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embedUR systems, the US-based embedded technology company, on Wednesday pledged to invest Rs 500 crore over the course of five years in Chennai to increase its India presence. The investment will help the company, whose majority of employees are based out of Chennai, strengthen its expertise in AI, Edge Computing, cyber security, and connectivity.
Rajesh C Subramaniam, founder and CEO, told a press conference here that the company has already invested Rs 150 crore in its Chennai centre and will begin infusion of fresh investment of Rs 500 crore from 2024. “We will start with Rs 100 crore next year,” he said.
Subramaniam said the company will only function from Chennai in India and that the embedded systems market is expected to grow multi-fold in the coming years, due to the consistent advancement in technology and increasing sales of smart devices, wearable and automation of the industrial sector.
“This investment of ours, will further strengthen our capabilities, allowing us to harness India’s incredible engineering talent pool to fuel innovation and future growth. We are confident that this investment in India along with our experience and expertise will place us at the top of this transformative future trend,” he added.