embedUR systems, the US-based embedded technology company with most of its employees working in Chennai, will invest another ₹500 crore in the next five years to strengthen its expertise in new technologies. This includes artificial intelligence and edge computing, the company’s founder & CEO Rajesh C Subramaniam told newspersons.
In the last two years, the 20-year-old company had already invested ₹150 crore in its Chennai centre, which employs 310 people out of the total 355 globally, he said.
Expansion
In the first phase of the expansion, embedUR will invest ₹100 crores in 2024. The employee headcount in the city will increase to around 500 in a couple of years.
embedUR provides software for electronic chips deployed in millions of embedded devices across the globe. This includes smart medical badges, smart energy meters, mining equipment, smart tractors and Wi-Fi routers.
The fresh investment will be through internal accrual of the company, which has so far not got any external funding, he said. “As part of the expansion, we will also explore acquiring any company,” Subramaniam added.
Subramaniam said with the evolution of new technologies such as Cloud/AI and increasing affordability of electronic components, the company foresees an unprecedented demand for embedded technologies across industries. The R&D will happen out of Chennai, which has the best talent pool in engineering and an immense potential to develop into a Global Embedded Systems Hub.
The company is also exploring to set up a centre in Coimbatore. However, no decision has yet been taken, he said.