Bengaluru: Briston Technomach, a Delhi-based IoT startup announces that it has raised $150,000 in seed funding from an undisclosed angel investor. The company plans to shell-out the fresh capital to expand its business operations to eight new cities including Bengaluru, Chennai, Kolkata and Mumbai in the next three months.
“Energy is a very important aspect in an emerging country where the demand is always greater than the supply. The investment has brought us opportunities to expand into energy usage reduction tools for the consumer market that can make a great impact on the society and reduce overall energy demand,” says Arpeet Gupta, CEO, Briston Technomach.
Speaking in his shadow, Avnish Kumar, CTO, Briston Technomach says, “We are planning to set up a data analytics lab, hire new talent and strengthen the technological backend and are in touch with several leading telecom and aviation companies and figuring out how they can leverage this new technology to bring down their operational costs. Besides India, we are also targeting other emerging markets in Asia”.
Briston Technomach is the contrivance of two IIT-Delhi graduates – Arpeet Gupta and Avnish Kumar who founded the company in 2014. It develops wide range of products & software that enable the businesses to keep an eye on their energy expenses. The company’s flagship product – ‘FuelArk’ monitors the energy resources in the power backup sector with great accuracy and uses derived analytics to analyze the operational efficiency and cut down wastages. Briston also was selected for the ‘Best Startup’ award by IIT-Delhi alumni association in December last year.