The two-year old startup will use the cash to hire talent, upgrade technology and product, and expand operations from Delhi-National Capital Region to Bengaluru and Mumbai. Speaking about the funding Rahul Bhalla, CEO, Zenatix said “We have a SaaS (software-as-a-service)-based engagement model, where the customer pays a fixed monthly or annual fee,”
This comes after the Gurgaon-based startup raised around Rs 1.27 crore ($200k) in seed funding from Snapdeal co-founders Rohit Bansal and Kunal Bahl, Google Southeast Asia head Rajan Anandan and a clutch of other investors.
Zenatix was founded by Dr. Singh co-founded Zenatix, Mr. Rahul Bhalla and Mr. Vishal Bansal in 2013. The solutions provided by the startup enables the energy consumers monitor their energy consumption pattern at various system/appliances levels, and take actions based on the recommendations driven by their energy analytics.
The startup can help large consumers of electricity reduce their energy spend. The hardware product from Zenatix consists of smart meters, temperature and humidity sensors and its proprietary controller ZSmart.The ZSmart device collects high- resolution energy-related data from smart meters that are installed at major electrical loads in a setup.
The company plans to expand its team to 30 members in the next six months from 20 employees at present. It also expects to get about 100 clients during this period.