“The company will utilise the funds for product development, as it progresses from the stage of a minimum viable product to product feature enhancement, and for product marketing, “ said CEO Saurabh Sharma. The company has entered the consumer market with the launch of its IoT platform called BeConnected and smart home devices that will be operating on it.
“As the IoT technology becomes more acceptable, we believe it is important to design solutions meant for the Indian consumer market — solutions that are easy to use, come at an affordable price and provide value to consumers,” he said.
The company, which counts Honda and Soft-Bank among its enterprise customers and is now entering the consumer IoT business, is working on an array of electronic devices that merge with current systems, so that customers do not have to upgrade in order to adopt these products.
Source: The Economic Times