of Tata Sons Ltd. In addition, he is on the Board of Advisors at India’s International Movement to Unite Nations. He has remained an invitee to the World Economic Forum for the last 20 years.

Ajay Piramal’s wife is Dr. Swati Shah Piramal, who is the Vice Chairperson of Piramal Group. They have two children. Nandini Piramal D’Young, their daughter is married to US citizen Peter D’Young. Anand Piramal, their son, is married to Isha Ambani Piramal, daughter of Mukesh Dhirubhai Ambani, and his wife Nita Dalal Ambani.
Ajay Piramal’s net worth was projected to be $3.7 billion as of June 2022.

Dr. Swati Shah Piramal

Born on 28th March 1956, Swati Shah Piramal is an Indian Scientist and Industrialist, and the Vice Chairperson of the Piramal Group. In 2012, the President of India awarded her the Padma Shri, one of India’s highest civilian accolades, for her contributions to the scientific and technology industries.

Dr. Swati Piramal was the first woman to serve as President of India’s Apex Chamber of Commerce. Along with this, she is also a member of the Harvard Board of Overseers and the Dean’s Advisor to Harvard Business School and the Harvard School of Public Health.

She has founded Mumbai’s Gopikrishna Piramal Hospital and has led public health initiatives against chronic diseases such as osteoporosis, malaria, tuberculosis, epilepsy, and polio.

Dr. Swati Piramal has a medical degree from Mumbai University. She holds her master’s degree from the Harvard School of Public Health. For her various outstanding contributions to healthcare and philanthropic movements, Dr. Swati has been the recipient of many accolades. BMA Management Woman Achiever of the Year Award (2005), Nominated for the Forbes Philanthropy Awards 2013 in the Outstanding Philanthropist category, Listed in the 25 Most Powerful Women, and is now a part of the Hall of Fame of Most Powerful Women among many others.

Piramal Group – Mission and Vision

The mission statement of Piramal Group is, “We aim to serve our customers, community, employees, partners, and all other stakeholders by putting their needs and well-being first”

Piramal Group stays true to its following core values:

Knowledge
Action
Care
Impact

Piramal Group – Name, Tagline, and Logo

Piramal Group is named after the surname of the Piramal family.

The logo of Piramal Group was designed by taking inspiration from ancient times, which is the universal symbol of the Gyan Mudra. The symbol Gyan Mudra is often practiced in yoga, dance, and meditation. As seen, it displays a hand doing the mudra with each finger symbolizing one of the five elements – Air, Water, Earth, Fire, and Sky.

The tagline of Piramal Group is, “Doing Well and Doing Good”

Piramal Group – Business & Revenue Model

Piramal Group is a conglomerate industry whose business is divided into three major segments – Real Estate, Pharma, and Financial Services. It provides diversified commercial services. The firm operates its business in 30 nations, as well as has a worldwide brand presence in over 100 markets.

Piramal Group’s biggest business is its Piramal Enterprises Ltd. (PEL). PEL recognized an opportunity to develop its pharma business and invested in the local formulation sector while the Indian pharmaceutical industry was focused on overseas generics.

Piramal Enterprises Ltd, Piramal Realty, and Piramal Foundation are the three main components or part of the Piramal Group business.

Here’s taking a brief look into the business segments of Piramal Group:

Piramal Enterprises Limited –

Previously known as Piramal Healthcare Ltd., Piramal Enterprises Ltd. accounts for the largest company of the Piramal Group.

It is further divided into two categories –

Piramal Financial Services

It is active in business verticals by offering financial services such as

Piramal Capital & Housing Finance Limited (PCHFL) – It is a home financing corporation registered with the National Housing Bank (NHB) and involved in a variety of financial services companies. It offers wholesale and retail finance alternatives across industries. It also has customized financing solutions for the hospitality sector.
Piramal Alternatives (PA) –It offers customized finance options for high-quality corporations seeking to enhance their growth.
Piramal Credit Fund (PCF) – PCF is a sector-agnostic fund that has received a significant capital commitment from CDPQ (Caisse de dépôt et placement du Québec) to invest in mid to large-sized corporations across industries.
India Resurgence Fund (IndiaRF) –By taking a flexible strategy approach, IndiaRF is an equal joint venture between Piramal Enterprises Limited and Bain Capital Credit. It invests capital in the form of both loans and equity, in distressed to control circumstances in the Indian market. It has a dedicated website for IndiaRF – www.indiarf.com

Piramal Pharma Ltd. (PPL)

The Piramal Group’s Piramal Pharma provides a range of specific goods and services with the latest technological advanced manufacturing capabilities that are spread over 15 locations and a global distribution network in over 100 countries. It has services such as Pharma Solutions (the manufacturing unit), Critical Care (Complex Hospital Generics business), and Consumer Products Division (CPD) which sells over-the-counter medications. The company is also engaged in the ophthalmic category by teaming up with Allergan India. It is one of the leading specialty pharmaceutical companies in the ophthalmic category that offers high-quality medication and devices to treat diseases such as glaucoma, eye infections, and inflammations.

Piramal Realty

The Piramal Group ventured into the business of Real Estate in 2012 under the brand name Piramal Realty. It has architectural innovators KPF, HOK, Callison, Fosters, and Make among their collaborators, as well as worldwide structural consultants like BuroHappold, security and transportation specialists Max Security, and vertical transportation experts Lerch Bates.

Piramal Realty’s mission reads, “To build India’s most admired real estate company, admired not just for its scale & profitability, but also for its impact on the lives of its customers & the progress of our country.”

Piramal Realty’s top projects are – Piramal Mahalaxmi, Piramal Aranya, Piramal Agastya, Piramal Vaikunth, and Piramal Revanta.

Piramal Foundation

The company is vested in many philanthropic activities for which it established the Piramal Foundation in 2006. The foundation is actively engaged in the following projects:

Piramal Swasthya is a Karnataka-based health information helpline service named Arogya Vani.
Piramal Sarvajal, solar-powered water ATMs supply clean water in India.
Piramal School of Leadership provides education and women empowerment through the program – Piramal Fellowship and Principal Leadership Development Program (PLDP), Pratham delivers education to underprivileged children
Piramal Prize to recognize emerging organizations

Piramal Group – Revenue Growth

As of 2022, Piramal Group reported revenue of $1.8 billion (Rs 14,710 crores). The net income of the company stood at around $240 million (Rs 1,923.11 crores). The company generates about 40% of its revenue from outside the country.

Piramal Group – Funding and Investors

Piramal Enterprises has raised $737.1 million in three rounds of investment. Their most recent funding came from a Post-IPO Equity round on June 27, 2020. Their funding is supported by three investors. The most recent investors include The Carlyle Group and Standard Chartered Bank.

On December 18, 2019, Piramal Group raised $225 million in a single venture vehicle called India Resurgence Fund. The details are:

Date	Funding Round	Fund Amount	Investors
June 27, 2020	Post-IPO Equity	$490 million	The Carlyle Group
July 21, 2019	Post-IPO Debt	₹15 billion	Standard Chartered Bank
July 15, 2019	Post-IPO Debt	₹2 billion	Sachin Bansal
December 18, 2019	–	$225 million	Single Venture fund

Piramal Group – Mergers and Acquisitions

Piramal Enterprises has bought 5 businesses. On September 29, 2021, they acquired Dewan Housing Finance. They paid 3.8T for Dewan Housing Finance. Piramal acquired 11% of Vodafone Essar in 2011-12. The company sold its 11% stake in Vodafone India to Prime Metals, an indirect subsidiary of Vodafone Group, in 2014. The acquisition details are:

Date of Acquisition	Acquiree name	Amount
September 29, 2021	Dewan Housing Finance	₹3.8T
March 31, 2021	Hemmo Pharmaceuticals	₹7.8B
May 12, 2017	Walnut Medical	Undisclosed
January 31, 2017	Mallinckrodt – Specialty Products $170 million
August 16, 2016	Ash Stevens	$53 million
1999	Ceylon Company Limited	–
1984	Gujarat Glass Limited	Undisclosed

Piramal Group – Investments

On August 11, 2014, Piramal Enterprises invested in VGN Property Developers. This investment, Venture Round – VGN Property Developers, was worth $3 billion.

VGN Property Developers is a multibillion-dollar real estate firm based in Chennai.

Piramal Group – Advertisements and Social Media Campaigns

Piramal Capital and Housing Finance Ltd. (PCHF) launched a campaign in 2019 about their service called Bridge Loans. It is an ingenious tool that aids in the transition from selling an old house to purchasing a new one. Point of View Brandcom India is behind the concept of the advertisement. The ad shows how a person finds an apartment for his family but keeps the owner of the apartment waiting until he sells his old apartment.

Here’s what Mayank Jain, Head of Sales & Marketing at Piramal Capital & Housing Finance said about the campaign, “We at PCHF are focused on introducing products that seek to simplify the lives of our customers. A common problem that we encounter regularly is the wait to sell your old apartment to buy a new one. Our newly launched product – Bridge Loans is the answer to this problem. Through the film, we aimed to highlight this challenge and bring focus to our innovative product, specially designed to support our customers’ needs. We are pleased that Point of View Brandcom India has converted our brief into an effective product film by using humor to communicate our product offerings.”

Piramal Group – Awards and Achievements

Below is the list of the latest awards and achievements won by the Piramal Group:

Piramal Pharma recognized with the “2019 Global Customer Service Leadership Award” by Frost & Sullivan
Piramal Foundation recognized as ‘Socially Aware Corporate of the Year by Business Standard CSR Awards 2019
Piramal Capital & Housing Finance recognized as ‘Outstanding Company in Infra Finance’ at the 8th EPC World Awards
Piramal Realty was awarded the prestigious ‘Intelligent Enterprise Award 2018’ by Technology Senate in Pune on June 7, 2018
Piramal Housing Finance was recognized as the ‘Emerging Home Loans Provider of the Year at the MCHI CREDAI Golden Pillar Awards 2018 in Mumbai on May 5, 2018
Piramal Realty was conferred with the prestigious Mercer NDTV Employer Excellence Awards for ‘Excellence in Work-Life Balance’, in New Delhi on May 2, 2018
Piramal Glass USA was recognized as the ‘Suppliers of the Year 2018’ at TricorBraun’s 2019 Annual Sales Meeting & Supplier Showcase in St. Louis on January 23, 2019
Piramal Housing Finance was recognized as the ‘Emerging Home Loans Provider of the Year at the MCHI CREDAI Golden Pillar Awards 2018 in Mumbai on May 5, 2018
Piramal Pharma Solutions was recognized in all six categories including Capabilities, Compatibility, Expertise, Quality, Reliability, and Service at the recent CMO Leadership Awards, New York on March 21, 2018

Piramal Group – Competitors

The top competitors of Piramal Group are:

Sun Pharmaceutical Industries Ltd
Dr. Reddy’s Laboratories
Cipla Limited
Aditya Birla Sun Life Insurance Company Limited
Apollo hospitals
Torrent Pharma
Abbott India
Max Healthcare
Divi’s Laboratories
Glenmark Pharma Limited
Aurobindo Pharma Limited

Piramal Group – Future Plans

The Piramal Group is targeting to expand its financial services by adding 100 branches in FY23. The firm is all set to launch different and high-yielding products and aims to strengthen its partnerships with fintech and consumer tech firms. With their recent acquisition of debt-ridden DHFL, the company is planning to go for low-cost acquisitions.

FAQs

Who is the CEO of Piramal Group?

Peter De Young is the CEO of Piramal Group.

How much is Ajay Piramal worth?

The net worth of Ajay Piramal is 940 Crores.

Where is the head office of Piramal Group?

The head office of Piramal Group is in Mumbai.

How many companies are there under the Piramal Group?

There are 3 companies under Piramal Group.

October 4, 2022

Top 10 Leading Semiconductor Manufacturing Companies in India
With the rise in the use of electronic devices, India is seeing a steep rise in the demand for semiconductors. This alternatively ushers the growth of semiconductor makers.

If we shuffle through the last decade, it’s easy for us to point out the “make-in-India” drive has driven a marked increase in the production of electronic and electric devices. From mobile phones to mobile accessories, from TVs to computers to electric scooters, India is at the helm of development and all of them essentially need semiconductors. This is the reason why a lot of startups and companies have entered or are entering this industry of the semiconductors in order to serve this sector and the Indians better.

Cabinet announces Rs 76,000-crore incentive scheme to address semiconductor shortage

The crucial part that the semiconductors play in the production of diverse electronics and electric devices is indispensable. This is why the shortage of these products have been bothering the country as well as the world. Yes, the world has been an acute shortage of semiconductors since 2020. This shortage can literally be pointed out as one of the examples of the devastating aftermath of the deadly coronavirus disease.

Many Indian companies including Reliance and Ola have been facing this shortage of semiconductor chips ever since the pandemic outbreak, as a result of which, numerous initiatives and plans have been stalled almost unprecendently. To answer these concerns growing over the period of nearly a year, the Indian government has decided to clear the semiconductor incentive scheme by devoting INR 76,000 crore to bypass the problems with the semiconductors on December 15, 2021. According to this new policy, the Indian government has decided to help witness the construction of 20+ semiconductor components manufacturing, design, and display units over the period of the next 6 years.

The Modi-led government has already signalled to turn India into an electronics hub and this development is a major addition to the same. This new policy of semiconductors will help India strengthen its manufacturing base. As per the latest news, The Ministry of Electronics & IT (MeitY) will first initiate by working out the granular details and inviting applications.

Top 10 List of Indian Semiconductor Manufacturing Companies

Today we shall be looking at some of these companies that are making it big in the semiconductor industry. All of these companies or startups have established substantial credibility in this country. Each one of them is viewed as reliable by their clients.

In this article, we are going to discuss these semiconductor manufacturing companies. Some of these companies specialize in solar, some in LED, and many other sectors.

1. Bharat Electronics Limited
2. CDIL
3. Applied Materials
4. TSMC India
5. Micron Technology
6. Solex Energy Limited
7. Masamb Electronics
8. Semtronics Micro Systems
9. Samsung Semiconductor India
10. Broadcom
FAQs

Bharat Electronics Limited

Bharat Electronics Logo

Founded in 1954, Bharat Electronics is an Indian government-owned company that is involved in the manufacturing of cutting-edge electronic products for the aerospace and defence companies, including semiconductors. It successfully fabricated germanium semiconductors in the year 1962. The company managed to do this with the help of the Soviet Union Government. Since then, they have worked much in the field of semiconductors and innovated a lot in semiconductor technology. Today, it is the country’s premier semiconductor manufacturer.

CDIL

CDIL Logo

The Indian semiconductor manufacturing brand, Continental Device India Ltd (CDIL) is based in Delhi and commonly regarded as the pioneers of the manufacturing of Silicon Semiconductor Chips and Devices in India. Established in the year 1964, CDIL has made huge strides in semiconductor manufacturing. Today the company has immense capability in semiconductor manufacturing. Now, when semiconductor manufacturing is in huge demand, it boasts of having the best professionals and technology to fulfill this need. CDIL is trusted around the world today for the work it does.

Applied Materials

Applied Materials Logo

Applied Materials is an American semiconductor manufacturing brand set up in 1967. Being a reliable name in the semiconductor industry, Applied Materials have been a significant force in the development of the semiconductor sector in India with the help of its Indian subsidiary. Applied Materials India is based in Bangalore and was started back in 1967. The company has managed to develop a cutting-edge technology to manufacturing the units. It provides several services related to silicon development and fabrication. Services such as removal, addition, and modification are also a significant part of its offerings.

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TSMC India

TSMC Logo

TSMC is originally a Taiwan-based semiconductor but has eventually started its office in Bangalore, India. The company is planning to start its manufacturing plant in India. By setting up a base in India it will target the customers in America and other western countries. The company is also looking towards serving many fab less companies.

TSMC is one of the most renowned companies for seamless silicon fabrication in the world. It also provides semiconductor fabrication services to IT giants like Apple. Furthermore, it also provides all kinds of silicon fabrication technologies to a whole range of clients.

Micron Technology

Micron Technology Logo

Micron Technology is a semiconductor manufacturing company founded in the year 1978, the Indian office of which is set up in Bangalore. The company has been working in the semiconductor technology industry for years now. This company specializes in making memory chips. Micron Technology uses DRAM technology to fabricate memory chips. It uses this technology to build high-density memory chips.

Solex Energy Limited

Solex Energy Logo

Solex Energy company works in the field of manufacturing solar panels, semiconductors and other electronic components. Founded in 1998, Solex has completed several big projects quite successfully. Solex is hugely also credited for having the advanced capability to manufacture solar cells in India.

Masamb Electronics

Masamb Electronics Logo

Masamb Electronics was established in 2007 to cater to various semiconductor services in India. This company specializes in VSLI design, RTL design, EDA, and OEM design. It is also involved in firmware application development and Real-Time embedded designs. Masamb has veterans who have worked in the field of semiconductors, which is the reason why it brings out some of the best solutions in the whole world.

Semtronics Micro Systems

Semtronics Logo

Semtronics Micro Systems is a semiconductor manufacturing company that makes various power electronic products. It manufactures products that are suitable for Indian customers. Semtronics provides products and services in battery management, sequencer, analog circuit, and switching regulators.

Samsung Semiconductor India

Samsung Electronics Logo

Samsung Semiconductor Inc is a California-based company semiconductor manufacturing company that has its office in Bangalore. It is a fabless semiconductor company providing all kinds of semiconductor services in this country.

Samsung Electronics uses advanced technology to produce semiconductor material for smartphones and other electronic devices. It makes IC designs by foundry, ASIC, and COT engagement.

Broadcom

Broadcom Logo

Broadcom Corporation is fabless semiconductor manufacturing company established in the US back in 1991, which primarily manufactures products for the broadband and telecommunication industry. The company was acquired by Avago Technologies in 2016 and is currently operating as a subsidiary of Broadcom Inc. The company has its Indian office in Bangalore. It provides all kinds of semiconductor services including the design, development, and fabrication of semiconductors. It also has a wide range of products in the semiconductor sector.

Conclusion

These are some of the top 10 semiconductor maker brands in India. All of these companies have gained years of experience and are well-trusted in the semiconductor industry. Besides, all of them have also been putting their individual insights and that many years of R&D for the development of the semiconductor technology, thereby pioneering capabilities to manufacture the best semiconductors.

India is still growing its semiconductor manufacturing capabilities now and the new initiative from the Indian government towards the manufacturing of these products is a renewed impetus. Besides, more and more startups and companies are also entering the mentioned field to help the country steer past the scarcity of semiconductors if not solve the entire crisis involving the semiconductors.

FAQs

Who are the best Chipmakers in India?

The best chip makers in India are Bharat Electronics Limited, CDIL, Applied Material, TSMC India, Micron technology, Solex Energy, Masamb electronics, Semtronics, Samsung Semiconductor India & Broadcom.

Why Silicon manufacturing is so important in India?

India has a large consumer durable electronics market. Due to this, there is a huge need for manufacturing semiconductors in India. A lot of companies are now coming into this sector and trying to serve this sector.

Who is the largest chip manufacturer?

Taiwan Semiconductor Manufacturing Co., or TSMC, is the world’s largest subcontractor of semiconductor chips, also known as integrated circuits or simply chips, that power our phones, laptops, cars, watches, refrigerators, and more. Its customers include Apple, Intel, Qualcomm, AMD, and Nvidia.

Who are the fabless semiconductor companies?

The fabless semiconductor companies list would include:
- Graphcore
- Citrine Informatics
- GaN Systems
- Rockley Photonics
- Autotalks
- Bitmain
- Qualcomm
- Astera Labs
- Wiliot
- Xilinx
- Habana Labs
- Mobix Labs
- Celeno
How is the semiconductor manufacturing industry growing?

At the rate at which the semiconductor manufacturing industry is growing, it is forecasted that the industry would reach $803.15 bn in 2028, thereby growing at a CAGR of 8.8%. The semiconductor industry was last valued at $452.25 bn in 2021.

Which semiconductors companies in India is based in Bangalore?

The semiconductors companies in Bangalore include:
- NXP Semiconductors India Pvt Ltd.
- Applied Materials India Pvt Ltd.
- Beta Solutionz
- Bhel Electronics Division
- Signalchip
- Interplex Electronics India Pvt Ltd.
- Sankalp Semiconductor
- Soliton Technologies Pvt Ltd
December 15, 2021

Chizel – One Stop Platform for Your 3D Printing Needs

Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Chizel.

3D printing is the process of making 3 dimensional solid objects from a digital file. A 3D printed object is made through the additive process, where, an object is created by laying down successive layers of material, until the object is finally created. Owing to many benefits like, easy customization and high speed production, 3D printing has reached critical mass and is now rapidly transforming into a production technology.

It is used in many fields like braces in dentistry, eyewear, architectural scale models, prosthetics, movie props, designs in lamps or furniture and many more. And if you are looking for these 3D printing services for whatever purpose, fitting you in a budget and that too done in good quality, Chizel Prints has got your back. Chizel helps companies manufacture 3D parts for various purposes at the right cost, with high predictability and low risk and also simplify their supply chain.

Truventor.ai, an Australia based deep-tech led manufacturing company has acquired Chizel.io. It is a 100% stock deal along with part of Chizel Founders in the Truventor Management.

Discover the Journey of Chizel along with its Business Model, Funding, founders, Revenue, History, competitors and more.

Chizel – Company Highlights

StartupName	Chizel
HeadQuarter	Pune
Founder(s) Name	Yash Rane, Ravi Ranjan & Devang Saini
Sector	Manufacturing Tech/MaaS
Founding Year	2014
Parent Company	Truventor.ai
Total funding	USD 200K (Seed)
Website	www.chizel.io

Latest News – Truventor.ai has announced strategic Acquisition of Chizel.io
Chizel – About and How it Works
Chizel – Founders and Team
Chizel – Market and Industry details
How was Chizel Started
Chizel – User Acquisition
Chizel – Business Model & Revenue Model
Chizel – Funding and Investors
Chizel – Startup Challenges
Chizel – Competitors
Chizel – Growth
Chizel – FAQs

Latest News – Truventor.ai has announced strategic Acquisition of Chizel.io

December, 2020: Truventor.ai, an Australia based deep-tech led manufacturing company has acquired Chizel.io. It is a 100% stock deal along with part of Chizel Founders in the Truventor ai Management.

Truventor provides an on-demand machine platform for sales and purchase experience through a single integrated platform. After acquiring Chizel, it has become the Largest Network of Part Manufacturers in India.

Soumitra Joshi, Founder & CEO of Truventor, says, “We are super excited to announce our entry into the Indian custom manufacturing industry through the acquisition of Chizel. We will leverage Chizel’s extensive batch manufacturing experience in India to deliver better business outcomes for our customers, enabled by intelligent workflows and deep-tech framework.”

Chizel – About and How it Works

Chizel is cloud based platform, where a user just has to login, and upload the design. The software looks at the design, uses proprietary manufacturing algorithms to provide instant costing, turnaround time and feasibility analysis. This computation is done simultaneously for various materials and processes, which otherwise if done manually takes 2 – 48 hours. Customer can also place the order of manufacturing through Chizel. Once confirmed, Chizel receives the order and takes complete responsibility to get the part manufactured through their manufacturing partners, ensure quality and deliver it to the customer right at their doorstep. The entire manufacturing workflow can be tracked and managed through a single dashboard.

Today, every company has a sourcing team because it becomes difficult for businesses to run otherwise. It is okay if you are buying off the shelf listed products, because in that case quality is standard and only thing you need will be at the check cost, at which you are sourcing. However, when you source custom parts, lot of thought process and analysis is done in the identification of suppliers, cost of manufacturing, turnaround time, feasibility, risk analysis etc. This entire workflow is done on call or mails or even spreadsheets by engineers who have only limited know-how of suppliers and manufacturing process. Also, once the order is awarded to a specific supplier, it is difficult to track every step at shop floor. Any deviation in the workflow if not recorded anywhere, can lead to the loss of data and learning as well. There is lack of transparency.

Chizel 3D printing solves this problem, by a one-stop shop cloud software. With their software a company can get instant quotes, timelines and feasibility of part at click of a button. Once any company finalizes a design and places an order, Chizel identifies the right partner on the back end who can fulfill the part in given cost, timelines and quality. Chizel underwrites the quality in the entire workflow.

Customers essentially get solutions for the following case uses from Chizel:

New product development
Production of parts with annual volume of less than 10K
Cross country buyer seller location

Chizel – 3D Printing

Chizel – Founders and Team

Three IIT Roorkee alumni Yash Rane, Ravi Ranjan and Devang Saini founded Chizel in 2014.

Founders Chizel — **Yash Rane, Ravi Ranjan and Devang Saini**

Yash Rane is the CEO of Chizel. He is an Mechanical Engineer from IIT Roorkee and started his professional career in Automotive Industry (Mahle) as a Purchase Manager. He understands the need of manufacturing parts on-demand. Coming from Techno-Commercial background, he is great at Sales and Marketing for Chizel.

Ravi Ranjan is the COO of Chizel. IIT Roorkee graduate in Mechanical Engineer, he has 12 months experience working in Oil and Gas Sector (Reliance) as Maintenance Engineer. Working on production, supply chain and engineering, he manages Day-to-Day operations and finances at Chizel.

Devang Saini is the CTO of Chizel. He is a Civil Engineer from IIT Roorkee but found his passion in Cloud Product development. With 4 years of corporate experience, Devang started ‘Cassetz’ a cloud based music collaboration solution, that brings together musicians from around the world . With 2 years of arduous entrepreneurial background, he is the mind behind Chizel’s software.

Chizel – Market and Industry details

The entire workflow that Chizel operates in is called on-demand manufacturing. The market of on-demand manufacturing is already there, it is just fragmented and traditionally done. India’s manufacturing market size is $300 billion and it is poised to become $1 trillion by 2025. This 300B dollar is further distributed into 24 categories.

However, Chizel is currently focused on engineering component manufacturing highlighted in red above and anticipate it to be USD 360B globally.

How was Chizel Started

In the 3D printing startup space, Chizel has spent almost 5 years in the business now, but when they started, they wanted to build Etsy for 3D printing, where they acted as a B2C e-commerce platform selling customizable 3D printed lifestyle product. They made great design products. Unlike any other e-commerce Chizel never had any inventory. They used to manufacture the parts only when orders got placed. Within 2-4 days of placing the orders, the part would be ready to be delivered. Chizel had lot of 3D printing machine shop partners who manufactured the part for them. But struggled with getting consistent quality out of 3D printers and the price points of 3D printed parts left them only selling to top of the pyramid i.e. the rich class of customer base. In 2016 late, they discontinued the same and it changed their entire business model.

Now, while they had 3D printing partners, Chizel realized that they have a very good sourcing and engineering know-how of 3D printing manufacturing. They wanted to build a cloud platform where they could help other B2B companies to access this network and get engineering value added. They started building it, launched the beta in 2017 December and when it launched, customers liked the entire offering but they asked for more manufacturing processes and not just 3d printing, as it is just one way to make a part. To meet the customer demand, Chizel has now also ventured into CNC Machining, Vaccum Casting, Injection molding and sheet metal fabrication. Besides, they also supply materials for manufacturing of parts.

We experienced the problem of product designers, engineers and procurement officers that it is too difficult and time consuming to find the most optimal solution for their need of part manufacturing. They spend days sending the RFQs, waiting for feedback, discussing feasibility for productions. Also, given the number of processes, materials available, and suppliers available engineers are not always fully aware of complete manufacturing know-how and Total cost of manufacturing (including risk analysis). The entire process is inefficient and slow, reducing the turnaround time and leads to poor inventory management.

Chizel – User Acquisition

Chizel’s customers come from diverse sectors like medical devices, automation and robotics, special purpose machines, automotive, pharmaceuticals and many more. Considering the scale, Chizel have – Startups, SMBs and enterprise as three pillar categories.

For first 100 customers, Chizel focused only on Startups and SMBs as they are always short on hands to work. Sourcing and manufacturing expertise for customers becomes a very special USP that no one else does. For first 100 customers, spending time with them, understanding there real problems are very important, as done by people at Chizel. Chizel launched initially with outbound sales approach purely and are identifying channels to scale further.

Chizel – Business Model and Revenue Model

The Chizel business model works on a pricing model for markup on sourcing cost. They add markup purely depending on dynamic parameters like part size, volume, material, criticality, turnaround time, suppliers availability etc. and the gross margins varies from 2% to 25%.

Chizel – Funding and Investors

In May 2018, Chizel raised a seed funding of USD 200K from GSF Accelerator.

Chizel – Startup Challenges

Irrespective of industry, the most challenging task is hiring the right team.

we still do not have right recipe to hire right people, but definitely we spend more time in evaluating them. Because once onboarded, going back takes lot of time and energy – says Yash Rane

Chizel gets people for 2 months on an internship period arrangement. And if they are highly impressed by the interns they get them on-board as a full time member.

Chizel – Competitors

Chizel is highly motivated by the global competitors like Xometry and 3DHubs. They are in more mature market which makes technology adoption easy for their customers and suppliers.

Being in Indian market, for us how we develop our technology to deepen its penetration will be key, hence we are building our software from ground up and from scratch. Which means we own the entire experience, there is no third part API dependency. We also have far more better control over the DATA security ensuring privacy of our customers.

Chizel – Growth

Chizel has been successful in craving a niche for itself in mechanical component manufacturing sector. Besides startups and SMBs, the company has well known brands such as Volvo, Capgemini, Funskool, Eaton, Thermax, Mahindra automobiles, Lam Research etc as its client.

Our long term vision is to continue make a world digitalized and more efficient and augmenting man-machine interactions. For now, we are more focused on improving the workflow and interaction between manufacturing machines and engineers, procurement managers. Anything in between this, we aim to automate.

As of 2018, Chizel’s valuation stood at $1 Million with Revenue around $118k as on Dec 2017.

Chizel – FAQs

What is Chizel?

Chizel helps companies manufacture 3D parts for various purposes at right cost, with high predictability and low risk and also simplify their supply chain. It is trusted source for batch production and rapid prototyping services in CNC machining, sheet metal fabrication, 3D printing & injection molding

Who are the Founders of Chizel?

Yash Rane, Ravi Ranjan and Devang Saini founded Chizel in 2014.

Who are the Top Competitors of Chizel?

Chizel is highly motivated by the global competitors like Xometry and 3DHubs.

April 2, 2021

Manufacturing Startup Ideas In 2021
For citizens, manufacturing has always been a profitable sector. It needs rational investment in the beginning, but once it is developed and founded, it earns a steady income. However, the option of a successful production concept is vital to the company’s performance. There are different business concepts in manufacturing worldwide where you can begin. In this article, we’d offer some top and best ideas for manufacturing companies that can start with low investment and generate high profits.

15 Small Scale Manufacturing Business Ideas with Low Investment

The manufacturing business has been the choice of traditional businessmen for along time. It is an appropriate business if you are interested in asset-basedstartup and don’t understand the software-based companies. However people havealready worked upon different manufacturing business ideas with…

StartupTalkyPiyush Mishra

While You Prepare For The Beginning Of Your New Business In The Industry, You Must Take A Look On The Top 15 Business Ideas For Manufacturing:

1. Manufacturing Garments
2. Essential Oils Manufacturing Startup
3. Manufacturing Bee Honey
4. Notebooks, Textbooks, Paper Manufacturing
5. Manufacturing Smart Phone Accessories
6. Wax Candles Manufacturing
7. Manufacturing Disposable Plastic Cutlery
8. Natural Beauty Products Manufacturing Unit
9. Rough Book Manufacturing Unit
10. Manufacturing Agricultural Fertilizers
Motivation To Get Started
FAQ’s
Conclusion

1. Manufacturing Garments

Manufacturing Garments

The recognition of style has led to high demand for clothing. Also, the demand never ends. Manufacturing is very productive. The price can start as low as 1 lakh and go to numerous different crores. This is one of the smartest startups with low investment and large profits.

10 Techniques To Improve Your Sewing Business

This post applies not just to sewing business, but to any category of specialtyor fascination you are willing to monetize on. So even if you aren’t closelyrelated to sewing there’s something valuable for you takeaway nonetheless. The garment industry of India is an ₹1 trillion industry. Almost 33…

StartupTalkyDevashish Shrivastava

2. Essential Oils Manufacturing Startup

Manufacturing essential oil

Oil is used as cooking’s key value. It is also used to make shower soaps, humidifiers, and hair-cleansing products, hair-tonics, detergents, etc. Oils even have a good purpose in medicines. This business should be initiated in an area in which the raw material is easily obtained.

Best Business Ideas for Women

Women have been entering many fields and industries that they were absent in thepast. They have been breaking through the glass-ceiling for quite some time now,and there are many professions they are taking up and excelling in. In thisarticle, we will take a look at the most profitable business i…

StartupTalkyAshwini

3. Manufacturing Bee Honey

Manufacturing Bee Honey

The honey manufacturing business is linked to bee harvesting. It is one of the easiest manufacturing businesses to start with at a low cost. Because of its cure properties, honey is in great demand. The required investment is Rs.25,000. This is considered a good investment a company can do under 1 lakh.

4. Notebooks, Textbooks, Paper Manufacturing

Paper is used in all industries. High investment is not required for the manufacturing of paper. The required investment is 1 to 2 lakh based on paper size, volume, and quality, machinery, and space required. Education these days is becoming expensive. That could therefore turn out to be India’s most profitable startup.

5. Manufacturing Smart Phone Accessories

Manufacturing Smart Phone Accessories

Everyone uses smartphones. Their sales in past months have significantly improved and the market for their accessories has increased. Different accessories are used to decorate and secure the smartphone. This is a smart strategy with significant opportunities for progress. The investment varies between INR 50,000 and 2 lakh.

Analysis About Global Mobile Manufacturing Market

The mobile phone manufacturing market is a big industry, it has the potential tocontinue growing and create more markets. The mobile manufacturing market iscompletely different today when comparing to any stage in the past. Before, themobile phone was the device used to make calls with others occ…

StartupTalkyATHUL C K

6. Wax Candles Manufacturing

Manufacturing Wax Candle

During festival seasons, beautiful candles with a nice scent are always demanded, making this a very good idea for home-based businesses. There is not much space needed in this sector. The startup can be set up with a single room location. Just Rs. 25,000 to 50,000 is the cost for Wax, perfume, molds, dye, etc. are raw materials.

7. Manufacturing Disposable Plastic Cutlery

Manufacturing disposable plastic cutlery

Disposable plates, glasses, and cups are gaining in business fields because of their disability. The organization will start with basic machinery and very low investment. Small production machines can be needed for this. This may be one of two Lakhs best production firms.

8. Natural Beauty Products Manufacturing Unit

Manufacturing Beauty Products

There has lately been a major rise in the market for natural and herbal beauty products. People like their skin to be chemical-free and herbal. The goods must be herbal and their consistency is outstanding without the use of toxic chemicals. You will create a good client base and gain big profits in a short period.

Best Business Ideas for Couples in 2021 – StartupTalky

Sometimes starting a business as a couple seems like a bad idea, for others, itmight be a dream job. As a couple, it could easily bring you closer together anddouble the passion to make it succeed. If you two guide and motivate each otherthen you should consider turning your passions into a busin…

StartupTalkySouvik Dey

9. Rough Book Manufacturing Unit

Rough Book manufacturing

The need for exercise books will never be reduced because this is the first basic research necessity. The creation of rough books is very easy and takes little machinery. It is generally used by students at schools, in offices, etc.

10. Manufacturing Agricultural Fertilizers

manufacturing agricultural fertilizer

India is primarily a nation focused on agriculture. Farmers need large-scale fertilizers to boost productivity and protect their crops from pests. You can start with the fertilizer manufacturing unit if you have strong knowledge of chemicals and fertilizers. This organization has tremendous potential for expansion.

4 Startup Business Growth Strategies | Dirty Business Tactics

Nowadays business owner applies hidden methods for business growth strategies towarm their pockets. The usage of secret methods for the business growth and earnmore profit, is not a new phenomenon, as malpractice in business industry is avery old trick. The businesses opt for different strategies…

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Motivation To Get Started

“Starting and growing a business is as much about the innovation, drive and determination of the people who do it as it is about the product they sell” — Elon Musk.

” If you don’t find a way to make money while you sleep, then you will work until you die” — Warren Buffet “

Successful people don’t just become successful over night, what most people see as glance wealth, a great career. But all these success is as a result of hard work, strong purpose and hustle over time. Now is the time to start working more, only focusing on the most important things, and making much better products.

FAQ’s

What is the best manufacturing business to start?

This is the list of some profitable manufacturing startup ideas that you can start with low investment.
- Manufacturing Garments
- Essential Oils Manufacturing Startup
- Manufacturing Bee Honey
- Notebooks, Textbooks, Paper Manufacturing
- Manufacturing Smart Phone Accessories
- Wax Candles Manufacturing
- Manufacturing Disposable Plastic Cutlery
- Natural Beauty Products Manufacturing Unit
- Rough Book Manufacturing Unit
- Manufacturing Agricultural Fertilizers
Best Education Business Ideas to Build an Empire

Education [/tag/education/] is one of the important things for people living inthis world. As one important area, we can utilize education in many fields ofoperation and in our day to day life. This is perfect for those who have a high educational background or those wholike education. In utili…

StartupTalkyAshwini

Which manufacturing business is most profitable?

List of Best and Most Profitable Manufacturing Business Ideas in India
- Furniture Business – Low-cost manufacturing business idea.
- Garment Manufacturing unit.
- Producing leather-related items Business.
- Manufacturing of school/office stationery items – Low-cost manufacturing business.
- Automobile Parts manufacturing – High profits manufacturing business.
What is the easiest thing to manufacture?

This is the list of some of the easiest manufacturing startup ideas are-
- carpentry. Take a piece of wood and just give it any nice shape.
- soap
- ceramic and pottery
- perfumes
- fireworks
- simple flutes and simple instruments. (for example for little kids)
- glue
- mop
What are the requirements in starting a manufacturing business?

Below are some of the most important factors you should consider before starting a manufacturing business.
- Demand for your product.
- Setup costs.
- Competition from other manufacturers.
- Previous experience, knowledge, and qualifications.
- Finance available and finance options.
- Business location.
- Rules and regulations.
What business can I start with INR 10000?

Here is a List of Businesses You Can Start Within 10000 Rupees
- Travel Agency.
- Start a blog.
- Mobile Repair Shop.
- Mobile Recharge Reseller.
- Candle Making.
- Food Stall.
- Affiliate Marketing.
- Tuition.
Conclusion

Any business that uses components, parts or raw materials to make a finished good is a good business and termed as manufacturing business. After manufacturing ,these manufactured goods can be sold directly to consumers or to other manufacturing businesses that use them for making a different product. You can also start a B2B manufacturing business and help other businesses to grow.

There are a variety of exciting manufacturing startup ideas you can start with if you have the financial capital. Pay heed to the roots of research startups, tax planning and legal and fiscal guidance. Then proceed with open eyes and high expectations.
March 13, 2021