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Rajesh Nair founded Ecologix eyes to raise $5-$6 Million
Bangalore: The Bangalore-based clean tech analytics start-up Ecologix Knowledge Solutions, which helps companies in the area of energy emission monitoring, is looking at raising of $5-6 million in venture capital investments. The firm is investing nearly $1 million into product and development, reports VCCircle.com.
The Bangalore-headquartered firm, with proprietary software tools enabling companies to map and manage energy efficiency, was incorporated a year ago by a former IIM-A graduate with international research and corporate background in the area of Economics, Energy and Environment (3E) linkages.
Ecologix is a typical hybrid start-up with product development centre in India and sales office in the U.S. "We are currently in advanced dialogue to sign up a few Fortune-100 companies as our clients," Rajesh Nair, Founder and Managing Director of Ecologix, told VCCircle. "We are looking for a financial investor who can add strategic value in cap and trade markets of U.S., Europe and Australia," he said.
Currently, Ecologix is also part of the Bureau of Energy Efficiency-driven national action plan on climate change. Ecologix' sector-agnostic monitoring solutions are targeting resource-intensive sectors like oil and gas, manufacturing, utilities and infrastructure. The start-up firm is also holding channel partnership talks with some consulting and software services majors to bolster its distribution play. "We are working on an integration kit (with software platforms) that will help in automating data inputs," Nair added.
The revenue model hinges on software licensing fee based on per user per annum basis, and also on consulting revenue. "We see consulting as a significant revenue stream on par or even higher than the licensing fee going forward. The consulting services will be essentially in calibrating the software services for cost optimisation," Nair added.