2025 Power 100: Bhaskar Panigrahi
Photo I Courtesy of ConnectM Technology Solutions
Bhaskar Panigrahi, Chairman and CEO of ConnectM Technology Solutions
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Panigrahi leads the charge of ConnectM, which in August was named the second-fastest growing company in Central Massachusetts and the 104th in the nation in Inc. magazine's list of the 5,000 fastest-growing companies. The publicly traded clean energy technology firm earned its rankings after reporting growth of 3,078% from 2020 to 2023.
In September, Panigrahi served as the chair of TiECON East, an annual convention produced by TiE Boston, a Cambridge-based entrepreneur support nonprofit. The conference drew hundreds of participants and featured keynote speaker Deepak Chopra.
Panigrahi worked to further grow his company’s footprint on an international scale, navigating ConnectM through the November acquisition of MHz Invensys, a wireless communication product developer out of India, and the October purchase of Danvers-based Green Energy Gains.
After receiving a delisting notice that the company had failed to meet the $50-million market value required of listed securities on the Nasdaq stock market, ConnectM stated it planned to appeal before the Nasdaq panel. Almost exactly a month later, it was announced the company was considering a $62-million buyout from three of its largest institutional investors. On April 15, ConnectM submitted a filing with the U.S. Securities and Exchange Commission stating that its third quarter report of 2024 could not be relied upon due to material errors. The company was delisted from the Nasdaq on May 8.
Mica Kanner-Mascolo is a staff writer at Worcester Business Journal, who primarily covers the healthcare and diversity, equity, and inclusion industries.
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