Delhi-based Kimbal Technologies raises $5M in a funding round led by Niveshaay

Delhi-based startup Kimbal Technologies has raised $5 million in growth capital to enhance its smart grid solutions. The funding round, led by investment advisory firm Niveshaay, is aimed at expanding its operations and developing new products. 

Notable investors, including Ayush Mittal of Mittal Analytics and Sandeep Kapadia, have also participated.

Expanding the power distribution ecosystem

With the fresh capital, Kimbal Technologies plans to scale up its existing operations and focus on product development. The startup aims to build a comprehensive power distribution ecosystem that supports India's ambition to become an economic superpower.

It provides advanced metering infrastructure (AMI) solutions for power distribution, including smart meters, RF Mesh communication technologies, and an open architecture Head-End System (HES).

Ambitious goals for smart meter deployment

Kimbal Technologies targets to install 250 million prepaid smart meters by 2025. To date, the company has deployed over 1 million smart meters and is working on a significant project to deploy 7.7 million more, alongside 5.2 million radio-mesh-powered network interface cards. These efforts are part of a larger initiative to ensure efficient energy distribution across India.

A competitive edge in the market

Kimbal Technologies competes with notable companies like Husk Power Systems and Gram Power. It stands out with its comprehensive solutions, which cover over 75% of the components in the value chain. 

According to Market Research Future, the industry is projected to grow from $36 billion in 2023 to $108 billion by 2032, with a compound annual growth rate (CAGR) of 14.70%.