WEGoT raises USD 1.5 million in realty and existing investors

Measured usage drives the awareness and has garnered the attention of multiple stakeholders in this ecosystem..with this fundraise, we will scale our tech stack that will help to further decrease the demand for water in buildings.Abhijeet Pai of Gruhas Proptech said, ..we are pleased to partner with WEGoT in their growth phase and happy to support them in their vision to conserve water using technology.


PTI | Chennai | Updated: 09-12-2021 19:58 IST | Created: 09-12-2021 19:58 IST
WEGoT raises USD 1.5 million in realty and existing investors
  • Country:
  • India

WEGoT, an Internet of Things based water management solutions provider, has raised USD 1.50 million towards its vision to strengthen its footprint in the country and enhance existing product capabilities, the company said on Thursday.

The strategic funding was led by GRUHAS Proptech (promoted by Abhijeet Pai of Puzzolana Group and Nikhil Kamath of Zerodha), Rahul Talwar-DLF Family Office, Harshad Reddy - Apollo Hospitals family.

The round also saw participation from WEGoT's existing investors like HDFC Capital Advisory Ltd and the promoters and CEO of Prestige Group.

''With the fundraise, WEGoT aims to strengthen its squad, expand its footprint Pan-India, and enhance existing product capabilities. The company is looking to grow its team by recruiting across all functions to deliver this critical urban intervention at scale'', the city-based company said in a statement.

WEGoT said it has successfully implemented over one lakh smart devices across 30,000 homes and over 40 million square foot of commercial real estate and has the visibility to scale to 10 lakh devices over the next 12 months.

''We are extremely fortunate to have raised capital from such industry leaders, who believe and support our vision for WEGoT...we are now poised for non-linear growth by delivering our solution in cities across India and substantially reducing their demand for water'', WEGoT Utility Solutions Co-founder Abilash Haridass said.

WEGoT Co-founder and CTO Vijay Krishna said, ''our IoT based water management has paved the way for managing and mitigating the growing crisis. Measured usage drives the awareness and has garnered the attention of multiple stakeholders in this ecosystem..with this fundraise, we will scale our tech stack that will help to further decrease the demand for water in buildings''.

Abhijeet Pai of Gruhas Proptech said, ''..we are pleased to partner with WEGoT in their growth phase and happy to support them in their vision to conserve water using technology''.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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