Vortex Engineering

2001

For-profit

Environment

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Founders


Details


Region of operation

India

Headquarters address

Vortex Engineering Private Limited No 6B, 6th Floor, IIT Madras Research Park, No.1. Kanagam Road, Taramani Chennai 600 113, Tamil Nadu, India. Phone: +91 44 66 33 9700 Mobile: +91 9500001142 Country: India Zip: 600113

Target problem

The enterprise is solving the problem of energy shortage by building solar powered ATM(Automatic Teller Machine).

Key product / Service

Solar powered ATM

Team size

101-500

Number of beneficiaries

750

Awards and recognition

  • Srijan Award 2009 for Technology Innovation in Financial Inclusion
  • Finalist for The Wall Street Journal Asian Innovation Awards 2010
  • one of Technology Pioneers 2011 by the World Economic Forum
  • Frost & Sullivan-Technology Innovation Award-2012 for Solar Powered ATM.

Funding and Operating Model


Funding round

Series B

Total funding raised

Business details

Powered by 9 patents, Vortex is the world’s lowest power consuming ATM,future-One ATM/ Village i.e 6,50,000 ATMs.the current number of 1,20,000 ATMs would skyrocket to 4,00,000 in the next four years

Partners and key clients

Vortex is backed by investors: Tata Capital, Aavishkaar, Ventureast, Oasis and IFC 545 ATMs including 300 solar powered ATMs from the State Bank of India

Images and trivia


Image gallery

Trivia

Vortex Ecoteller is the only Automated teller machine operates on Linux platform.Vortex has specifically designed ATMs that could operate(up-to 50-degree-Celsius) at any conditions in the world. The ATMs manufactured by Vortex consumes very less power and constitutes very less mechanical and electrical parts as compared to other conventional ATMs. [5] All the Vortex ATMs come with solar power options for greater availability in areas having severe power shortage, whereas no other ATM is commercially viable to be operated with solar power due to its higher power consumption.

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