An investment in industrial IoT startup Urja has been recently announced by Tata powers venture Social Alpha. Tata Power aims to become a fully integrated energy-as-a-service (EaaS) provider that provides energy management services through this agreement. Founded by Saurabh Jhamb and Anant Jhawar in 2017, URJA develops online power analytics tools for industrial production systems. It uses its own patented sensors that help improve industrial efficiency. Currently, it focuses on industrial production, thermal and hydroelectric power plants, industrial heating systems, air and air intake (HVAC).
“We are simply looking at the potential impact of device-level data if it is delivered on a large scale in the production and power system,” said Saurabh Jhamb, CEO, URJA. With the new investment, the company aims to enhance its marketing strategy, grow the B2B business and strengthen its back-to-back technology using advanced learning skills/learning equipment.
Tata Power’s investment followed a resurgence in investment in IoT startups by leading global companies during a coronavirus closure last year. Many companies focus on IoT to improve the efficiency of industrial setups without human intervention. With the growing influx of IoT across all industries, the dependence on IoT-enabled sensors that allow communication between devices is greatly enhanced. However, in India, the IoT-enabled sensor market is primarily dominated by global players operating in their units.
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In India, startups such as Altizon, Hero Electronix acquired by Zenatix, Infinite Uptime, Skylo, Smart Joules operate in the energy-focused industrial sector. Apart from this, the ReRe Power and Bengaluru-based solution building solution 75F have also entered the gap, but there is plenty of room for growth. IoT-enabled Sensors Market India India 2019 for research and markets, IoT-enabled sensor market is poised to expand to CAGR by about 62.96% to reach INR 81.07 Bn by 2024, from INR 4.83 Bn in 2018.