Products ATMs, Cash Acceptors Website vortexindia Area served Bank | Services ATM Managed Services Founded 2001 Number of employees 201-500 | |
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Key people L. Kannan, Founder-CTO; Headquarters No 6B, 6th Floor, IIT Madras Research Park, Chennai, India | ||
Technology pioneer 2011 vijay babu vortex engineering
Vortex Engineering is an India-based company making self-service transaction systems (such as ATMs) for banks. Vortex also offers services for ATM Management.
Contents
- Technology pioneer 2011 vijay babu vortex engineering
- Kannan lakshminarayan founder cto vortex engineering pvt ltd
- History
- Products Services
- Software
- Awards Recognition
- References
Vortex ATMs are also now used in several countries outside India, especially in Asia & Africa. Vortex is backed by investors: Tata Capital, Aavishkaar, Ventureast, Oasis and IFC (A World Bank subsidiary).
Kannan lakshminarayan founder cto vortex engineering pvt ltd
History
Vortex was founded by an IIT Madras alumni, L.Kannan in 2001. Around 2004-05, they ventured into ATMs. Their first pilot deployment was for disbursal of NREGA wages through their ATMs in Tamil Nadu, in association with IIT Madras in 2008.
They made their first major break though with the winning of an order for 545 ATMs including 300 solar powered ATMs from the State Bank of India. Vortex ATMs are now currently used in almost all states of India.
Products & Services
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. 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..
Software
Vortex Ecoteller is the only Automated teller machine operates on Linux platform.
Awards & Recognition
The company has been selected as one among the 10 start-ups that will change your life by TIME magazine. Vortex has won the following recognitions - 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. Vortex has also been selected to join the Business Call to Action (BCtA) global initiative, which encourages private sector efforts to develop inclusive business models that can have both commercial success and a positive impact in development. Recently Vortex has been awarded with Frost & Sullivan-Technology Innovation Award-2012 for Solar Powered ATM. Vortex ATMs have been pioneered as the first ATMs to be used for transparent last mile delivery of government welfare schemes like MGNREGA. Vortex Engineering and their founders featured in amazing Indians on times now