Numocity's rise & why ABB, a Fortune500 company, acquired them for global impact in the EV industry
Updated: Jul 18, 2022
In this episode of theUpStreamLife.com the founders of Numocity, Ravikiran Annaswamy and Siddharth Sreenivasan, talk about why technology becomes essential to manage power grids, EV fleets and charge points as many more electric vehicles plug-in to draw energy.
Numocity literally ensures that there is no load on the grid and there is seamless management of energy for EV operators & charge points.
We are also joined by the founder of Ideaspring Capital Naganand Doreswamy.
00:00 - Introduction to Numocity and Ideaspring Capital
01:00 - Naganand Doreswamy sets the context of why Numocity's technology matters.
02:55 - Founders of Numocity speak about their technology and the difference they can make to charge point operators
06:30 - Standardisation in EV Charging in India and why we are still some time away, drawing parallels from the early telecom industry.
11:00: From fund raise to strategic acquisition by ABB.
15:20 - Numocity's impact to customers
19:45 - Do founders make money in acquisitions and why the product story from India for the world is here to stay.
23:18 - Summing up ABB's bet on Numocity.