
History of Vortex
After his graduation from IIT Mr.Kannan decided not to seek employment and spent the next 10 years trying to find answers to many of his questions.He was part of many groups including the Narmada Bachao Andolan.During the early 90’s of the internet was becoming popular in Indian metros and a research group in IIT was exploring the possibilities of services that can be taken to the rural areas with the network. Mr. Kannan was part of this group and realised that people in rural areas had bank accounts but never used them since ATMs and banks are usually far away from their villages. So they usually kept their hard earned money under their pillows and spent it on things which were not dire necessities but rather wants. Hence they were running low on savings for basic needs like health care and seeds for farming. The ATMs installed by banks were not effective due to technical issues. So Mr.Kannan planned to make an much user friendly ATM. But the only thing he knew about ATMs was that it gives money! So he made a hand-cranked machine which dispensed money through a slot.He showed it to his IIT professor,Professor Jhunjhunwala. Mr.Jhunjhunwala was amazed at it and he called an investor.The investor gave financial aid to Mr.Kannan and with this money he founded the company Vortex.