IIT-invested Startup SustLabs endeavors for $100 million ARR in five years!

By Team Startupcity  |  Tuesday, 19 March 2024, 18:54 IST

IIT-invested Startup SustLabs endeavors for $100 million ARR in five years!
Sust Lab, an AI & ML generated startup which is offering IoT and app-based solutions for home energy consumption monitoring are targeting to secure 100 million ARR in the next five years from global market in Europe and Asia Pacific. The startup was incubated in Society for Innovation & Entrepreneurship -SINE IIT Bombay. 
The company offers a viable solution of making smart energy meters to avoid the potential electrical hazards. The startup was established by Kaushik Bose, Soumya Bhattacharya in 2016, in order to create an electricity activity tracker that will provide insights into the power consumption of appliances. 
Kousik Bose, the Co-founder and chief executive officer of SustLabs stated, “Our aim is to empower residential electricity users, give them control and keep them safe via their most trusted brands. We want to ensure that our AI stack becomes integral to next-generation smart-metres. Think of them as a health tracker for all your electrical appliances. Think of them as FitBit for homes.” 
Further adding up that the startup is aiming an omni channel approach & also via licensee partners, Bose states, “Our product is built for one out of every four homes globally. The current target market is the residential users in Europe who already have EVs or Solar in their homes. That is a $1.2 bn target market (50 million households)”.

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