your password has been reset successfully, Please login again.

GEMS Partners invests Rs.2 crore in tech startup Chariot

New Delhi-based startup Chariot has raised Rs.2 crore funding from GEMS Partners.
BY BEx Bureau
BusinessEx
Apr 12, 2018

New Delhi-based IoT startup Chariot has secured Rs.2 crore funding in Pre-Series A round led by a venture capital firm GEMS Partners.

In 2017, the IoT startup was founded by Nilay Mehrotra, Siddhant Srivastava and Raj Garg. The startup offers end to end solutions by creating IoT infrastructure through its technology and use data analytics to detect the patterns in data streams from machine and sensors. The startup plans to use the raised funding to provide better services to users, to improve its products and for expansion purposes.

Mehrotra said, This investment by GEMs Partners will help us in further consolidating our reach at the global level, upgrading in-house technology platform, infrastructure and products, and also in pushing internal growth.

The startup solutions like smart metering and smart parking aim to help the government and simplify the life of consumers.

Garg said, Our products are designed to exemplify the intelligence of AI and efficiency of Machine Learning, all of which are being combined to formulate a smart ecosystem providing real-time data insights for the tasks at hand.

The company is aiming to use its technology to improve the lifestyle of consumers from the following solutions; automated parking systems, smart gas management, and water meter.

Please add your Comment
SIMILAR News
February 20, 2019
Government has launched the second report of states’ ranking 2019 as per the decided framework. ...More
By Jaspreet Kaur
February 19, 2019
Union minister, Suresh Prabhu informs that the ministry has altered the definition of startups. ...More
By Jaspreet Kaur
January 22, 2019
China expects a slowdown in the FY-2019; trade war and decreasing demand need to be blamed. ...More
By Jaspreet Kaur
January 22, 2019
USB Q4 pre-tax profit leaps down by $1.038 billion; the bank envisions a slowdown in the further cou ...More
By Jaspreet Kaur
January 16, 2019
Commerce and Industry Ministry has exempted taxes on startups, who actively looking for angel invest ...More
By Jaspreet Kaur
November 20, 2018
Through this investment, BillDesk will develop new product lines for its payments and loyalty busine ...More
By Vaishnavi Gupta
November 19, 2018
Ananth Narayanan, Chief Executive Officer of Myntra, will continue to lead the team. ...More
By Vaishnavi Gupta
November 16, 2018
This acquisition will help FarEye to reinforced its growth plans to solve challenges for long-haul a ...More
By Vaishnavi Gupta
November 14, 2018
True North has acquired a 75% stake in Shree Digvijay Cement Company Ltd from Brazil-based Votoranti ...More
By Vaishnavi Gupta
November 13, 2018
The investment is made by the firm to boost its capabilities to deliver tech solutions that will hel ...More
By Vaishnavi Gupta
November 12, 2018
With this acquisition, Mphasis will increase its end-to-end capabilities in the public cloud domain, ...More
By Vaishnavi Gupta
November 12, 2018
This acquisition will help Mumbai-listed AGC to add over $600 million in annual revenue and about 3, ...More
By Vaishnavi Gupta