Inflection Point Ventures is leading the $250K Seed Series Round that Mushin Innovative Labs has raised. Mushin Innovation Labs is to use the funds it has raised to improve its marketing and sales operations, speed up its R&D, and encourage innovation in its range of products.
Mushin will be able to improve its product offerings, increase its market presence, and provide innovative solutions that meet the changing needs of the automotive manufacturing industry by concentrating strategically on these areas. By using this strategy, the business hopes to boost expansion, improve client connections, and maintain its position as the industry leader.
With its cutting-edge digital solutions, Mushin Innovation Labs, a trailblazing SaaS startup, is revolutionizing the automotive manufacturing sector. The company offers operational excellence and up to 85% cost reduction to Tier 1 and Tier 2 manufacturers by enhancing quality control and optimizing compliance through its flagship platform, Mushin AQUA.
In a market that is changing quickly, Mushin is committed to promoting innovation in automobile production, encouraging teamwork, and assisting clients in achieving sustainable growth under the direction of a team with a wealth of industry experience.
Mushin Innovative Labs provides a state-of-the-art real-time audit automation solution by utilizing more than 40 years of combined experience in the automotive manufacturing industry.
The company’s platform provides a highly customized solution that is suited to the unique requirements of every plant and is designed to meet the strict criteria of IATF, VDA, and ISO compliance.
Mushin reduces expenses by up to 85% by optimizing audit and operational procedures. The company operates in an environment where there is no direct local rivalry because it was a pioneer in the Indian automobile market. Furthermore, Mushin incorporates AI/ML capabilities to support predictive analytics, paperless processes, and greatly increased productivity.
Mushin Innovation Labs serves Tier 1 and Tier 2 automakers with its state-of-the-art compliance and quality management solutions both domestically and internationally. Serving well-known automakers and promoting digital transformation and sustainable growth in a cutthroat global market, the company has a significant global footprint.
In just two years, Mushin Innovation Labs has onboarded 70 factories and formed alliances with 15 Automotivetop automakers, demonstrating its remarkable progress.
Strong industry confidence in the company’s solutions is demonstrated by the fact that it passed the Maruti Vendor System Audit (VSA) and received Letters of Intent (LOIs) from 15 factories.
Mushin is still growing, with 14 deployments underway and a strong pipeline of 52 factories. Further confirming the company’s influence in the automotive sector, it has attracted interest from prominent international OEMs such as Volkswagen, Skoda, Volvo, JCB, and Aston Martin.
Mushin Innovation Labs works in a very lucrative and expansive industry. According to estimates, the automotive manufacturing sector’s total addressable market (TAM), which is pertinent to their product Mushin AQUA, is worth INR7 lakh crore a year.
The annual value of the serviceable available market (SAM), which primarily targets Tier 1 and Tier 2 manufacturers in India, is INR45,000 crore. The sector has significant growth potential, as seen by the serviceable attainable market (SOM), which stands at INR4,500 crore yearly based on the company’s present capabilities and market emphasis.
Key Comments
Rachit Srivastava, Founder & CEO, Mushin, says, “At Mushin Innovation Labs, we are committed to transforming the automotive manufacturing industry with innovative digital solutions that redefine compliance and enhance quality. As Henry Ford aptly stated, “If everyone is moving forward together, then success takes care of itself.” Guided by the philosophy of the Bhagavad Gita, “You have the right to perform your prescribed duties, but you are not entitled to the fruits of your actions,” we focus on the journey of continuous improvement and innovation. We believe that dedication to excellence and a shared vision will drive the future of automotive manufacturing.”
Rachit Srivastava, Founder & CEO of Mushin is a B. Tech graduate in Electrical Engineering from Delhi Technological University. He is a product development and technology expert with experience at Philips India, where he contributed to IoT innovations such as Philips Hue and smart lighting systems for the Yamuna Expressway. He also holds a US patent for his work in IoT and has developed technologies for organizations like DRDO, ISRO, and NPCIL.
Amman Batra, Co-founder & COO, brings over 13 years of experience in the automotive manufacturing industry. A graduate in Mechanical Engineering from Florida Tech, USA, Amman has worked with top-tier companies like Maruti Suzuki as an ancillary supplier. He is a VSA & VSME certified professional and a Kaizen Award winner, having successfully led automotive factories with turnovers exceeding ?50 Cr. Together, they aim to revolutionize audit and compliance management for Tier 1 and Tier 2 manufacturers.
Vikram Ramasubramaniam, Partner and CIO, Inflection Point Ventures says, “The automotive manufacturing industry has stringent compliance standards to follow while minimizing costs and maintaining top-notch quality. Many Tier 1 and Tier 2 manufacturers struggle to meet these demands efficiently due to fragmented processes and outdated systems. Mushin Innovation Labs addresses this challenge and streamlines compliance and enhances quality management in an accessible price range, making lives easier for tier 1 & 2 manufacturers. IPV believes Mushin is well-positioned for sustainable growth, making it a right investment choice.”
