Home automation startup Keus Automation Pvt Ltd said Monday the company has secured Rs 100 crore in its first external funding round, led by OAKS Consumer Fund, a mid-market private equity fund.
OAKS Asset Management, overseeing the fund, contributed Rs 80 crore, while founders Brijesh Chandwani and Subram Kapoor invested the rest. This represents the largest capital infusion into India's smart home automation sector, according to a statement by the owner of Keus Smart Home brand.
Keus Automation plans to use the funds to develop new products and to position the brand in the premium homes segment. The company also plans to launch experience centers in cities such as Delhi NCR, Bangalore, Pune, and Mumbai, expand into Tier I & II cities, and strengthen its position as a market leader in Hyderabad.
"We are clearly witnessing a rising tide in the smart home landscape in India,” said Brijesh Chandwani, managing director and founder of Keus Automation. “The partnership with OAKS will expand our business horizons and put India on the global map in the smart home space.”
Founded in Hyderabad in 2017, Keus Automation makes wireless automation systems in the premium and luxury segments. Its smart home systems can control curtains, lights, and other appliances.
Keus Automation counts Vikram Nirula, founding partner of True North PE, and Amit Mehta, director and head of family office at LNB Group, among its early backers.
Keus Automation has so far deployed its smart home system in over 1,500 houses.
Chandwani and Kapoor are the former founders of Beam Telecom, a fibre-based high-speed broadband. They had raised capital from India Value Fund in 2009 and grown Beam into India’s 4th largest ISP before exiting the business in 2014.
OAKS India Consumer Fund has deployed around INR 1,000 crore across eight investments so far, including Wow Momo, Incred, Credable, Troo Good, and FoodLink.
