iBus networks and infrastructure has raised Rs 15-crore series A funding from Vallabh Bhanshali of Enam, N Squared Management and the family office of financial investors Jagdish and Sandeep Mehta.
The company that makes connectivity software inside commercial buildings has appointed Sanjay Kapoor, former Micromax Chairman, as the non-executive chairman.
T V Mohandas Pai will be the advisory board member. Both Kapoor and Pai are early investors in iBus.
The funding will be used to market and sell these solutions across 400 million square feet in four years. Cipher-Plexus was the investment banker to the transaction as well an investor.