Probus Raises $5 Million for Smart Grid, Renewable Energy Tech

New Delhi, Feb 19 (PTI) Deeptech startup Probus Smart Things has raised USD 5 million in a funding round led by Unicorn India Ventures.

The New-Delhi headquartered firms plans to use the funds towards scaling its current communications tech stack into multiple smart grid and renewable applications along with development of existing expertise into AI integration with its patented communications and networking stacks.

The funding round -- a mix of equity and debt financing -- also saw participation from Indian and US family offices.

The company will allocate the raised capital to expand its existing communication technology to various smart grid and renewable energy projects.

It will also invest in developing its team's AI expertise to integrate with its communication and networking technologies, according to a company statement.

With this new round, Probus has raised over USD 8 million in funding till date.