Japanese conglomerate Mitsubishi Electric Corp said Thursday its India subsidiary will acquire a stake in Gervigreind Data Science Pvt. Ltd, an Indian software startup operating as Itanta Analytics.
The investment by Mitsubishi Electric India Pvt Ltd aims to enhance the development and sale of no-code data-analysis and report-generation applications, the conglomerate said in a statement.
It didn’t disclose financial terms of the transaction.
Pune-based Itanta was set up in 2019 and is led by CEO Prasad Toke and CTO Harshad Bhagwat. The company forayed into the international markets in 2021 and opened an office in Germany in 2023, its website shows.
Mitsubishi said the deal will bolster its factory automation (FA) digital solutions business. The collaboration will integrate Itanta’s cost- and time-efficient applications with Mitsubishi’s FA equipment and FA software.
By leveraging no-code engineering, the partnership seeks to accelerate the digital transformation of manufacturing sites worldwide, the Japanese company said.
Mitsubishi also said that, by partnering with software firms, it aims to drive automation and digitalisation across various manufacturing stages, including design, production, testing, operations, and maintenance.