Avendus Capital advises smart metering company, Kimbal Technologies, in a funding round led by Niveshaay

Overview

One of India’s fastest emerging energy-tech organizations, Kimbal Technologies, has announced that it has secured growth capital in a new funding round. The funding round was led by a host of marquee investors, including leading Investment Advisory firm, Niveshaay, among others. Having already deployed over 1 million smart meters to date, the funds would be utilized for scaling up existing operations and new product development, helping build a strong power ecosystem with effective distribution to the last mile.

Avendus Capital was the exclusive financial advisor to Kimbal Technologies on this transaction.

Deal Value

Undisclosed

Service

Private Equity

Sector

Industrials, Infrastructure & Real Assets

Date

Mar 2024

It's an exciting time for us at Kimbal. While India is on a mission to emerge as the next economic superpower, access to a smart, reliable and energy efficient distribution grid is a non-negotiable pre-requisite. We are growing at a solid pace, and I am strategically focused on ensuring that our growth is not only steep but also steady and sturdy. We are glad to have onboarded multiple investors in this growth journey.

Ayush Sinhal

CEO of Kimbal Technologies

Smart metering will go a long way in managing legacy challenges associated with Indian electricity sector. Its multiple other use cases will also help digitalize the sector. Kimbal's high-quality products will help create a sustainable infrastructure and we are glad to have partnered with them on this transaction. Capital availability from domestic market for energy-transition segments is on the rise and we expect it to increase multi-fold in the coming years.