In 1972, Romesh Wadhwani developed his inaugural software, focusing on energy management and security systems for commercial buildings.
Romesh Wadhwani’s life story is truly inspiring. Born just 10 days after India gained independence in 1947, he had to endure the hardships of the partition. As a refugee, he arrived in Delhi. At the tender age of 2, he was diagnosed with polio. Nevertheless, despite these challenges, he managed to overcome adversity and went on to become one of the wealthiest individuals globally. Currently serving as the chairman of SymphonyAI and Concert AI, his ventures are valued at over Rs 32,000 crore.
Born in Karachi, he relocated to India as an infant. Demonstrating an exceptional aptitude for academics, he successfully obtained his B.Tech degree from IIT Bombay. In pursuit of higher education, he ventured to the United States in 1969 with a mere sum of 2.5 dollars. Determined to broaden his knowledge, he embarked on a journey to earn his Ph.D. in electrical engineering from the esteemed Carnegie Mellon University. Fueled by his entrepreneurial aspirations, he actualized his dream of establishing his own company at the age of 25.
In 1972, Romesh Wadhwani developed his inaugural software, which was designed to address energy management and security in commercial buildings.
Romesh Wadhwani approached 125 companies seeking investment, but only one company saw the potential and decided to invest. Despite facing rejection 124 times, he persevered. Eventually, he made the decision to sell his business.
Additionally, Romesh Wadhwani ventured into the field of robotics by establishing a robot company. His initial two companies achieved moderate levels of success.
Later on, Romesh Wadhwani relocated to Silicon Valley and proceeded to establish his third company.
He experienced a rebirth as an entrepreneur.
In the year 2000, Romesh Wadhwani successfully sold a company he had acquired for a staggering sum of 9.3 billion dollars.
In 2002, Romesh Wadhwani founded Symphony Technology Group, a private equity firm specializing in software investments. By 2012, the firm had achieved a remarkable revenue of 2.5 billion dollars.
Wadhwani established Symphony in 2017. By 2021, the company had generated a revenue of 220 million dollars.
Romesh Wadhwani’s brother, Sunil, took the initiative to inaugurate the Wadhwani Institute of Artificial Intelligence in Mumbai, marking India’s first AI institute. The project received a substantial investment of Rs 200 crore from the Wadhwani family.
Romesh Wadhwani has committed to donating 80 percent of his wealth to charitable causes, with a significant portion allocated to initiatives in India. In recognition of his philanthropic efforts, he was bestowed with the prestigious Padma Shri award in 2020.