Gurgaon-based technology solutions provider Beyond Evolution has raised an undisclosed amount of seed funding from former Micromax CEO Vineet Taneja and Kamal Puri, Chairman of UAE’s Skyline Group, Samsung and Bharti Airtel.
The company will use the funding for product development as it progresses from the stage of a minimum viable product (MVP) to product feature enhancement and marketing.
Saurabh Sharma, CEO and co-founder, Beyond Evolution said, “As IoT technology becomes more acceptable, we believe it’s important to design solutions meant for the Indian consumer market – solutions that are easy to use, come at an affordable price and provide value to consumers.”
Co-founded in 2005 by Abhishek Sharma and Saurabh Sharma, Beyond Evolution is a mobile app development & IT solutions company. It has recently ventured into the IoT space with the launch of a new platform called BeConnected and a range of Smart Home Devices that will operate on it.
According to an official statement, a beta version of the application has been successfully tested with a test-group and the product will be available for customers through the BeConnected by early September 2016. The team is working on a range of electronic devices that merge with current systems, so that users do not have to upgrade in order to adopt these products. The ability to provide remote connectivity with their appliances is provided by a Be-Connected Mobile App with a Smart Plug called ‘Betty’ that will operate on it.
The company develops MVAS applications for individuals, corporates and institutional users covering utility and infotainment products. It works through GSM/CDMA mobile operators, and outsourcing partners besides direct offerings. It also offers system integration solutions, cloud backups, Intelligent alert systems and customised mobile applications for organisations.
Speaking about the investment, investor Vineet Taneja said, “Internet of Things (IoT) is a wide field and what attracted me to Beyond Evolution is that it addresses a real need of markets like India. Their platform allows for modular upgrades of existing household appliances and delivers real value to the consumer.”
Some of their mobile applications are My Moments, an app to share pictures and memories, mSecure, a mobile safety application, personal health manager Calorie Meter, and an SMS-driven app Facts Machine.
The company is the application development partner for Softbank Telecom India. Other clients include Air India, Vodafone, BSNL and Reliance. Beyond Evolution is also the industry partner for setting up the ‘Future Internet and Electronic Media’ project formed by the association of EU-India, IIT-Delhi and Waterford Research Institute, Ireland.
The Internet of Things (IoT) sector has long promised to develop devices for consumer convenience. It is a new arena where startups are looking to create a strong standing as it integrates networking technology to communicate with everyday use appliances. It uses the advantages of hyper-connectivity to control and use products without physical human intervention.
This year, in March IoT startup Einsite raised seed funding from KPCB Edge. In July, Ahmedabad-based logistic IoT startup, Locanix raised $294K(INR 2 Cr) from private investors and a government scheme. Locanix builds innovative solutions using GPS location information. NASSCOM 10000 Startups also formed an alliance with IvyCamp to bolster IOT startups in India.