As a part of the recently inked deal, Gaia Smart Cities, an India based start-up in the field of City Scale IoT technology solutions has acquired the Internet of Things division of netCORE Solutions, a leader in marketing technology & enterprise communications.
Founded by Dr. Sumit D. Chowdhury and Bipin Pradeep Kumar in the year 2015, Gaia Smart Cities pioneer in innovative solutions for smart cities and offers a cloud based product portfolio including Smart Metering, Smart Asset Tracking and Smart Industrial Automation. It is one of the few companies in India that is actively pursuing research and development in the area of developing smart cities.
With various initiatives by the government such as Make in India and Digital India being on a rise, it has encouraged Indian companies to build intellectual property and pioneer advanced designs in electronic, software and telecommunications. And this acquisition aims at creating a leading technology and innovation enterprise, offering ground-breaking products rapidly.
The acquisition would help Gaia build up its reputation as one of the fastest growing end-to-end IoT companies offering solutions for both industrial automation and smart cities. It would also fetch the company various pro-consumer and pro-competitive benefits to its existing client base including names like Amul, Paras, Parag Dairies, ACC Cement, cold chains, warehouses, retail stores across the country. It would gain Gaia’s customers in Smart Metering, Smart Cities and analytics space too.
Dr. Sumit D. Chowdhury, the Founder & CEO of Gaia Smart Cities, commented “We were drawn towards the strong technical team, a robust technical platform and extremely focused approach of the netCORE IOT team. We found great synergies with our own Smart Cities platforms and solutions like Smart Metering and Smart Tracking”. Dr. Chowdhury has previously served as President of Reliance Jio and is an alumnus of IIT Kanpur and Carnegie Mellon.
Along with the cloud based platform INSIGHT developed by netCORE Solutions and the right combination of Predictive Analytics & Machine Learning solutions offered by Gaia, the companies intend to bring in a significant business insight and business benefit to the customers.
“We continue to believe in the potential of IoT and Smart Cities and have found that the leadership and ideas of Gaia are better and can be aligned to grow this business and support the customers that we already have. We will continue to stay invested with Gaia as the country moves ahead with its various Smart Cities and demand for the solutions developed across the world”, said Mr. Rajesh Jain, Founder and Managing Director of netCORE Solutions.
The deal was finalised by Nine Rivers Capital Advisors with Mr. Nimesh Shah, Managing Director & Co-Founder stating that “as part of our Technology and Digital practice, we are very upbeat about rapid adoption of IOT solutions within the country. We see a big synergy in Gaia Smart Cities scaling up what Netcore started as a pioneering effort two years back.”