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Funding

Kimbal Technologies raises $5M for smart meters

Kimbal Technologies has raised $5 million in a growth round led by Niveshaay.

Kimbsal offers an integrated Advanced Metering Infrastructure (AMI) solution, including smart meters, RF-Mesh communication technologies, and open-architecture Head-End system.

The company claims it has already deployed over one million smart meters, and now plans to utilise the raised funds to scale up its existing operations and develop new products.

“It’s an exciting time for us at Kimbal. While India is on a mission to emerge as the next economic superpower, access to a smart, reliable, and energy-efficient energy distribution grid is a non-negotiable prerequisite. We are growing at a solid pace, and I am strategically focused on ensuring that our growth is not only steep but also steady and sturdy,” said Ayush Sinhal, CEO of Kimbal Technologies.

Attron Automotive raises Rs 4.75 Cr in seed round led by Anicut Capital, Venture Catalysts

Precision-engineered motor and controller maker Attron Automotive has raised Rs 4.75 crore in a seed funding round led by Anicut Capital and co-led by Venture Catalysts. Pontaq VC and angel investor Yashovardhan Shah also participated.

“Attron’s pioneering motor and controller solutions epitomise precision engineering, efficiency, and reliability, establishing new standards in the automotive technology sector. We are excited to partner with Attron on their journey to redefine electric mobility and shape the future of transportation,” said Apoorva Ranjan Sharma, Director and MD of Venture Catalysts.

SCOPE VC invests $450,000 in fintech startup Authpay

SCOPE VC, the investment banking arm of the exclusive networking platform SCOPE, has made a strategic investment of $450,000 in fintech startup Authpay.

This investment is part of SCOPE VC’s recently launched $45 million venture capital fund focused on fintech and gaming sectors.

In addition to providing capital, SCOPE VC will grant Authpay access to its extensive network of industry experts, mentorship, and operational support.

Wenhao Yang, Co-founder, AuthPay said, “We were introduced to Saikiran through a mutual connection, and from our very first meeting, we were impressed by his profound insights into the payment industry. What truly stood out was his alignment with our vision for AuthPay to become the future gold standard in mobile payment solutions. Even before committing to invest in our pre-seed round, Saikiran and SCOPE have been integral to our journey, offering invaluable support by facilitating key introductions and providing feedback on our pitches and storytelling.”

Other news

IndusInd Bank launches smart wearables that work like a credit or debit card

IndusInd Bank has launched ‘Indus PayWear,’ a range of contactless payment wearables, in collaboration with Mastercard.

These wearables, which include a ring, watch clasp, and stickers, enable users to tokenise their IndusInd Bank debit or credit cards onto the chip-enabled devices, facilitating tap-and-pay transactions at any contactless Point-of-Sale (PoS) terminal globally.

The wearables, priced between Rs 499 and Rs 2,999, allow for seamless DIY setup and card switching via a dedicated mobile application.

Transactions below Rs 5,000 can be completed with a tap, while those above require entering the linked card’s PIN for added security, as per RBI guidelines.

(This copy will be updated with the latest news throughout the day.)