Smart metering firm Kimbal, e-mobility parts manufacturer Attron Automotive and fintech startup Authpay secured early-stage funding, the companies said on Monday.
Kimbal Technologies
Smart metering company Kimbal Technologies has raised $5 million (Rs 41.4 crore) in its maiden funding round. The round was led by Niveshaay and angel investors like Ayush Mittal of Mittal Analytics Pvt. Ltd. and Sandeep Kapadia.
The New Delhi-based startup will utilize funds to scale up existing operations and for new product development, according to its statement.
Established in 2011, Kimbal Technologies is a power distribution solution supplier that offers an integrated advanced metering infrastructure solution, including smart meters, RF-Mesh communication technologies, and open-architecture head-end system.
The company claims to have deployed 1 million smart meters so far and has also supplied to Middle Eastern utilities.
Attron Automotive has raised $573,960 (Rs 4.75 crore) in a seed funding round co-led by Anicut Capital and Venture Catalysts. The round also saw participation from Pontaq VC and angel investor Yashovardhan Shah.
Attron Automotive's product portfolio includes precision-engineered motors and advanced controllers that optimize performance across electric mobility, industrial automation, and aerospace applications.
“The funding will be used to bring our motor and controller solutions to market readiness. Additionally, we've utilized the investment to establish a production facility capable of small batch production, catering to our initial demand with a capacity of up to 100 units per month,” stated Mosam Ugemuge, chief executive officer, Attron Automotive.
Authpay has raised $450,000 (Rs 3.72 crore) in a funding round from the startup-focused networking platform Scope VC.
Authpay is a fintech startup that enables businesses to streamline transaction processing, enhance security and deliver easy payment experiences to their customers.
Scope had raised $45 million (around Rs 375 crore) for its maiden venture capital fund that will primarily invest in fintech and gaming startups in December 2023. Scope was founded by Saikiran in 2021. The networking platform connects entrepreneurs with like-minded individuals, curated content and other valuable opportunities.
