Silvan gets Rs 6-crore funding from Infuse Ventures
Clean-tech fund Infuse Ventures has invested Rs 6 crore of equity funding in home automation and energy management solutions provider Silvan Innovation Labs.
The company plans to expand into the business-to-consumer segment, after catering to business-to-business players including real estate developers such as Lodha Group and Tata Housing Developing Company. Silvan Innovation Labs will use the funds for marketing and creating new home automation products in select segments such as energy management.
The startup, which has raised a total of Rs 13.5 crore since its launch in 2008, has unveiled four new smart-home consumer products that it has been working on for the past two years. These include C Bell, a WiFi video doorbell, which calls the owner’s phone when the doorbell is pressed, and Secure, an app-enabled security system, which secures the home against unwanted intrusions including safety hazards such as gas leakages and fires.
“We also have entertainment oriented products like the zPly, which is a digital music zoning system that streams and plays centrally stored music anywhere within the house, and Lumos, an easy retrofit light automation which can automatically dim and brighten lights in different parts of the house through a few taps on a smartphone; this can also be used through conventional switches,” said Avinash Gautam, CEO of Silvan Innovation Labs.
The company plans to introduce these products in 5,000 retail stores across India over the next six months. Gautam said that the company’s USP is that its products are cost effective, with a price range of Rs 12,000-50,000, resulting in traction in tier-2 and tier-3 towns.