Brothers Danny and Dinesh Wadhwani immigrated from Ghana in 2005 and founded ThinkLite USA in 2009 on the campuses of Babson College and Olin College of Engineering. The company specializes in designing, developing and distributing technology-based life science solutions and has grown to operate in 14 countries, with a strong presence in North America, South America, Europe and Asia.
Danny and Dinesh initially came to Needham Bank for loans and lines of credit to help fuel ThinkLite’s growth, as well as cash management services to manage their accounts payable and receivable, work with international vendors and help mitigate fraud. Out the gate, Needham Bank and ThinkLite formed a mutually beneficial relationship.
Over time, Michael Semizoglou, SVP Director Small Business, helped recommend the right strategies and solutions to the Wadhwani brothers. ThinkLite also helped make Needham Bank as energy-efficient as possible with LED technology upgrades implemented across all Needham Bank’s buildings. In addition to the significant cost and energy savings, the carbon reduction was equivalent to planting 2,680 trees and taking 21 cars off the road per year – a big win for the Bank’s sustainability goals.
When the pandemic hit, Danny and Dinesh turned to Needham Bank for help. Michael worked with them to secure a Paycheck Protection Program and Main Street Lending Program loan. Equipped with the financing muscle they needed during COVID-19, Danny and Dinesh accelerated product development and trials for ThinkLite Air – a system that continuously monitors indoor air quality down to the viral load, and accordingly heals and purifies the air of contaminants and pathogens as needed.
Now ThinkLite Air has expanded to the commercial market, and companies such as Siemens, ABM Industries and Ascension Healthcare use their solutions. With the growing success of ThinkLite Air, the Wadhwani brothers strategically reorganized, separating the company into three divisions, Air, Grow and Energy—advancements that wouldn’t have been possible without Needham Bank as a banking partner.