Power sector-focused technology company Harmonizer India has raised an undisclosed amount from former cricketer Kapil Dev.
He will hold an undisclosed stake in the company’s artificial intelligence, machine learning and internet of things (IoT)-focused energy efficiency solutions technology, as per a statement.
Harmonizer India’s CEO Manoj Soni said, “There are tremendous opportunities for further growth and the company is aiming to achieve a significant portion. With government’s new initiatives, India is set to become a global hub for artificial intelligence. The IoT market in India is poised to reach $15 Bn by 2020, accounting for nearly 5% of the total global market.”
“I have invested in Harmonizer India to support the Indian brainpower and technocrats who have done so well to acquire 14 patents,” Dev said in a statement.
Kapil Dev has been actively investing in Indian startups since 2015 when he first invested in Mumbai based Samco Ventures. As an angel investor, Dev has invested in online grocery startup PeopleEasy.com.
In 2018, Dev entered into a partnership with B2B marketplace Pumpkart for brand endorsements. Last year, Delhi-based online market network WizCounsel raised INR 1 Cr in an angel round led by the cricketer among others.
“We have R&D Centre at Bengaluru and presence in India, UAE and Canada,” said M. R. Srinivas, CTO and R&D head, Harmonizer India.