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Probus raises $5 Mn led by Unicorn India Ventures

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Probus raises $5 Mn led by Unicorn India Ventures IoT Communications and data analytics startup Probus Smart Things has raised $5 million in Series A1 led by Unicorn India Ventures. The round also saw participation from US-based and Indian family offices. The current round is a mix of equity and debt financing. Probus has raised over $8 million in funding to date including a $3 million Series A round in March 2023. The proceeds will be used for ramping up its current communications tech stack into multiple smart grid and renewable applications along with the development of existing expertise into AI integration with its patented communications and networking stacks. It will also be investing in scaling its innovative dual communications network interface modules for smart metering currently being deployed across various states in India. Founded by Anand Singh, Probus develops integrated hardware and software solutions for utility providers and helps digitize their distribution grid and have a clear visibility of their network through Probus integrated end-to-end IoT platform. Probus claims to have built an order pipeline of Rs 400 crore growing 10X in revenues while growing 3X year-on-year. The company has filed for 4 patents, tripled the team size, and opened an Innovation Center in Noida along with project offices in Mumbai and Ahmedabad.