IoT Startup of Former Reliance Jio CIO ‘Gaia Smart Cities’ Raises Pre-Series A Funding

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Mumbai headquartered Gaia Smart Cities, an Internet of Things (IoT) startup constructing options for Smart Cities, has raised an undisclosed quantity in pre sequence A funding from a clutch of international buyers.

Investors who contributed to this spherical embrace Ranodeb Roy (CEO, RV Capital Management, Singapore; ex-Board Member of MakeMyTrip and present Board member of Bandhan Bank; an Early LP into Aavishkar Fund; Multiple startup investments) and Raja Shekhar Reddy (Founder at BizSR – a startup incubator-accelerator, Founder & former COO, Innovsource; Investor-mentor in a number of startups) – each alumnus of IIT-Kanpur and IIM-Ahmedabad – and a clutch of buyers led by Debasish Das (Analytics and Data Science Head of Wipro’s Knowledge Services).

The startup will use the freshly raised funds to speed up enterprise improvement and market development in India in addition to in European markets and likewise for increasing the group for additional innovation and product improvement of Gaia’s proprietary Edge ML {hardware} and Cloud Based analytics platforms.

Gaia was based in 2015 by a former CIO at Reliance Jio and Ex-VP at IBM, Sumit D. Chowdhury, together with Bipin Pradeep Kumar who’s an Ex-Chairman of Smart City Work Group beneath Ministry of Communication & IT, India.

Gaia, which is making a public Network as a Service (NaaS) in India for low-cost/long-range IoT purposes, has been supported by distinguished angel buyers in its earlier spherical of funding by which a number of seasoned IoT and tech consultants have had contributed to its fund.

Investors of Gaia’s previous spherical of funding embrace Mehul Shah (Product Marketing Leader, Sprint IoT Group; Ex Honeywell IoT Group), Deepak Das (Chief Director of Engineering, Federated Wireless), Kavita Ravi (Director Emerging Markets, Massachusetts Department of Clean Energy) and Devang Mehta (now Partner at Anthill Ventures).

Gaia’s distribution setup are in India, it nevertheless has signed channel partnership agreements in Spain, UK, Netherlands and Australia in 2018, and is actively connecting with shoppers in abroad markets.

The startup claims to have captured over 50+ Million distinctive, discrete feedbacks from customers and over 150 Million streaming feedbacks from sensors. They have been deployed in over 130 cities throughout India for over 60 shoppers.

A supplier of Wide-area IoT and AI/ML enabled Smart Feedback options, Gaia had earlier acquired the IoT division of netCORE Solutions, in June 2016 when netCORE had additionally invested in Gaia.

Currently, shoppers of Gaia are all primarily based out of India and are throughout business segments together with Transport, Retail, Facilities, Real Estate, Cold Chains, and lots of Smart Cities throughout India. Current prospects embrace Amul, Paras Dairy, ACC, TheMobileStore and Central Electronics Limited, a Government of India-owned engineering firm.

Notably, the startup can also be working with the Ministry of Urban Development (MoUD) as an integral half of the National Project Management Unit (PMU) of the Swachh Bharat Mission (SBM) and Smart water metering answer for Delhi.

It may additionally be recalled that earlier this month, an one other IoT-based startup, DeTect Technologies, had raised $3.Three million in Series A spherical of funding led by SAIF Partners and contributed by CIIE-IIM Ahmedabad’s Bharat Innovation Fund, Axilor Ventures, BlueHill Capital Pvt Ltd and some angels from the Keiretsu Forum.

In September, CRON Systems, a Delhi-based defence IoT startup, had signed an MoU for a strategic collaboration with Silicon Valley-based Quanergy Systems Inc., a worldwide chief within the design and improvement of mild detection and ranging (LiDAR) sensors and good sensing options.

In May this 12 months, Hero Electronix, an rising tech unit of Hero Group, acquired Zenatix, a Gurgaon-based enterprise IoT startup, and with this acquisition Hero made its foray into the Internet-of-things (IoT) house. The acquisition had allowed VC corporations like Blume Ventures and Pi Ventures to make a good exit from the startup.

Source – Economic Times

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