IOT-based energy data company Zenatix raises pre-series A from Blume Ventures

Zenatix Solutions, an IoT-driven energy data analytics company, has raised a pre-series A round from early-stage investor Blume Ventures.
The funding—the company has not disclosed the amount—will be used for expanding into markets beyond Delhi-NCR and for building up the team. The funding will also be used to improve technology and the product. “The product is about helping customers save on their energy spends. With this round, we are aiming to make it more robust, cleaner, and user friendly,” says Dr. Amarjeet Singh, CTO, Zenatix Technologies.  Zenatix, founded in 2013, is a cloud-based energy analytics product that collects data from several electrical products and breaks them into actionable insights. It helps in reducing electricity spends by 10 per cent, the company claims. This is done using intelligence that is derived from the correlated energy data with other factors, including temperature, humidity, and occupancy.
Its clients include NIIT, Xerox, Google, Tata Teleservices, Mother Dairy, Glaxo SmithKline, and Starbucks. Rahul Bhalla, Co-founder and CEO, adds that being a SaaS-based engagement model, they follow a fixed monthly or annual fee and the energy savings delivered by the analytics solution far outweigh the fee. At an annual run rate, the current revenue is at $140,000.