Silvan Innovation Labs, which develops security systems and smart phone-based solutions for home automation, has raised Rs 3.5 crore in funding from The Chennai Angels (TCA). In a separate deal, HoE Wellness Pvt. Ltd, a company which operates Spazure and Spa Express spas at airports, hospitals and hotels, has acquired Serena Spa.
Chennai Angels invest in automation startup Silvan
Silvan Innovation Labs Pvt Ltd, which develops security systems and smart phone-based solutions for home automation, has raised Rs 3.5 crore in funding from The Chennai Angels (TCA), according to a report in INC42 Magazine.
The funds will be used by the Bangalore-based startup to promote its products online and to enter newer geographies. The firm is also working on new products that would increase its footprint among the consumers.
Founded in 2008 by Avinash Gautam, Giri Krishna, Nandakumar Raghavan and Mohan G., Silvan, provides technology-enabled security and entertainment options across residential, hospitality and commercial sectors. The startup is currently a team of 70 people.
HoE Wellness acquires Serena Spa
Serena Spa has 18 spas in luxury resorts and boutique hotels across the Maldives, India and Seychelles. HoE Wellness has 17 spas in India and three in Spain.
Over the next two years, the company plans to invest Rs.20-30 crore on expanding the business and opening about 25 spas in India and overseas, said Vohra while sharing that the two companies together have a revenue of Rs.20 crore.
HoE Wellness will retain the Serena Spa brand for use in luxury resorts and hotels. The two founders of Serena Spa also join the board of directors at HoE Wellness.