Home automation start-up Silvan seals first equity deal with Rs 3.5 crore from … – Economic Times
“Silvan has a strong team, an excellent product portfolio and is trusted by several leading developers in India. We are pleased to be associated with them,” said lead investor R Ramaraj, who co-founded Sify, one of India earliest Internet companies which also got listed on the NASDAQ. Ramaraj is also a Senior Advisor at Sequoia Capital and on the board of governors of Indian Institute of Management-Calcutta.
This is the first equity investment into Silvan, which has been in the business of home automation for five years. Till now, the company has been focusing on channelizing its services through home developers and commercial space builders. Now, it wants to reach out directly to homeowners.
Silvan allows you to monitor your doorstep on an internet-enabled phone through its Video Door Bell. Its other solutions include ability to control lights, air-conditioners and move curtains through a smartphone or a tablet, similar to the conveniences seen in many hotel rooms now.
“We will be on the e-commerce sites in the next six to seven months,” says Avinash K Gautam, CEO of Silvan Innovation Labs.
The company is in the process of setting up a dealer network in key cities to enable installation of its products. The electronic retail service is expected to be a digital overlay for its dealer network now being set up. Gautam expects sales and enquiries to rev up with the e-commerce entry.
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