India: Energy analytics firm Zenatix raises pre-Series A funding from Blume Ventures

Zenatix team

Gurgaon-based Zenatix Solutions, an Internet of things (IoT)-based energy data analytics company, has raised an undisclosed amount from VC firm Blume Ventures Advisors Pvt Ltd, the company said.

Zenatix will use the money primarily for product enhancement, hiring people and to expand its operations in Bangalore and Mumbai.

“Energy efficiency and savings is as important and as large a frontier to tackle as renewable energy. We have faith that team Zenatix will keep pushing the innovation envelope on this front, and emerge as a key player in what the world is today discussing feverishly in Paris at the Climate Summit,” said Karthik Reddy, co-founder and managing partner at Blume Ventures.

The firm had earlier raised Rs 1.27 crore ($190.5K) in seed funding from group of angel investors led by Rahul Khanna (Trifecta Capital), Rajan Anandan (Google) and Kunal Bahl & Rohit Bansal (Snapdeal co-founders).

Founded in December 2013 by IIT alumni Rahul Bhalla, Vishal Bansal and Amarjeet Singh, Zenatix provides a cloud-based energy analytics product that helps large consumers of electricity reduce their electricity spend by at least 10 per cent, using intelligence from the energy data correlated with other factors including temperature, humidity and occupancy.

“We have a SaaS based engagement model – the customer doesn’t pay upfront for the hardware or software. It is a fixed monthly or annual fee and the energy savings delivered by our analytics solution far outweigh our fee. Typically, the customers become cash flow positive by a significant amount from second month onwards ” said Rahul Bhalla.

Currently, Zenatix focuses on commercial customers like large office spaces, retail chains, banks, hospitals, hotels and educational institutions. It has over 45 paying customers including Google, Tata Teleservices, NIIT etc.

Mumbai-based Blume Ventures was founded in 2010 by members of Mumbai Angels, Sanjay Nath and Karthik Reddy, provides seed, early and venture capital to companies in data infrastructure, specialised finance, biotechnology, research and development.

It has been actively investing since 2011 and is backing more than 20 companies per year.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.