Industrial IoT startup IoTrek raises $154K in seed investment
Summary
Ltd, which provides industrial Internet of Things (IoT) solutions for telecommunications, energy and solar grid management, has secured $154,000 (Rs 1 crore) in seed funding from a consumer goods maker, a top company executive said. The startup will use the funds, raised in November last year, to develop its product, build the team, and scale up operations, Piyush Kumar Vishwakarma, co-founder and chief executive of IoTrek, told VCCircle. We then gradually started providing electricity monitoring and solar grid management solutions, with minor modifications on our core technology platform,” said Vishwakarma. It offers IoT-based smart solutions to improve the efficiency of telecom hardware infrastructure and analyse the performance of solar power grids. “Since we are a business-to-business player and have a longer product development and sales cycle, it doesnt make sense for us to raise a Series A round now.