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Sridhar Vembu-led profitable SaaS unicorn Zoho invests in two Indian manufacturing startups

Jaya Vishwakarma
New Update
zoho ceo sridhar vembu

Zoho CEO Sridhar Vembu

Sridhar Vembu-led profitable SaaS unicorn Zoho Corporation has invested an undisclosed amount in manufacturing startups named 'Karuvi and Yali Aerospace'

The investment is part of the company's ongoing initiative to enhance deeptech manufacturing capabilities in India.

Earlier this week, Sridhar Vembu, in a post on X, announced the investment in Tanjavur-based Yali Aerospace.

"We are happy to announce our investment in Yali Aerospace, a drone startup based in Tanjavur led by the husband and wife team of Dinesh Baluraj and Anugraha. They returned from the Netherlands to their hometown of Tanjavur to start this," Vembu wrote on X.


Vembu highlights manufacturing and technology capabilities

According to Vembu, manufacturing and technology capabilities are critical to a nation's economic prosperity.

"For our country to gain in this area, conscious attention to building expertise that is currently scarce becomes necessary. Karuvi and Yali are startups that are not only innovating in their respective fields but are also creating jobs and bringing technical skillsets to smaller towns and villages, which aligns with our philosophy," Vembu added.

What does Yali Aerospace do?

Yali Aerospace was founded in 2022 by Dinesh Baluraj and his wife Anugraha after they returned from the Netherlands to their hometown of Thanjavur.

The startup focuses on creating easy-to-use drone technology for both civil and military applications. 

According to Vembu, Dinesh was inspired to start the company after witnessing the grief of a mother who lost her children in an accident, which motivated him to improve healthcare facilities in rural India.

Yali Aerospace has developed fixed-wing drones capable of vertical take-off and landing, with a range of up to 150 kilometres and a payload capacity of up to 7 kilograms.

What does Karuvi do?

Founded in 2022, Karuvi aims to manufacture power tools within India. So far, it has launched 10 tools, including drills, power saws, and angle grinders.

The startup focuses on integrating the latest advancements in motor technology, material sciences, and electronics into their products.

"Karuvi was started with the goal to design and develop consumer and industrial power tools and other mechanical systems indigenously. We have chosen to establish our manufacturing facility in a rural setting in Tenkasi with the aim to train and absorb local talent into factory operations, and hope to generate employment for over 150 people in the next two years," said MSD Prasad, CEO of Karuvi.

Prasad further said that the company will add more tools to its portfolio and plans to have at least 30 products by the end of 2025.

"We are also working to create a network of suppliers so that we can source all components locally," Prasad added.