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Smart home automation company, Keus Smart Home on Monday said it has raised its first external funding securing ₹100 Crores from PE player OAKS Asset Management. The OAKS Consumer Fund, a mid-market PE fund, led the round with ₹80 crores.
The company’s founders, Brijesh Chandwani and Subram Kapoor, participated in the round for the balance.
The company will utilize the funds by launching new experience centres in major cities, including Delhi NCR, Bangalore, Pune, and Mumbai, expanding in Tier I and II cities, and consolidating its position as a market leader in Hyderabad. The funds raised will also be utilized to develop new product offerings in home automation and lighting, and strategically position the brand in the premium homes segment.
Brijesh Chandwani, Managing Director and Founder of Keus Smart Home said, “We are clearly witnessing a rising tide in the Smart Home landscape in India. We are excited about this partnership with OAKS and committed to pioneering innovation, expanding our business horizons and putting India on the global map in the smart home space..’
Vishal Ootam, Founder and CEO of OAKS Asset Management says, “We are pleased to lead the funding round for Keus Smart Home and support their vision of transforming the home automation landscape in India. We love Keus’ commitment to design thinking and their DNA of constant innovation and are confident that this will position them as the bellwether in this space. We look forward to being a part of their continued success.”
Founded in Hyderabad in 2017, by Brijesh Chandwani and Subram Kapoor, Keus is a design-centric smart home company that has built out a wireless automation system, specifically tailored to the needs of premium and luxury Indian homeowners.
Brijesh and Subram are former founders of Beam Telecom which was a pioneer in fiber-based high-speed broadband.
Keus Co-founders Ashwik Reddy Battu, Dhruv Bansal, Vishnu Teja Nimmagadda, and Manish Kumar have been instrumental in shaping the company’s product and growth strategy. The strong and deep talent pool has helped establish Keus as a leading player and key innovator in the home automation industry.
Keus Smart Home counts Vikram Nirula (Founding Partner, True North PE, and Former MD, The Carlyle Group PE) and Amit Mehta (Director and Head of Family Office at LNB Group) among its early backers.
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