Probus Smart Things Secures $5 Million in Series A1 Funding

Probus Smart Things, an IoT Communications and data analytics startup, has successfully secured $5 million in a Series A1 funding round led by Unicorn India Ventures. This funding round also attracted interest from family offices based in the US and India. The financing structure for this round comprises both equity and debt.

To date, Probus has raised over $8 million, which includes a Series A funding of $3 million that took place in March 2023.

The newly acquired funds will be directed towards enhancing its existing communications technology stack to support various smart grid and renewable applications. Additionally, these funds will contribute to further integrating AI into its proprietary communications and networking solutions.

Probus is also planning to invest in the expansion of its cutting-edge dual communications network interface modules designed for smart metering systems, which are currently being rolled out across multiple states in India.

About Probus Smart Things

Founded by Anand Singh, Probus focuses on creating integrated hardware and software solutions aimed at utility providers. The company assists in the digitisation of their distribution grids, offering clear visibility of their networks through its comprehensive end-to-end IoT platform.

Growth and Innovation at Probus

Probus reports a burgeoning order pipeline worth Rs 400 crore, with revenues increasing tenfold while achieving a threefold growth year-on-year. The company has filed for four patents, enlarged its workforce threefold, and established an Innovation Center in Noida, as well as project offices in Mumbai and Ahmedabad.