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There is potentially a big market for new automobile technologies, said an April 2011 report by Cisco’s
Internet Business Solutions Group (IBSG). If the automotive industry could build on what smartphones
did for the phone industry, cars would become “personal digital assistants (PDAs) on wheels,” and could
evolve into personal gadgets, outstripping smartphones or tablet PCs, according to the IBSG report.
The advent of vehicle connectivity opens up completely new service and pricing options for automotive
manufacturers with an estimated revenue potential of $680 per vehicle per year, IBSG said.
The report cited a few examples of cars without drivers. In 2010, for instance, Google Inc. demonstrated
a driverless Toyota Prius while an unmanned Audi climbed Pikes Peak Mountain in Colorado. Fiat,
Volkswagen and Hyundai have evolved similar technologies, it said.
The automobile electronics market is a large one globally, said Alok Mittal, managing director of Canaan
Partners India, a technology focused venture capital fund. “India is a big market for such offerings and
also has a big export potential. A local innovation could have a big gain,” Mittal said.
Intel Capital, which invested $56 million across 17 transactions last year, is hopeful of striking a few new
deals and making some exits this year. Multi Commodity Exchange of India Ltd (MCX), one of its
portfolio firms in India, came up with its initial public offer recently. The fund isn’t exiting the exchange.
“A few of our companies are in discussions for acquisitions,” said Kuppam, adding there are investment
opportunities in the cloud computing space, besides information technology for education and
healthcare, software services and audio-video streaming platforms.
However, high valuations of start-ups in India deter global investors, according to Kuppam. “With high
valuations, returns potential goes down,” he said. “There are 40 active venture capitalists in India and if
you want to sustain them, the market needs to generate better returns on exiting the portfolio.”
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Monsanto opens Rs. 28 crore seed conditioning facility at Shamirpet
Monsanto India has opened a hybrid seed vegetable conditioning unit at Shamirpet .The Rs 28-crore
facility, built on 32 acres, deploys latest techniques in seed conditioning, treatment, drying and
packaging.
The facility has a capacity to condition and package 15 million units of seeds a year. The facility can store
up to 200 tonnes of packed seeds under controlled temperature. “It is important to equip farmers to
produce more in order to meet the demands of a growing economy,” Ms. Consuelo E. Madere, Vice-
President (Global Vegetable and Asia Commercial) of Monsanto, said after the inauguration.
“This will be an integrated unit for both vegetable and row crops, with 7 acres dedicated for vegetable
plants and 25 acres for corn plants,” the Executive said. “This plant is aimed at making better quality
seeds more easily accessible to farmers from the region. We will also be providing training on good
agronomic practices and extension services to farmers,” said Mr. Amitabh Jaipuria, Managing Director of
Monsanto.
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Enterprise Mobile Apps Provider Andare Acquired by California based UST Global
US-based enterprise mobile applications and CRM provider Andare has been acquired by UST Global, a
major provider of services and solutions for Global 1000 and Fortune 500 enterprises. However, the deal
value is not immediately known. The acquisition will enable UST to utilise Andare’s flagship enterprise
mobility solution iDispatch.