Chariot, a startup providing end-to-end solutions via its universal IoT-enabled platforms and devices, received Rs. 2 crore investment from GEMs partners, a venture capitalist, in a Pre-Series A funding round. The funds received by the company will be utilized for servicing existing and future clients of Chariot, as well as for further product development and market expansion. In short, investment will be utilised for consolidating company’s reach at the global level, upgrading in-house technology platform, infrastructure and products, and also in pushing internal growth.
A digital enterprise connecting sensing devices to provide deep analytical capabilities in detecting patterns inside data streams, Chariot has to its credit executing a one-of-its-kind project in Maharashtra on Smart Water Metering; it is also getting lot of enquiries from both domestic and global markets and is delving into areas such as Automated Parking Systems, Smart Gas Management, Smart Waste Management, and so on.