Inflection Point Ventures makes investment into Eden Smart Homes
Eden Smart Homes is an IoT startup that develops indigenous and cost-effective smart home automation systems. It was founded in by two IITD alumni in 2018, Pranjal Kacholia (B.Tech in Chemical Engineering, Batch of 2020) and Divyansh Mathur (B.Tech in Chemical Engineering, Batch of 2020). This year, Angel investment platform Inflection Point Ventures (IPV) has invested an undisclosed amount in Eden Smart Homes.
The funds raised will be used for launching new product lines and scaling up sales and marketing operations to acquire more customers, the startup said. The funds will also be used to grow their distribution channel from five to over thirty cities. The startup is also in talks with large brands and SMEs to license a part of its technology for bundle up sales and even listing it online on targeted platforms for better visibility to its customers.
On the investment, Vinay Bansal, Founder, and CEO, Inflection Point Ventures said, “We are known to back great founders with great business models with a sustainable growth path. With the ease with which all of us are embracing technology and the smart city projects currently underway, there is a demand for IoT enabled homes.”
Eden’s solution includes monitoring power consumption, the ability to view the real-time status of appliances, scheduling on and off times for appliances, and creating custom scenarios. Eden Smart Homes aims to become India’s leading IoT company in the next three years. The smart home market is expected to be over $8 billion dollars in 2023 of which Eden Smart Homes is hoping to have a significant piece. IPV believes that, as disposable income keeps rising Eden has been able to position itself as an aspirational product for Indian households.
