Kimbal Technologies, a business based in Delhi, has raised $5 million in growth capital to improve its smart grid offerings. The financial advice firm Niveshaay is leading the capital round, which will be used to develop new products and grow the company’s operations.
Prominent investors have also taken part, such as Sandeep Kapadia and Ayush Mittal of Mittal Analytics.
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Kimbal Technologies intends to concentrate on product development while expanding its current activities with the additional funding. The business wants to help India achieve its goal of becoming a global economic powerhouse by creating a comprehensive power distribution network.
The goal set by Kimbal Technologies is to deploy 250 million prepaid smart metres by the year 2025. With 5.2 million radio-mesh powered network interface cards and over 1 million smart metres deployed so far, the business is embarking on a major project to deploy an additional 7.7 million smart metres. These actions are a component of a bigger plan to guarantee effective electricity distribution throughout India.
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Kimbal Technologies faces competition from well-known firms like Gramme Power and Husk Power Systems. Its all-inclusive solutions, which address more than 75% of the value chain’s elements, set it apart.
Market Research Future projects that the sector will expand at a compound annual growth rate (CAGR) of 14.70%, from $36 billion in 2023 to $108 billion by 2032.
About Kimbal Technologies
Kimbal Technologies is an ISO 9001:2015 certified fastest emerging Indian startup building breakthrough technologies for utilities. Kimbal Technologies is essentially an innovation lab championed by driven technocrats, with raw entrepreneurship as our central pillar.
