IoT Data Analytics Startup 'Probus Smart Things' purses $5 million in Series A1
Probus Smart Things, an IoT communications and data analytics business, has raised $5 million in Series A1 funding headed by Unicorn India Ventures. Indian and US family offices also participated in the round. A combination of debt and equity funding is used in this round.
With a $3 million Series A round in March 2023, Probus has collected more than $8 million in funding to far.
The money raised will be utilized to expand its present communications technology stack into more smart grid and renewable applications, as well as to build on its current knowledge of integrating AI with its patented networking and communications stacks.
Additionally, it would invest in expanding its cutting-edge dual communications network interface modules for smart metering, which are presently being implemented in several Indian states.
Established by Anand Singh, Probus helps utility companies digitize their distribution grid and gain a comprehensive view of their network by providing them with integrated hardware and software solutions and an end-to-end IoT platform.
"At Probus, our mission is to enable the last-mile digitization of India's electricity distribution grid, a transformation that is significantly reducing distribution losses at scale and propelling the country toward its Net Zero targets. Our cutting-edge Communications Technologies and Data Analytics lie at the heart of this transformation," says Anand Singh, Co-Founder and CEO of Probus Smart Things.
Sigh adds, "With this funding, we will focus on scaling our communication technology stack across multiple smart grid applications while expanding our core technology teams”.
Anil Joshi, Managing Partner, Unicorn India Ventures states, “This is our fourth round of investment in Probus as we believe that the company has emerged as a disruptor in the last mile power distribution ecosystem. With the order book standing at Rs 400 crore, it is clear that their understanding of the problem, their ability to provide a tech-backed solution that can be rolled out at scale and AI integration is now a proven approach”.
Joshi adds, "While the current product offerings are ahead of available solutions in the market, the team has not only kept innovating to make themselves relevant to the changing requirement but has been continuously investing in R&D to keep coming out with cost-effective innovative solutions. We see Probus as one of the category winning startups from our portfolio”.
With a $3 million Series A round in March 2023, Probus has collected more than $8 million in funding to far.
The money raised will be utilized to expand its present communications technology stack into more smart grid and renewable applications, as well as to build on its current knowledge of integrating AI with its patented networking and communications stacks.
Additionally, it would invest in expanding its cutting-edge dual communications network interface modules for smart metering, which are presently being implemented in several Indian states.
Established by Anand Singh, Probus helps utility companies digitize their distribution grid and gain a comprehensive view of their network by providing them with integrated hardware and software solutions and an end-to-end IoT platform.
"At Probus, our mission is to enable the last-mile digitization of India's electricity distribution grid, a transformation that is significantly reducing distribution losses at scale and propelling the country toward its Net Zero targets. Our cutting-edge Communications Technologies and Data Analytics lie at the heart of this transformation," says Anand Singh, Co-Founder and CEO of Probus Smart Things.
Sigh adds, "With this funding, we will focus on scaling our communication technology stack across multiple smart grid applications while expanding our core technology teams”.
Anil Joshi, Managing Partner, Unicorn India Ventures states, “This is our fourth round of investment in Probus as we believe that the company has emerged as a disruptor in the last mile power distribution ecosystem. With the order book standing at Rs 400 crore, it is clear that their understanding of the problem, their ability to provide a tech-backed solution that can be rolled out at scale and AI integration is now a proven approach”.
Joshi adds, "While the current product offerings are ahead of available solutions in the market, the team has not only kept innovating to make themselves relevant to the changing requirement but has been continuously investing in R&D to keep coming out with cost-effective innovative solutions. We see Probus as one of the category winning startups from our portfolio”.
.jpg "Terrablu Climate Technologies : Transforming Carbon Neutrality with Affordable, Scalable Solutions")
