Zenatix Solutions, an internet-of-things (IoT) driven energy-data analytics startup has raised an undisclosed amount of follow-on funding led by seed focused fund Blume Ventures.
This comes about five months after the Gurgaon-based startup raised Rs 1.27 crore from angel investors including Google country chief Rajan Anandan, along with Snapdeal Cofounders Kunal Bahl and Rohit Bansal, and Trifecta Capital’s Rahul Khanna
The two-year old startup will use the cash to hire talent, upgrade technology and product, and expand operations from Delhi-National Capital Region to Bengaluru and Mumbai
The company plans to expand its team to 30 members in the next six months from 20 employees at present. It also expects to get about 100 clients during this period.
“Energy efficiency and savings are as important and as large a frontier to tackle as renewable energy,” said Karthik Reddy, cofounder and managing partner at Blume Ventures.
The company, which has more than 45 paying customers including Google, Tata Teleservices, Xerox, Mother Dairy and Starbucks, plans to hit an annualised recurring revenue of $1 million over the next nine to 12 months.
Source: The Economic Times