Prof. Shashikanth Suryanarayan

IIT Bombay has long been a cradle of innovation, nurturing ideas that evolve into game-changing enterprises.

One such success story is Sedemac Mechatronics, a powertrain controls and auto parts manufacturer that was incubated at the Institute in 2007 by Prof. Shashikanth Suryanarayanan and his students, Mr. Pushkaraj Panse, Mr. Amit Dixit, and Mr. Manish Sharma. Prof. Suryanarayanan, an associate professor in the mechanical engineering department, brought his expertise in mechatronics—an interdisciplinary field combining electronics and mechanical engineering—to shape Sedemac’s vision for intelligent powertrain solutions.

Sedemac Founders Mr. Manish Sharma, Mr. Amit Dixit, and Prof. Shashikanth Suryanarayan
Image Courtesy: moneycontrol

Now, nearly two decades later, Sedemac is preparing for an Initial Public Offering (IPO) to raise between Rs 800 crore and Rs 1,000 crore, according to sources familiar with the matter. This move follows a $100 million funding round from Xponentia Capital Partners, A91 Partners, and 360 ONE Asset, which valued the company at $230 million. The firm has previously attracted marquee investors, including Infosys cofounder Mr. Nandan Nilekani, who invested $7.5 million in 2017, and Iron Pillar, which reportedly invested $8 million in 2018. It has also secured funding from Nexus Venture Partners and India Innovation Fund, collectively fuelling its growth over the years.

Sedemac’s technology powers small engines, electric vehicles, and e-bikes, optimizing efficiency and performance. The company’s name—an acronym for “Separating Decision Making from Actuation”—reflects its focus on intelligent control systems that enhance automotive power generation. With development and manufacturing facilities in Pune, Sedemac serves major Indian OEMs, including Hero Motocorp, Mahindra, and TVS. The firm has grown significantly, clocking Rs 650 crore in revenue and Rs 120 crore in EBITDA for FY25. The IPO comes at a time when India’s primary market is witnessing a resurgence, with increasing investor interest in tech-driven industrial and manufacturing firms.

IIT Bombay is extremely proud that Sedemac’s journey, which began in an incubator lab at the Institute, is now set to go public. The success of this venture is a testament to the Institute’s role in fostering deep-tech entrepreneurship and driving India’s technological and economic progress. IIT Bombay also actively nurtures its faculty, providing them with the resources, research ecosystem, and collaborative opportunities needed to translate cutting-edge ideas into impactful ventures. By empowering faculty-led innovations, the Institute continues to shape industries, fuel technological advancements, and contribute to India’s growing startup ecosystem.