IoT startup Smartron which is backed by Cricket legend Sachin Ramesh Tendulkar has now planning to spend around Rs 300 Crore towards acquisition and strategic investment of new companies in the area of healthcare, smart homes, energy and infrastructure to broaden its IoT product portfolio in India.
Samrtron is an OEM (original equipment manufacturer) and IoT player has launched smartphones and tablets. Their recent smartphone is inspired and dedicated to Sachin Tendulkar named SRT Phone, who also has to be one of their investors.
Established in 2004, Smartron has so far invested close to Rs 125 crore. Earlier this year, it raised Rs 250 crore and plans to raise another Rs 700 crore this year, for which discussions are underway with institutions.
Earlier this year, the Chennai-based startup has acquired automotive player Volta Motors, that develops electric vehicles. It recently charted out an ambitious plan to invest Rs 1,500 crore over the next three years towards setting up R&D, engineering, manufacturing, and data center facilities.
Talking about the initiative, Mahesh Lingareddy, Founder, and Chairman of Smartron said: ” 20% of our very dollar we have is towards building the ecosystem. 20% of 1500 crore will go towards acquiring and partnering with companies to build the ecosystem. I would like to spend even more outside.”
“TronX platform for us is a real organic asset that brings organic growth. Everything else, I would rather add from outside to build a very fluid ecosystem. That is the only way we can innovate. You can’t do everything on your own. Also, 20% of our every dollar we have is towards building the ecosystem. 20% of 1500 crore will go towards acquiring and partnering with companies to build the ecosystem. I would like to spend even more outside,” he added.
Smartron who has already inked partnerships with companies for devices like a security camera and industrial automation is also partnering with a variety of companies like Ericsson and IBM for backend support. Read more about Indian Startup Ecosystem.
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