Probus raises $5 million to expand smart grid solutions

DeepTech startup Probus, focused on smart grid applications, has raised $5 million in Series A1 funding led by Unicorn India Ventures. The funding round included participation from US-based and Indian family offices and comprises a mix of equity and debt financing. With this round, Probus has raised over $8 million to date.

The company plans to use the funds to scale its communications technology stack across smart grid and renewable applications. Additionally, Probus aims to integrate artificial intelligence into its patented communications and networking technologies. The investment will also support the expansion of its dual communications network interface modules for smart metering, which are currently being deployed in multiple Indian states.

Probus develops hardware and software solutions for utility providers, focusing on digitizing distribution grids. Its IoT platform enables electricity distribution utilities to achieve grid analytics and automation, improving distribution efficiency and response times to power disturbances. The company’s technology is designed to reduce operational costs for utilities and lower electricity costs for consumers.

Commenting on the investment, Anil Joshi, Managing Partner, Unicorn India Ventures, says, “This is our fourth round of investment in Probus as we believe that the company has emerged as a disruptor in the last mile power distribution ecosystem. With the order book standing at Rs 400 crore, it is clear that their understanding of the problem, their ability to provide a tech-backed solution that can be rolled out at scale and AI integration is now a proven approach. While the current product offerings are ahead of available solutions in the market, the team has not only kept innovating to make themselves relevant to the changing requirement but has been continuously investing in R&D to keep coming out with cost effective innovative solutions. We see Probus as one of the category winning startups from our portfolio.”

Since its last funding round in 2023, Probus reports 10X revenue growth and has expanded its operations. The company has filed for four patents, tripled its workforce, and opened an Innovation Center in Noida, along with project offices in Mumbai and Ahmedabad. By 2025, Probus plans to expand its presence from five to nine states while scaling its operations.

Anand Singh, Co-founder and CEO of Probus Smart Things, stated that the company is working toward last-mile digitization of India’s electricity distribution grid. Probus provides communication technologies and data analytics solutions to utilities, working with companies such as Adani Power, Tata Power, and Torrent Power. The company plans to expand its communication technology stack across smart grid applications and grow its core technology teams.

Probus has introduced a dual communications network interface card for smart metering, which combines cellular and Bluetooth technologies. The company expects this technology to reduce smart meter ownership costs for utilities and increase adoption. Probus intends to integrate this dual communication technology further and explore AI applications in the energy sector.

The company has updated its product portfolio for substation automation and developed a patented dual communication technology for smart meters. This technology combines multiple communication methods to enhance connectivity. With the expansion of AMI (Automatic Metering Infrastructure) and the implementation of RDSS-2 (Revamp Distribution Sector Scheme: Substation Automation), Probus plans to expand its operations.

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