Smartron India Pvt Ltd, which operates tech brand Smartron, said it had received a capital commitment of up to $200 million (around Rs 14 crore) from Global Emerging Markets (GEM) Group.
The company said that under the fresh pact, GEM will provide a share subscription facility of up to $200 million.
“This up to $200 million investment announcement between Smartron and GEM will help support the company’s future growth and potential public listing plans.
Over the next three-five years, Smartron will be focused on driving growth by targeting primarily smart home, smart infra, EV, and energy verticals powered by tronX platform, manufactured by tworks, and cared by tlife," said Mahesh Lingareddy, Founder and Chairman, Smartron Group.
"The tronX platform is also being offered as a B2B service to companies that are targeting various AIoT applications. Smartron is uniquely positioned to benefit from huge opportunities across the Indo-US corridor thanks to the ongoing global supply chain challenges and (re)alignments,” he added.
Smartron had launched products powered by tronX platform across smart infra, EV, and energy markets, among others. It claims to offer solutions, services, and support via tronX, its own artificial intelligence of things (AIOT) platform and a wide range of hardware devices.
In 2016, former Indian cricketer Sachin Tendulkar invested in Smartron.
GEM is a $3.4 billion alternative investment group focused on emerging markets across the world.
The group in a statement said that its family of funds and investment vehicles provide GEM and its partners with exposure to small-mid cap management buyouts, private investments in public equities (PIPEs) and select venture investments.
