Liquidity Events
Digital lock startup Open acquires IoT company SectorQube for Rs.17.8 Cr
Bangalore-based digital lock startup Open (Open Appliances) has acquired SectorQube, a Kochi-based company with IoT expertise, in an all-stock deal that values the target company at INR 17.8 crore, to roll out a range of digital locks specifically designed for middle-class families in the country. As part of the deal, the co-founders of 11-year-old SectorQube, funded by Unicorn India Ventures, Maker Village (IIITMK) and Ritesh Malik, will become a core part of the growth strategy of Openapp.
From the Venture Intelligence PE-VC Deal Database: In Feb-2018, SectorQube had attracted a INR 1.8 Cr commitment from Unicorn India Ventures. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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