IoT Startup Chariot Raised Rs 2 Cr. Pre Series A Funding From GEMS Partners
IoT Startup, Chariot, Pre Series A Funding, GEMS Partners, Delhi Startups, Automated Parking Systems, Smart Gas Management, Smart Waste Management, SaaS, Paas
IoT startup, Chariot, has recently raised Rs. 2 crore in a Pre-Series A funding round from a venture capitalist GEMs partners.
New-Delhi based startup is providing end-to-end solutions by connecting sensing devices to provide deep analytical capabilities in detecting patterns inside data streams via its universal IoT-enabled platforms and devices.
The raised capital will be utilized for servicing existing and future clients of Chariot, as well as for further product development and market expansion.
Nilay Mehrotra, Co-founder & CEO, Chariot said, “Raising investment for the first time marks a significant milestone for our start-up, at the core of which lies a dual ecosystem of Internet of Things (IOT) and Artificial Intelligence (AI). Within only one year of inception, Chariot has started working with large corporate houses and listed giants in India and across the globe. This investment by GEMs Partners will help us in further consolidating our reach at the global level, upgrading in-house technology platform, infrastructure and products, and also in pushing internal growth.”
Mr. Aditya Gupta, GEMs Partner, said, ‘IoT will become an integral part of our day-to-day lives! It is the future – in both homes, office & industries. It will also be the foundation as we move towards “smart cities”. Chariot, a world leader in both IoT devices and a universal back-end software platform, has huge market potential and growth opportunities. In addition, the founders’ experience, commitment and existing success played a huge part in our decision making.’
Chariot is delving into areas such as Automated Parking Systems, Smart Gas Management, Smart Waste Management, and so on and looks to help the governments and consumers in making efficient choices based on an array of emerging technologies.
Chariot’s IoT platform delivers comprehensive Platform-As-A-Service (PaaS) and Software-As-A Service (SaaS) solutions for rapidly developing and operating big data, predictive analytics, and so on.
It is focused on catering the needs of Utilities, Industrial/Manufacturing, and Transportation sectors.
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