Unicorn India Ventures invests undisclosed amount into Probus Smart Things
New Delhi: Probus Smart Things – a New Delhi-based IoT startup focussed on power sector, has received an undisclosed seed funding from Unicorn India Ventures.
Probus plans to deploy the fresh round of funding to strengthen its software platform, scale up its operations and enter new markets. Probus Smart Things Co-founder and CEO Anand Singh said, “We are on a mission to increase the per capita consumption of electricity in India by reducing the last mile power distribution losses. Digitisation of distribution grid through IoT-enabled technology is the only way forward to drive change.”
For Unicorn India Ventures, this is the fourth investment from its Fund II where it had raised Rs 400 crore. The previous three investments include SaScan, ChitMonks, and Finin.
On the investment into Probus, Unicorn India Ventures Managing Partner Anil Joshi said, “Probus’ IoT platform is a powerful way of helping discoms in achieving last mile visibility. An integrated approach, like Probus has designed, has the potential to change the entire distribution system in India.”
