Having been a part of dinner table conversations revolving around their family business since childhood, it was only a matter of time before Chintan and Harit Soni started up. After completing their higher education, the two brothers decided to put their entrepreneurial dreams on hold to learn the fundamentals of the corporate world. They started out separately — Chintan worked on producing biofuel from algae while Harit established a carbon trading firm. The unmet need for high initial investments, early state of the market, and lack of support systems led to shelving of their ventures. However, they did not lose their enthusiasm and came together in 2010 to establish Ecolibrium Energy, a pathbreaker in the Indian energy analytics space.
Ecolibrium Energy equips businesses to improve their asset efficiency with IoT powered predictive analytics. The brothers have worked closely with their customers to develop intelligent algorithms that adapt to varied usage patterns, analyse data, and identify potential for more efficient consumption of energy. Today, Ecolibrium Energy manages over 1200 MW of power consumption and partners with nearly 500 corporates such as FIAT, Suzuki, Coca Cola etc.
“Have no fear of rejection, or failure, because there is no other option but to succeed.”
Chintan and Harit recall the hard times during their initial years. Once the company almost ran out of cash. Negotiations for a funding round were taking longer than expected and it had become clear to them that they wouldn’t be able to pay salaries to their employees (the brothers did not draw a salary at that time). Their team, the disguised heroes, unanimously decided against Ecolibrium taking a loan and volunteered to wait one or two months for their salaries.
Such displays of support and trust have only deepened Chintan and Harit’s belief in the power of people. The brothers consistently strive to provide their team an environment conducive for learning and growth. Chintan sends personalized letters to the parents of his team members, pouring his affection and concern towards them and the respective team member. Such acts have enabled them to build a close-knit team with enviable credentials and a tremendous sense of ownership.
Their deep trust in each other and the unflinching commitment of their team have enabled Ecolibrium Energy scale unprecedented heights. The brothers have also grown remarkably through this journey. Chintan now embraces anxiety and engages readily with various stakeholders, while Harit has become more methodical and delegates more easily. The brothers are now eyeing the global market. With their unerring focus and a deeply committed team, there is no stopping Chintan and Harit.
About the Startup:
Ecolibrium Energy are the creators of tomorrow’s innovation in Energy and Asset Management for Industries, Buildings and Cities. The name represents an environment which utilizes all forms of Energy in an ecologically balanced manner. A globally awarded company, Ecolibrium helps enterprises embrace the digital era with easily implementable IoT and AI based solutions for substantial energy savings, and enhanced asset productivity. The company aims at reimagining a tomorrow where every watt counts.
CIIE Initiatives has recently completed 10 years of its incorporation. We are proud to present the book “CIIE — Celebrating 10 years of Experiments and Entrepreneurs” which chronicles the last decade of CIIE Initiatives and celebrates the stories of heroes aka its entrepreneurs.
