iBus networks & infrastructure Pvt Ltd, a provider of connectivity solutions inside buildings, has raised $2.2 Mn (INR 150 Mn) in Series A round from Vallabh Bhanshali of Enam, N Squared Management LLC, USA. and family office of Jagdish & Sandeep Mehta.
With this, the company has also appointed Sanjay Kapoor, former Micromax chairman, as the Non-Executive Chairman of the company along with onboarding Mohandas Pai as an advisory board member. Pai and Kapoor are also the early investors of the company. Sanjay will be responsible for steering and providing strategic direction to the company while Pai will mentor and advise the team.
Cipher-Plexus was the investment banker to the transaction as well as one of the Investors in the deal.
iBus plans to use the raised funds to drive deployment of iBus solutions across the country and multiple segments to deliver connectivity inside buildings.
Ram Sellaratnam, CEO of iBus said, “Today connectivity is a basic utility. When people look at premises, they check water, electricity and connectivity. If connectivity is poor, the location will suffer. Inside buildings connectivity is a multi-dimensional problem. Our patent pending technology platform comprehensively solves voice, data, proximity marketing and machine to machine connectivity problems. That makes us a unique and innovative solution provider.’’
Founded in 2012, iBus is promoted and led by Ram Sellaratnam, Subash Vasudevan and Sunil Menon, who bring many years of operating experience from companies like Infosys, Airtel and Essar. iBus provides solutions for data, proximity marketing as well as building IOT- Internet of Things solutions using proprietary technologies. The company has all major telecom providers as its partners and many malls, hotels, commercial premises, hospitals etc. are its clients.