IoT startup, Chariot, has reportedly raised Rs 2 crore in a Pre-Series A funding round raised from Gems Partners, an international Venture Capitalist. The funds received will be employed toward servicing current and future clients, product development and market expansion.

“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” said Nilay Mehrotra, Co-founder and CEO, Chariot.

Chariot was founded in February 2017 by Nilay Mehrotra and Raj Garg. The startup’s IoT platform provides comprehensive Platform-as-a-Service (PaaS) and Software-as-a-Service (SaaS) solutions for the development and operation of Big Data and predictive analytics. Additionally, the startup is executing a project in Maharashtra on smart water metering and is also delivering solutions for other areas including automated parking systems, smart gas management, smart waste management etc.

“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” stated Raj Garg, Co-founder and CTO, Chariot.

The startup is a digital undertaking connecting sensing devices in order to provide deep analytical capabilities for detecting patterns inside data streams. With a month-on-month growth of 45 per cent, the startup aims, in the long run, to assist the governments and consumers in making efficient choices based on a range of emerging technologies.

(Picture courtesy: chariotco.in)