India: Zenatix raises funding from pi Ventures

Photo: Reuters

Gurgaon-based energy-data start-up, Zenatix Solutions Pvt. Ltd has raised Rs8 crore in pre-series A round of funding led by pi Ventures, the company said on Wednesday.

Existing investor Blume Ventures also participated in the round.

Previously, the company had raised angel funding of $200,000 in 2015 from investors including Rahul Khanna (managing partner, Trifecta Capital), Rajan Anandan (vice-president and managing director of Google, South-East Asia and India Google) and Snapdeal co-founders, Kunal Bahl and Rohit Bansal.

The company will use the funds to expand its team and its product to South-east Asian markets.

Founded in 2014 by Rahul Bhalla, Vishal Bansal and Amarjeet Singh, Zenatix is a data-driven energy efficiency company.

“We are both a hardware and a software company,” said Bhalla in a telephonic interview. He explained that the company has built a device, WattMan, that records energy consumption and patterns of retail outlets; use this data in machine learning models and help its clients save 10-30% on its electricity spend and make them energy efficient.

The company works with banks and large retail chains that have at least 1,000 branches and 500 retail stores respectively. “A company that has an average of 1,000 stores, each 2,500 sq ft large, would spend Rs80-100 crore annually on electricity. We are able to help them save 10-30% on this electricity spend”, said Bhalla.

Launched in April 2016, the company has deployed WattMan in over 500 retail outlets including bank branches and ATMs, across its clientele of 20 companies.

Currently a team of 32, the company will double its team in next 12-18 months, as it plans to deploy 2500 WattMan in next one year, increasing its clientele to over 50-60 companies across India, Singapore, Malaysia, Indonesia and Thailand.

Based on subscription-based model of revenues, Zenatix aims to earn annualized recurring revenue of $2 million by mid 2018, of which 15-20% from overseas market, added Bhalla.

Also Read: Star India invests $10m in data analytics startup Sagacito

India: Big data startup Qubole secures $30 million from IVP, existing investors

This article was first published on Livemint.com

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.