Energy engg co. Kimbal raises $22-M led by GEF Capital Partners

Delhi-based energy engineering company Kimbal has raised USD 22 million in a Series B funding round led by sustainability-focused private equity firm GEF Capital Partners. The round also saw a follow-on investment from existing investor Niveshaay.Founded in 2011, Kimbal assists electricity distribution companies in managing power through smart meters, a wireless communication network, and central software. This system tracks electricity usage, reduces power loss, improves billing accuracy, and balances supply and demand.The newly-raised capital will fund product development across power quality, energy management, and battery storage. A portion of the capital will also be used to advance its Advanced Metering Infrastructure (AMI) vertical and manufacturing operations, as well as seed international expansion.