Hetrogenous Communication Technologies Private Limited, which is operating in the fast-growing IoT (Internet of Things) space, has raised growth funds from a clutch of investors led by The Chennai Angels (TCA). Keiretsu Forum and individual investors have joined TCA to infuse ₹5 crore into Hetrogenous.
According to Anush Gopalan, founder-chairman, Hetrogenous will use the funds to scale up operations and expand geographical reach within and outside the country.
Mr. Gopalan said the company was now transiting from R&D to product stage. He claimed the products designed and developed by the company enabled transmission of sensor data across multiple devices. These products would be manufacturedon a contract basis, he said.
Hetrogenous is a machine-to-machine integration platform company. Typically, its products are positioned to help telecom operators and service providers to leverage the power of the “Always On” mobile Internet. It partners with clients to help them tap into the “Internet of Things” by introducing “locate, sense, interact and control” applications to expand their user base, access new markets, and improve customer experience. For TCA, Hetrogenous marks its first major investment in the IoT vertical. With a workforce of about 40 now, the company, according to Mr. Gopalan, is looking to increase the headcount to about 200 in the next 12 to 18 months.