Start-ups in the country seem to have caught the eye of German med-tech major Carl Zeiss who is scouting for investment opportunities, according to Dr Markus Weber, Member of the Executive Board of the ZEISS Group and head of its medical technology segment.
“India is on the radar. We are screening constantly for new opportunities and would be very happy to invest in startups in India,” Weber, also the President and Chief Executive of Carl Zeiss Meditec AG, told businessline in an exclusive interaction.
Screening is a continuous process for the ZEISS Group, not just in ophthalmology but the entire portfolio, he said, adding that it was still early days. “We have a dedicated team named “ZEISS Ventures” which actively screens startups and companies that could be of value add to us. They (ZEISS Ventures) scout for such associations across ZEISS locations and portfolios,” he added.
The lookout would be for new technologies, that could be in hardware, software or sensoric, he said, adding that they would need to have an understanding of the application and its purpose and how it would help shape the market. India has strong competencies and the company would like to utilise them to enrich its portfolio, he said, referring to their screening that has resumed as Covid-linked travel restrictions lift across the world.
India is important, both as a site and market, he said, adding that it would continue to invest in local operations that could be a door to South East Asia. India is also part of its changing supply chain strategy, he said, given present geo-political concerns. The multinational has a production-facility under construction near the Bengaluru airport. It would mass manufacture for Zeiss and cater predominantly to vision care, with plans to expand to other facilities later, a company executive said. The first phase of this facility is expected to be ready, early 2025.
In its 177 th year, the group has been in India for about 25 years, employs 1,100 people (about 450 in med-tech) and has clocked an annual turnover of ₹1,500 crore. India is one the fastest growing markets for the ZEISS Group, company officials said, and its local portfolio includes 17,000-plus devices installations, 6000 customers and application of its medical equipment in segments including Opthalmology (chronic eye disease management etc) and microsurgery (Neuro, ear-nose -and-throat, spine and dental uses), to name a few.
