Funding helps Nimble Wireless expand services
February 18, 2015
Nimble Wireless, a Chennai-based company specialising in IoT and M2M technologies, has received £0.5m funding from Indian seed-stage venture capitalist AngelPrime. Nimble plans to use this funding to develop new technologies, expand research and development capabilities and for marketing to enable faster growth.
Nimble Wireless connects critical industrial assets to the cloud and gathers intelligence to monitor, control and manage them through wireless sensors. Its vertical focused product portfolio in wireless hardware along with its cloud-based Iris application helps it cater to multiple verticals such as transportation and logistics, cold chain management, green energy and healthcare industries.
“This investment and partnership with AngelPrime will further boost Nimble’s growth,” saidSiva Sivakumar, co-founder and CEO of Nimble Wireless. “Unlike typical financial investors, AngelPrime’s team has rich entrepreneurial experience and the managing partners themselves are accomplished entrepreneurs who understand the challenges of a product company and are experts in scale hacking. We hope to leverage this expertise in accelerating the scaling up process and build leadership in our existing markets, both in the USA and in India.”
Nimble provides M2M and connected wireless products and cloud based software services encompassing cellular, GPS, Bluetooth and Zigbee technologies. The partnership with AngelPrime comes at a stage where the company is working on launching its next generation products with more advanced features and technologies such as advanced environmental sensors, BLE, industry leading battery life, location accuracy and user friendly mobile and web applications.
AngelPrime is one of the few early-stage funds in India with a vision of hands-on and active-involvement investment philosophy. It is focused on start-ups with disruptive ideas that are looking to redefine certain market segments in India and globally.
“We see a huge potential for companies in the IoT segment in India and Nimble Wireless has been growing exponentially over the last two years with a strong leadership team,” said Shripati Acharya, managing partner at AngelPrime. “We are extremely happy to extend our partnership and support the company’s focused growth strategy by serving as an active sounding board. Chennai has been witnessing a good number of entrepreneurs in the technology start-up ecosystem and we will be happy to invest in more start-ups in the near future.”