The company was valued at Rs 20 crore when it started an investor buyout from EP incubator stakeholders for ₹94.64 lakhs, which represented a 36X increase in EP's investment
Electropreneur Park (EP) has announced a significant development in the Indian Electronics System Design and Manufacturing (ESDM) market. Univlabs, a prominent Indian health-tech startup, has made an exit after achieving impressive success. Univlabs Technologies has expanded its reach to 6 countries, offering innovative solutions to over 2,000 hospitals in India and abroad. They have also applied for 11 patents and already secured 2.
Electropreneur Park is a project initiated by the Ministry of Electronics and IT, with the goal of supporting emerging ESDM entrepreneurs by providing incubation and building a supportive environment. EP is managed by Software Technology Parks of India and executed by the India Electronics and Semiconductor Association (IESA). Since its beginning, EP has nurtured 59 companies, resulting in 125 products and 66 patent applications, while also creating job opportunities for 885 professionals. The start-ups at EP have received follow-on funding amounting to Rs 21.79 crore.
The start-up received a valuation of Rs 20 crore and initiated an investor buyback from stakeholders of EP incubator worth Rs 94.64 lakhs, marking a 36X growth for EP’s investment thereby marking a milestone in EP’s history. With this, Univlabs' successful exit leaves an impressive footprint of Electropreneur Park’s role in fostering innovation and entrepreneurship over the past seven years of its operations.
“It’s quite inspiring to meet and learn the journey of Sunil Singh, founder of Univlabs Technologies. The level of confidence, vision, and ability to persevere over the last eight years have been crucial for his success,” said Shri S. Krishnan, IAS, Secretary, Ministry of Electronics and IT.
On the successful and profitable exit of UnivLabs, Arvind Kumar, director general, STPI expressed how Electropreneur Park has been successful in fostering innovation and entrepreneurship and said “In the last few years since it was set up, Electropreneur Park has incubated ESDM start-ups aligning with India’s commitment and vision to reach $300 billion worth of electronics manufacturing and exports of $120 billion by 2025-26, this progress is a promising development.”