IoT-based Startup Zenatix Solutions receives a $1 Mn Pre-Series A funding

Zenatix receives Pre-Series A funding

Zenatix Solutions is a Gurugram-based IoT startup, founded in 2013 by three people, Rahul Bhalla, Vishal Bansal, and Amarjeet Singh. The startup essentially uses advanced machine learning based models to furnish an energy management product. Large commercial consumers of electricity can realize a 30% energy efficiency by leveraging the product. The most recent news from the startup stresses on Zenatix receiving a $1 Mn Pre-Series A funding.

The funding round for Zenatix was led by pi Ventures, and existing investor, Blume Ventures also participated in this round. Manish Singhal, Founding Partner, pi Ventures comments “Zenatix approach includes building connected hardware, with sophisticated machine learning algorithm to work on resulting dark data generated. This approach will set them apart. The space is vast with plenty of innovation & upside possibility, given the kind of data.”

Zenatix had launched its new product WattMan previous year in September. The product was designed to assist retail and BFSI businesses in saving up to 20% of their energy bills. Rahul Bhalla, co-founder and CEO, Zenatix Solutions, remarked “The customer doesn’t have to pay anything upfront as we incorporated a subscription based engagement model. It is a fixed annual fee whereby the energy efficiency benefit itself outweighs the fee.” The current focus of the startup is within Indian market. Zenatix plans to expand internationally over the next 6-12 months, and the firm will utilize the recently acquired capital for hiring across all its functions – technology, product, operations, and sales.

Google country chief Rajan Anandan; Snapdeal’s co-founders Kunal Bahl & Rohit Bansal; and Trifecta Capital’s Rahul Khanna among others, had previously organized a funding round for Zenatix in July 2015. Led by Blume Ventures, the startup had also raised an undisclosed amount of follow-on funding, back in December 2015. Arpit Agarwal, Principal, Blume Ventures, mentions “Zenatix has proven its immense ability to adapt their business to focus sharply on an opportunity area, by building deeper solutions in two large sectors of Indian economy – BFSI and Retail.”

Comments

comments

Amit Paul Chowdhury
Amit Paul Chowdhury

With a background in Engineering, Amit has assumed the mantle of content analyst at Analytics India Magazine. An audiophile most of the times, with a soul consumed by wanderlust, he strives ahead in the disruptive technology space. In other life, he would invest his time into comics, football, and movies.