My Funding Picks from Last Week (W01)
The first week of 2020 was understandably slow for deal announcements with Yourstory reporting a 73% drop in funding from last week. It was slim pickings for me to choose my funding picks, and I decided to choose just one.
Aeron Systems raised ₹2 crores from Bharat Forge
What does Aeron Systems do?
Copied from Traxcn: Aeron Systems focuses on the development of technology, applying its expertise in embedded electronics to domains encompassing aerospace, automotive, renewable energy, and agriculture. The company offers products in two technology segments, Inertial Sensors, and M2M devices. The IoT solutions include wireless data loggers, wireless data gateway, vehicle health monitoring systems, and a wireless weather monitoring system.
Why do I like Aeron?
Artha manages 5 renewable energy projects, and for a long time, I had an analyst to log weather data sourced from weather.com with each daily generation report. We would find trends that gave us a good idea of the next day’s generation. However, the weather.com data wasn’t accurate as it did not capture the weather at the project location but from their closest available weather station.
Therefore and in all honesty, it was their Weather Monitoring Station for Solar Power Plants that lured me into learning more about the company. I asked the Artha Energy Resources team to reach out to them and get a demo for our current and future projects and see if it is cost-effective.
Looking at their product portfolio, getting investment from Bharat Forge is a masterstroke!
I liked FarmERP investment as I am interested in Farming as a Service. However, there was nothing shared on the amount of financing, and since the company is over 14 years old it outside the contours of how I would define an “early-stage” start-up.