According to reports, there is a world of difference between the courtyards of Tirupati and Shirdi and the corridors of top B-schools, but a start-up that had built solar cookers for these temples has just made the transition in style.
Flareum Technologies, a brainchild of the 34-year-old Badal Shah, created a few ripples this placement season hiring 35 graduates from 16 top B-schools including five IIMs. To put that in perspective: IBM, India’s largest hirer from these schools according to a recent ET study on India’s Top Recruiters, hired 96. Infosys hired 86.
Flareum Technologies, whose revenues have grown to nearly 10 crore in 2011 from 1.9 crore in 2008, also hired MSc graduates and PhD holders from the five IITs and the National Institutes of Technology.
Armed with a $12-million funding commitment from investor IFC, Flareum wants to use its band of new managers to create more IPR, develop new solar products and net more large corporate customers. Eventually, it wants to take its wares to Asia and Africa.
“We have begun the process of filing for patents and we don’t rule out acquiring some too,” says Badal Shah, CMD, Flareum.