Excerpts from the story:
[Ajay Bhagwat] has a Bachelor of Technology from the prestigious Indian Institute of Technology (IIT, Powai) in Mumbai and an MS in Electrical and Computer Engineering from University of Iowa, USA. It was when he was in the USA that Ajay Bhagwat realised that the technology he was learning about would be useful in the manufacturing units in India. After refusing jobs in reputed firms in the USA, he chose to move back to India. And thus, Renu Electronics was conceptualised.
As for funds for the start, we used the royalties we had earned from the technology we had licensed (reverse license) to quite a few US, German and Dutch companies. Our customers were willing to pay for the technology
The USP of Renu Electronics is that our products are made for industrial’s rugged environment which can work without any fault in -22 degree Celsius to 70 degree Celsius and also in humidity.
and about their future plans:
We are planning to diverse in home automation, medical industry to reach the bottom of the pyramid.