embedUR Announces ₹500 Crore Additional Investment in Chennai

embedUR Systems, the US-based embedded technology company, has unveiled plans to inject an additional ₹500 crore into its operations over the next five years to bolster its capabilities in emerging technologies, including artificial intelligence and edge computing. The announcement was made by the company's founder and CEO, Rajesh C Subramaniam, during a press conference.

Over the past two years, the 20-year-old firm has already channeled ₹150 crore into its Chennai center, which currently boasts a workforce of 310 employees, out of the company's total global headcount of 355, Subramaniam revealed.

The initial phase of this expansion will involve an investment of ₹100 crore in 2024, leading to an expected increase in the employee count to approximately 500 within a couple of years.

embedUR Systems specializes in providing software solutions for electronic chips embedded in millions of devices worldwide, ranging from smart medical badges and energy meters to mining equipment, smart tractors, and Wi-Fi routers.

The fresh capital infusion will be funded through the company's internal accruals, as embedUR Systems has not sought external funding thus far. Subramaniam also noted the company's intent to explore potential acquisitions as part of its expansion strategy.

Subramaniam emphasized the growing significance of new technologies like Cloud/AI, combined with the increasing affordability of electronic components, which has generated a surge in demand for embedded technologies across various industries. The research and development efforts will primarily be centered in Chennai, a city renowned for its exceptional engineering talent and the potential to evolve into a global hub for embedded systems.

While the company is contemplating the establishment of a new center in Coimbatore, Subramaniam clarified that a final decision has not been reached on this matter.

HBL