Silvan raises Rs6 crore for home automation products range
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Bengaluru: Home automation solutions provider Silvan Innovation Labs Pvt. Ltd on Wednesday said it raised Rs.6 crore in funding from clean technology-focused venture firm Infuse Ventures to boost its consumer products range.
The Bengaluru-based firm, which used to provide solutions for property developers, also ventured into the business-to-consumer sector on Wednesday and launched four products, including a WiFi-enabled video doorbell, security system, light automation system and a music zoning system, all priced between Rs.10,000 and Rs.20,000.
The firm had earlier in January raised Rs.3.5 crore in funding from Chennai Angels. It works with developers such as Lodha, Prestige, Brigade, Tata Housing and said its products are used to completely automate 2,000 homes, and are being used in about 40 projects across the country.
“Earlier there was no awareness about home automation, but now people are asking for it. There is a need for customised solutions that are simple and intuitive enough not to alienate different members of a household,” said Avinash Gautam, chief executive officer, Silvan.
The products are available for purchase on Silvan’s website and select retail stores. They hope to increase the number of stores that stock their products to 5,000 in the next six-eight months. Since home automation products require some setting up,
Silvan has trained people who will install the devices to enable a smooth after-purchase process.
The firm will now work in two teams– one will continue to focus on the enterprise business and the other will develop its consumer range further. They will also look at how their solutions could be deployed for energy management in the future, said Gautam.
“People are really comfortable with technology now, and because of that comfort, convenience adoption of home automation has come to the fore. We believe Silvan will succeed because they are using the learnings from servicing the early adopters and builders, in designing their products to suit what people really want,” said Shyam Menon, investment director, Infuse Ventures.