Tech company Smartron on Tuesday said it has signed an agreement with Global Emerging Markets Group (GEM), wherein the alternative investment organisation will provide a share subscription facility of up to USD 200 million (about Rs 1,495.8 crore).
Smartron Group has come to an agreement with Global Emerging Markets Group to secure a capital amount of $200mn for their future growth.
Tech company Smartron on Tuesday said it has signed an agreement with Global Emerging Markets Group (GEM), wherein the alternative investment organisation will provide a share subscription facility of up to USD 200 million (about Rs 1,495.8 crore).
Smartron has developed and introduced a range of smart and intelligent products powered by its own native AIoT platform - tronX - offering intelligent, personalised and seamless experiences for home, mobility and health segments.
“This up to USD 200 million investment announcement between Smartron and GEM will help support the company's future growth and potential public listing plans. Over the next 3-5 years, Smartron will be focused on driving growth by targeting primarily Smart Home, Smart Infra, EV, and Energy verticals powered by tronX platform, manufactured by tworks, and cared by tlife," Smartron Group founder and Chairman Mahesh Lingareddy said.
He added that the tronX platform is also being offered as a B2B service to companies that are targeting various AIoT applications.
AIoT or Artificial Intelligence of Things refers to a combination of artificial intelligence technologies and Internet of Things (IoT) infrastructure to achieve more efficient IoT operations and enhance data management and analytics.
"Smartron is uniquely positioned to benefit from huge opportunities across the Indo-US corridor thanks to the ongoing global supply chain challenges and (re)alignments,” he said.
Smartron has developed a large hardware portfolio - ranging from smartphones, laptops and wearables to smart home hub and e-bikes, battery packs and IoT modules.