Elevators and escalators manufacturer Kone on Saturday has set up a new technology centre in Pune at a cost of around Rs 10 crore.
The company has taken 20,000 sq ft office space on lease in Pune to set up this centre. About 120 people will work from this facility.
The operations in Pune will focus on enterprise monitoring, service management for IT Solutions and digital development competencies for smart people flow solutions.
With stronger research, technological development and engineering collaboration in India, Kone India MD Amit Gossain said the company could serve the growing Indian market with even more innovative solutions.
He said Kone India has recently launched the 24/7 IoT connected elevators and escalators service technology in India to ensure less equipment downtime and fewer faults.
"In collaboration with the recognised leader in cognitive computing, IBM Watson, this is yet another breakthrough innovation that will result in fewer faults, faster repairs and real peace of mind for the customer," he said.
The total cost to set up the technology and innovation centre in Pune is Rs 8-10 crore, he added.
Innovation has been a strategic imperative for Kone globally. Constantly developing our technology is an integral part of our commitment to improve the flow of urban life...," said Maciej Kranz, EVP- Chief Technology Officer, Kone Corporation.
The company has a manufacturing plant and technology centre in Chennai which caters to the domestic market as well as exports to Bangladesh, Nepal and Sri Lanka. It has close to 25 per cent market share in India in both value and volume terms.
In 2018, Kone had annual net sales of EUR 9.1 billion, and at the end of the year over 57,000 employees. Kone India has about 5,000 employees.