Venture capital firm GVFL writes Series A cheque to IoT startup EroNkan
Summary
Ltd, which provides an Internet of Things-based (IoT) platform to enterprises across industries, has raised an undisclosed amount of Series A investment from venture capital firm GVFL Ltd. The platform provides tools, technology, consulting services and insights into industrial processes, machine performance and shop-floor dynamics to help enterprises take timely decisions at both ground level and senior management to improve productivity, quality and availability across the organisation. Its solutions are offered to diverse industry sectors like food and beverages, pharmaceuticals and manufacturing. The founders said that having GVFL by their side will help them grow faster in India and also start planning its foray in the international market. The infusion of funds from GVFL will also help EroNkan conduct the research and trials required to develop its products, they said.