Probus Smart Things, a smart grid-focused IoT communications and data analytics business based in Delhi, has secured $500,000 in a bridge round headed by Unicorn India Ventures. Angel investors included Trimaster’s Anuj Khanna, Theia Ventures’ Kiran Alla, Devdutt Shah, Urmin Group’s Kuntesh Chandaria, and Anmol Rastogi.
The funding will be used to expand the startup’s team and operations both in India and internationally.
Anand Singh, Co-founder and CEO, Probus Smart Things, said, “This past year, we have been working closely and continuously with our partner utilities to help save them money in distribution networks by leveraging our communications and analytics solutions. Even during the challenging times of the second COVID wave during peak summers, our field teams had worked as essential services to keep the network up and running.”
Anil Joshi, Managing Partner, Unicorn India Ventures, said, “We invested in Probus last year and have seen first-hand the impact it is making on the ground. Leveraging IoT to improve electricity distribution and bringing down grid failure rate by giving discoms insights right at the distribution level is cutting edge work. The bridge round being led by Unicorn India is a testimony to our belief in Probus and the change it is pioneering in the utility segment.”