Delhi based technology startup, Kimbal Technologies has raised $5 million in its growth capital round led by Niveshaay. The startup has raised his capital to enhance its smart grid solutions. This newly secured fund will be used to expand its operations and develop new products.

The funding round also witnessed the participation of Ayush Mittal of Mittal Analytics and Sandeep Kapadia.

The startup Kimbsal delivers an integrated Advanced Metering Infrastructure (AMI) solution, including smart meters, RF-Mesh communication technologies, and open-architecture Head-End system. The company has already deployed more than one million smart meters, and recently they have planned to utilize the raised funds to scale up its existing operations and develop new products. The company wants to manufacture a comprehensive power distribution ecosystem and contribute in India’s ambition to become an economic superpower.

It has already provided, advanced metering infrastructure (AMI) solutions for power distribution, including smart meters, RF Mesh communication technologies, and an open architecture Head-End System.

The CEO of Kimbal Technologies, Ayush Sinhal stated, “It's an exciting time for us at Kimbal. While India is on a mission to emerge as the next economic superpower, access to a smart, reliable, and energy-efficient energy distribution grid is a non-negotiable prerequisite. We are growing at a solid pace, and I am strategically focused on ensuring that our growth is not only steep but also steady and sturdy.”

Kimbal Technologies is targeting to install 250 million prepaid smart meters by 2025. It has remarkable competitors in the market such as Husk Power Systems and Gram Power. The company stands out in the market with its comprehensive solutions, which cover over 75% of the components in the value chain.