Browsing: deeptech

Internet of Things (IoT) communications startup Comminent currently focuses on the smart metering segment, and plans to expand into large-scale deployments such as smart street lighting and water metering, founder Amarjeet Kumar told ET. It is targeting revenue of around Rs 300 crore over the next three years.

The fund intends to invest in pre-seed and seed rounds of 18 to 20 startups that are developing critical technologies locally, a strategy it refers to as creating a sovereign edge. The investments are planned to be deployed over four years, with individual amounts ranging from Rs 7 crore to Rs 10 crore, while reserving 50% of the total capital for follow-on funding.

Industrial 47, Antler, AC Ventures, Dexter Ventures, and several angel investors participated in the round. This comes at a time of heightened interest in indigenous defence manufacturing and AI-powered security systems, as India looks to reduce import dependence and strengthen domestic capabilities.