Kimbal, an energy engineering company in India, has raised $22 million in its Series B funding, led by private equity major GEF Capital Partners, per media reports.
The round also saw participation from existing investor Niveshaay, which returned with a follow-on investment through its domestic Category II AIF, the Sambhav Fund.
Niveshaay had first invested $5 million in the company in 2024, along with other investors.
Kimbal plans to use the money to build and improve its products in areas like power quality, energy management, and battery storage. It said it also aims to grow its smart metering business, expand its manufacturing work, and begin entering international markets.
“Energy transition is fundamentally changing how energy is measured, managed, and traded. Sustainability, efficiency, and responsible innovation remain at the very core of it,” said Ayush Sinhal, founder and CEO at Kimbal.
“…We now have the runway to deepen our engineering capabilities, scale faster with our agility intact, and take Kimbal global,” he added.
Founded in 2011, Kimbal develops solutions to modernise power grids. Its advanced metering infrastructure (AMI) remains its largest business, with over 10 million smart meters installed so far.
“India’s energy transition is among the most consequential sustainability opportunities of this decade,” Sridhar Narayan, managing partner at GEF Capital Partners. “Kimbal’s technology platform, engineering capability, and proven execution make them a good fit for GEF Capital’s investment programme.”
The company has around 300 engineers and operates in Singapore, Seoul, and Australia, in addition to Delhi and Bengaluru in India.
