Other investors in the round include Investopad’s Rohan and Arjun Malhotra, Sunil Kalra, Ericsson technology head Manoj Dawane and former UTC India head Zubin Irani. Zenatix plans to use the funding to expand the product and offer solutions outside of the NCR, which is the focus at the moment.
“Whenever there is talk of energy efficiency, it is usually retro fit like changing from CFL to LED, which requires upfront investment. But if you can change the way energy is consumed, at least 10% could be saved,” said co-founder Vishal Bansal, an IIM-Ahmedabad MBA, who worked at ING before starting Zenatix Other founders include Rahul Bhalla, who was a vice-president at legal process outsourcing firm UnitedLex, and Amarjeet Singh, an MS and PhD from UCLA, who worked in academia.
Zenatix works with a combination of hardware, which is an energy meter and sensors at location to collect data about consumption with software for analysing data. It has 35 customers including Google, NIIT, United Health Group, IIT Delhi, Glaxo Smith Kline and Tata Teleservices, which are using the product at 100 sites.
