Funding News: IoT Data Analytics Startup 'Probus Smart Things' purses $5 million in Series A1

Startup: Probus Smart Things

Founder: Anand Singh

About us: 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.

Founded Year: 2017

Office: New Delhi

Sector: IoT

Funding Round: Series A1

Investors: Unicorn India Ventures

Probus Smart Things, an IoT communications and data analytics business, has raised $5 million in Series A1 funding. A combination of debt and equity funding is used in this round.

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.

"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.

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”.

Website: https://probus.io/