Latest news with #Comminent
Economic Times
4 days ago
- Business
- Economic Times
Deeptech startup Comminent raises $2 million from Transition VC
Internet of Things (IoT) communications startup Comminent has raised $2 million in funding from Transition VC to scale up its technology for smart city infrastructure projects in India. ADVERTISEMENT The company currently focuses on the smart metering segment, and plans to expand into large-scale deployments such as smart street lighting and water metering, founder Amarjeet Kumar told ET. It is targeting revenue of around Rs 300 crore over the next three years. Founded by Kumar and Vikas Kashyap, who have worked in the communications industry, Comminent develops standards-based, device-agnostic last‑mile communication systems to address reliability and interoperability issues in large infrastructure rollouts. Its product range includes RF mesh modules, edge gateways, and a network management stack. According to the company, its systems can integrate with various device types and utility platforms, enabling utilities, OEMs, and developers to deploy solutions more technology is designed with the aim of supporting India's smart electricity meter programme, under which the government aims to install 250 million units over the next four to five years. The rollout is currently happening in Gujarat, and within this fiscal year, the company aims to install about 4-5 lakh smart meters in homes, Kumar said. Smart meters are part of ongoing efforts to modernise electricity distribution and improve billing efficiency for company will use these funds to expand its operations and technology development and to support upcoming deployment projects. It also wants to hire personnel for different roles, including sales and technical positions, as well as another layer of management as the rollout gathers pace, Kumar said. ADVERTISEMENT The company claims its communications platform works with multiple hardware manufacturers and utility systems, avoiding the vendor lock‑in that can slow down smart city projects. Beyond electricity metering, Comminent is also in discussions with clients in the water and lighting sectors to try its technology in other urban infrastructure applications. Transition VC, the sole investor in this round, focuses on clean and sustainable technology ventures. "In a country like India, where the government aims to deploy hundreds of millions of smart meters by 2027, the need for a resilient, future-proof RF mesh technology delivering unmatched reliability while significantly lowering operating expenses costs has never been greater,' Raiyaan Shingati, cofounder and managing partner of Transition VC, said in a statement. ADVERTISEMENT
Time of India
4 days ago
- Business
- Time of India
Deeptech startup Comminent raises $2 million from Transition VC
Academy Empower your mind, elevate your skills Internet of Things (IoT) communications startup Comminent has raised $2 million in funding from Transition VC to scale up its technology for smart city infrastructure projects in company currently focuses on the smart metering segment, and plans to expand into large-scale deployments such as smart street lighting and water metering, founder Amarjeet Kumar told ET. It is targeting revenue of around Rs 300 crore over the next three by Kumar and Vikas Kashyap, who have worked in the communications industry, Comminent develops standards-based, device-agnostic last‑mile communication systems to address reliability and interoperability issues in large infrastructure rollouts. Its product range includes RF mesh modules, edge gateways, and a network management to the company, its systems can integrate with various device types and utility platforms, enabling utilities, OEMs, and developers to deploy solutions more technology is designed with the aim of supporting India's smart electricity meter programme, under which the government aims to install 250 million units over the next four to five years. The rollout is currently happening in Gujarat, and within this fiscal year, the company aims to install about 4-5 lakh smart meters in homes, Kumar said. Smart meters are part of ongoing efforts to modernise electricity distribution and improve billing efficiency for company will use these funds to expand its operations and technology development and to support upcoming deployment projects. It also wants to hire personnel for different roles, including sales and technical positions, as well as another layer of management as the rollout gathers pace, Kumar company claims its communications platform works with multiple hardware manufacturers and utility systems, avoiding the vendor lock‑in that can slow down smart city projects. Beyond electricity metering, Comminent is also in discussions with clients in the water and lighting sectors to try its technology in other urban infrastructure VC, the sole investor in this round, focuses on clean and sustainable technology ventures. "In a country like India, where the government aims to deploy hundreds of millions of smart meters by 2027, the need for a resilient, future-proof RF mesh technology delivering unmatched reliability while significantly lowering operating expenses costs has never been greater,' Raiyaan Shingati, cofounder and managing partner of Transition VC, said in a statement.
