Inspira Enterprise India Pvt. Ltd has invested an undisclosed amount in iRam Technologies Pvt. Ltd, which provides the most advanced solutions based on internet of things.
Bengaluru, 21 Feb, 2019. RedNewswire/-
iRam Technologies has comprehensive end to end home automation solution with all networked elements seamlessly working on LAN and over Internet.
Inspira Enterprise has announced its partnership with iRAM Technologies, specialised in smart street lighting and parking solutions based on the Internet of Things to develop convergent solutions for India’s smart cities.
Inspira has picked up significant stake in iRam Technologies, the stake sale will give iRAM access to Inspira Enterprise’s sales force and established relations with government verticals in the smart city space.
The raised funds will be used for new product development, feature enhancement in existing products, research and development (R&D) and hiring of new talent. Also, as a result of the funding deal, Inspira director Vishal Jain will join the board of iRam.
Udaya Bhaskar Rao Abburu, CEO & MD, iRAM Technologies said, “This investment is significant for iRAM Technologies, as besides infusing fresh funds in the company, it will give us access to Inspira’s well entrenched sales team and their existing relations with government agencies. This is a strategic move that will give a fillip to the growth strategies of iRAM and help us emerge as a key player in the smart city solutions space.”
Inspira is an information technology solutions provider, with Centres of Excellence focusing on cyber security, blockchain, cloud, robotic process automation, smart city, networking and healthcare solutions.
Manoj Kanodia, CEO, Inspira Enterprise said, “Inspira is on a mission to help its clients with their digital transformation. Since every expertise cannot be home grown, we collaborate with best talents and complement each other’s strengths to offer the best to our clients. We are very excited to formalise our relationship with iRAM. We strongly believe our collaboration with iRAM will open new doors of innovation and opportunity. Inspira will leverage products, solutions and capabilities of iRAM to deliver cost-effective and efficient citizen services to urban and rural communities.”
In a release Inspira said, the smart street lighting market in India is expected to grow at an annual rate of 42.2% to reach $1.8 billion by 2022 as adoption of LED and solar-powered systems rise in the country. Smart parking solutions help the vehicle user to find the nearest parking space.
It provides information on the availability of parking slots in the parking area. The smart parking systems reduces carbon dioxide (CO2) emissions by bringing a plummet in search for vacant parking slots by car owners and traffic congestions.
iRam has deployed its solutions in various smart-city projects and municipal corporations across India,such as Smart Parking Solution, Smart Pole, Smart Environmental Sensors solution etc.