Zeus Numerix, IIT Bombay Incubated Firm, Gets $500K Seed Funding

May 19, 2008 | by Sahad P V

Zeus Numerix Pvt Ltd, an engineering design services company incubated at IIT Bombay, has received Rs 2 crore ($500,000) funding from a group of high-net worth individuals led by investment bank Saltrock Advisors Pvt Ltd. Zeus is founded by a group of IIT-B professors and students. The company has the backing of 10 years of R&D at Dept. of Aerospace, IIT Bombay.
Zeus was founded in August 2004, and it specialises in computational fluid dynamics (CFD) tools and services. It has a global customer base across a diverse set of industries, including aerodynamics, automobiles, missiles/rockets, nuclear reactors and buildings, electric fans & motors etc. The company owns a proprietary platform and series of intellectual property in this domain. According to a release issued by the company, Zeus Numerix had been profitable since its inception, and had risen from a revenue base of Rs 20 lakh in 2004-05 to Rs 2 crore in 2007-08.