Panasonic's Venture Fund Commits Rs.450 Crore to Global Start-ups

01 Apr 2024 CW Team

In a strategic move to foster innovation and address global social challenges, Panasonic Corporation's Corporate Venture Capital Fund, Panasonic Kurashi Visionary Fund (PKVF), has announced a commitment of ?4.5 billion to support start-ups across India, Japan, and Europe. Kunio Gohara, the Chief Transformation Officer (CTRO) and Head of the CVC office at Panasonic Corporation emphasized the fund's dedication to investing in ventures that aim to enrich and transform people's lives.

PKVF, established with the mission to tackle social problems globally, is set to focus on a range of critical areas including well-being, decarbonization, energy, food, spatial infrastructure, and emerging lifestyles. This comprehensive approach underscores Panasonic's commitment to contributing positively to society while fostering innovation.

Manish Sharma, Chairman of Panasonic Life Solutions India, highlighted the significance of this initiative in the context of India's vibrant start-up ecosystem. With over 1.25 lakh start-ups and 110 unicorns, India stands as the world's third-largest start-up hub. Sharma expressed Panasonic's eagerness to engage with this dynamic ecosystem and contribute to its growth trajectory through strategic investments and partnerships.

Panasonic's commitment to fostering innovation in India is further underscored by its establishment of the India Innovation Centre in 2017, backed by an initial investment of ?2.4 billion. This initiative demonstrates the company's long-term vision and dedication to leveraging India's potential as a hub for technological innovation and entrepreneurship.

As Panasonic continues to expand its footprint in India and beyond, the PKVF initiative reaffirms its commitment to driving positive change and innovation on a global scale. Through strategic investments in start-ups and initiatives focused on addressing pressing social challenges, Panasonic aims to create a brighter and more sustainable future for communities around the world.