The company’s network enables monitoring/metering services, tracking services and control services that will help cities in India to become ‘Smart’. It offers ICT consulting for Smart City Projects and is currently engaged in developing and implementing plans for a clutch of cities across India. It is also working with global academic institutions, governments, and industries to design, develop and deploy smart products and solutions.

At the start of this year, Central Government announced to develop 100 cities as ‘Smart Cities’, with a budget allotment of $15 Bn. Recently, Gaia worked with the Delhi government on water meter project providing water bill reading on mobile phones. It has also tied up with Stream Technologies and Advantech to roll-out connected networks for smart cities and transport, power and industrial automation solutions to target government contracts.

“The combination of team, market opportunity and timing made this a perfect investment opportunity. It also helped that the company was in the IoT space – where I have past experience. Our investment will help them create beachheads in key verticals like smart meters, smart energy, manufacturing etc; as well as to build out their team to establish market leadership,” Devang Mehta, Board Member,Gaia Smart Cities said.

In June this year, Gaia also acquired netCORE in an equity deal. netCORE is an IoT communications service provider. This deal led to a four-time increase in Gaia’s userbase. As part of the deal, netCORE is also investing in Gaia and will continue to support the company through its rapid growth period.