Internet of things (IoT) based security startup; SmarterHi raises an undisclosed amount of funding from Singapore based investors for a minority stake.
The 2 year old, Pune-based security service providing startup was founded by Sirni Narayanan and Pradeep Vasudev. Their flagship model, Assertion is a B2B security verification solution which is mainly meant for the large enterprises and contact centers. The system helps the user to adopt policy-oriented approach communicable system security.
On the investors Mr. Narayanan said “We were trying to figure out the right investor for our company, and were very clear that the critical element in finding an investor was finding the right entity.”
Unlike traditionally today’s digital startups want to chose an investor that not only provides funds, but also mentors the startup. Startup looks at investors as a partner to excel and not as a money withdrawing system.
The product enables the process of checking the communications process automatically, which implies with the rules and regulation which are enforced by the management. The company claims that, assertion is used by a global bank in Singapore and works fluently without any errors.
Recently lots of IoT based startups have managed to raise funds from the market. In March 2016, IoT based startup; Einsite has risen seed funding from KPCB edge. In July 2016 an IoT based startup from Ahmadabad Locanix, raised $294K (Rs 2 Cr) from private investors and government schemes. NASSCOM 10,000 startup also formed an affiliation with ivy camp to boost the startups in India. Read about Funded Startups.