Probus Smart Things Closes USD 5 Mn Funding Led by Unicorn India Ventures With the fresh funds, Probus aims to scale its smart grid communication tech, integrate AI into networking solutions, and expand dual communication modules for smart metering across multiple Indian states.
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DeepTech startup Probus Smart Things has secured USD 5 million in Series A1 funding, led by Unicorn India Ventures, with participation from US-based and Indian family offices.
This round, a mix of equity and debt financing, brings Probus' total funding to over USD 8 million.
The fresh capital will help scale its communication technology stack for smart grid and renewable applications while advancing AI integration into its patented networking solutions. The company is also investing in expanding its dual communications network interface modules for smart metering, which are being deployed across multiple states in India.
Founded by Anand Singh, Probus provides integrated hardware and software solutions that enable utility providers to digitise their distribution grid. Its IoT platform enhances grid analytics and automation, leading to more efficient electricity distribution and faster recovery from outages. By reducing operational costs for utilities, Probus ultimately lowers power costs for consumers.
Since its last funding round in 2023, the company claims to have grown its revenue 10X, built a INR 400 crore order pipeline, tripled its workforce, and opened an Innovation Center in Noida, along with offices in Mumbai and Ahmedabad.
Anand Singh, Co-founder and CEO, Probus Smart Things, said, "At Probus, our mission is to enable the last-mile digitisation of India's electricity distribution grid, a transformation that is significantly reducing distribution losses at scale and propelling the country toward its Net Zero targets. Our cutting-edge Communications Technologies and Data Analytics lie at the heart of this transformation. Leveraging our strength in diverse communication stacks and deep expertise in network hardware, Probus has evolved into a trusted DeepTech partner for leading customers like Adani Power, Tata Power, and Torrent Power. With this funding, we will focus on scaling our communication technology stack across multiple smart grid applications while expanding our core technology teams."
"Last year, we introduced a game-changing innovation in the smart metering segment with our Dual Communications Network Interface Card. This breakthrough has the potential to revolutionize the smart metering industry by significantly lowering the total cost of ownership for utilities and driving greater customer adoption. Together, we are shaping a future aligned with a more sustainable economy and accelerating progress toward achieving Net Zero targets," he added.
Probus plans to vertically integrate its dual communication technology and leverage AI-driven data analytics to enhance its smart grid solutions. With the Indian government's push for smart metering and substation automation through initiatives like RDSS-2, the company expects to achieve 10X revenue growth within the next year.
Looking ahead, Probus aims to expand its presence to nine states by 2025, reinforcing its commitment to driving a technology-led transformation in the energy sector.
