Inc42 Daily Brief
Stay Ahead With Daily News & Analysis on India’s Tech & Startup Economy
Bangalore-based home automation startup, Silvan Innovation Labs, has raised about $900K (INR 6 Cr) in equity funding from Infuse Ventures.
Founded in 2008, Avinash Gautam, Giri Krishna, Nandakumar Raghavan and Mohan G., Silvan, provides technology-enabled security and entertainment options across residential, hospitality & commercial sectors.
Shyam Menon, co-founder and Investment Director at Infuse Ventures, said, “We believe home automation and home energy management are spaces poised to take off and have partnered with Silvan on this journey. It is encouraging to see that in a short span of six months, the company has been able to draw upon its deep B2B experience in this space and build a sleek suite of desirable consumer products. Looking at the pace with which the company is executing, we believe Silvan’s consumer offerings will see strong adoption soon.”
The funding will majorly be used for marketing and creating new home automation products in select segments, such as energy management.
Silvan aims to bring innovations which solve real problems in a simple manner, by customising technologies to the realities of Indian lifestyle and ecosystem. Housing companies like Nambiar Builders, Total Environment, Tata Housing etc. utilise its services.
Silvan is setting up dealer networks in major cities to enable product installation. It has completed over 2000 fully automated homes, and is automating about 40 Real Estate projects.
Silvan consumer products can be bought within price range of INR12,500 to INR 20,000; Fully integrated project series solutions can be bought for price between INR1 Lakh to INR 5 Lakhs depending upon the complexity of system and size of the house.
Currently functioning in the B2B segment, Silvan has also announced its entry in the consumer segment with a series of four consumer products it has been working on for the past two years. These products are-
- CBELL : A Wi-Fi Video Doorbell which calls the owner’s phone when the doorbell is pressed.
- SECURE : A wireless and app-enabled security system which secures the home against unwanted intrusions as well safety hazards such as gas leakage, fires, etc.
- LUMOS : Enables easy retrofit light automation using existing conventional switches.
- zPLY : A digital music zoning system that streams and plays centrally-stored music anywhere within the home.
Prior to this in January 2016, Silvan Innovation Labs raised about $500K (INR 3.5 Cr) in a funding round from The Chennai Angels.
Note: We at Inc42 take our ethics very seriously. More information about it can be found here.