VC Fund Investments
Power-sector focused data analytics co. Probus raises $5-M led by Unicorn India Ventures
New Delhi-based IoT communications and data analytics startup Probus has raised USD 5 million (around INR 41 crore) in a Series A1 led by Unicorn India Ventures. The round also saw participation from US-based and Indian family offices. The funding round is a mix of equity and debt financing.The fresh proceeds will be used to scale the firm's communications technology for smart grids and integrate AI capabilities, and expand dual communications network interface modules for smart metering.Founded in 2016 by Anand Singh and Ankit Vaish, Probus develops hardware and software solutions that help power utilities digitise their distribution grids. It enables utilities to monitor their networks and automate power distribution.
Between Jul 2020 and Mar 2023, Probus had raised about USD 3.64 M from Unicorn India Ventures, Theia Ventures, and other angel investors.For FY24, Probus had reported about INR 8.59 Cr in Operating Income and about INR 5.50 Cr in Net Loss.
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