Energetica India Magazine October 2022

Q Tell Energetica India Magazine readers in brief about Sheru includ- ing its vision. Ankit Mittal: Sheru’s vision is to enable the growth of India’s renewable energy and create a positive impact on society. We are thus working on creating a vir- tual energy storage platform for energy companies to store power. Since our in- ception in Delhi in 2019, we have been growing rapidly and are now an organ- isation with 50+ employees and over Rs 20 crores of annual revenue, and scaling up. Q Shed some light on your educational background, achievements, and ex- periences across sectors, along with other founders. Ankit Mittal: Sheru was founded by me along with my two friends Shikhar Shar- ma and Nakul Mehan. We all are grad- uates of India’s premier engineering school BITS Pilani. Prior to founding Sheru, we worked at the robotics startup GreyOrange robotics and helped grow it into the unicorn that it is today. Q How did the idea of forming Sheru come into existence? Ankit Mittal: Since our college days, we wanted to work on sustainable technolo- gies that make an impact on society. We later realised the opportunity in India’s energy sector and took the entrepreneur- ship plunge and started Sheru in 2019. Q Kindly shed some light on virtual energy storage on the cloud. Ankit Mittal: Virtual energy storage on the cloud simply means that we ag- gregate storage capacity from various sources and present it to users. Custom- ers who require energy storage solutions do not have to build out storage capaci- ty for their needs. This significantly re - duces their CAPEX requirements and makes energy storage affordable. Q Significance of energy storage in the grid. Ankit Mittal: India’s renewable energy T he government is proactively working on increasing the ease of doing business for international investors looking to invest in startups in the country. We feel that, along with ongoing efforts, the ease of raising capital for startups from foreign entities can be increased. In an exclusive interaction series with startup companies in the energy and mobility space, Manu Tayal , Senior Associate Editor, Energetica India, interacted with Ankit Mittal , Co-founder and CEO, Sheru. Here’re the edited excerpts from that interaction: 24 energetica INDIA- October_2022 EMERGING INNOVATORS Co-founder and CEO Sheru ANKIT MITTAL