Mitsubishi Electric India to acquire stake in Indian software startup
Summary
The investment aims to enhance the development and sale of no-code data-analysis and report-generation applications, bolstering Mitsubishi Electric’s factory automation (FA) digital solutions business. A key focus will be the incorporation of these applications with GENESIS64, a supervisory control and data acquisition (SCADA) software developed by ICONICS, Inc., a US-based subsidiary of Mitsubishi Electric. By partnering with software firms, the company aims to drive automation and digitalisation across various manufacturing stages, including design, production, testing, operations, and maintenance. With a workforce of over 1,000 employees and a strong network of approximately 150 channel partners, we have built a significant presence across India.” Reflecting on the industrys transformation over the past two decades, Madhusudhanan noted that the challenge is no longer just about introducing robotics but about driving continuous innovation. “The focus today is on developing new solutions that enhance efficiency and productivity,” he said, underscoring Mitsubishi Electric’s strategic direction in automation and digitalisation.