Silvan Innovation Labs a Bangalore based home automation solutions provider has raised a funding of Rs 6 crore from Infuse Ventures a clean technology focused venture firm. The funds will be utilized in marketing and to create new home automation products such as energy management.
It was founded in 2008 by Avinash Gautam, Nandakumar Raghavan, Giri Krishna & Mohan G. It provides technology enabled security & entertainment options across hospitality, commercial and residential sectors. After its launch, it has worked with developers including Prestige, Tata housing, Lodha, etc.
Avinash Gautam, CEO of Silvan Innovation Labs said
“We also have entertainment oriented products like the zPly, which is a digital music zoning system that streams and plays centrally stored music anywhere within the house, and Lumos, an easy retrofit light automation which can automatically dim and brighten lights in different parts of the house through a few taps on a smartphone; this can also be used through conventional switches.”
Recently the Silvan Innovation has launched 4 consumer facing products with a price range between Rs 10,000 to Rs 20,000 which includes security systems, music zoning system, light automation system and WiFi- enabled video doorbell.
It is further plans to introduce the products 5,000 stores across India in the next 6 months. It claims to have completed over 2,000 automated homes, and about 40 real estate projects.
In January 2016, The Chennai Angels invested about $500k in Silvan Innovation Labs.
Shyam Menon, co-founder and Investment Director at Infuse Ventures, said,
“We believe home automation and home energy management are spaces poised to take off and have partnered with Silvan on this journey. It is encouraging to see that in a short span of six months, the company has been able to draw upon its deep B2B experience in this space and build a sleek suite of desirable consumer products. Looking at the pace with which the company is executing, we believe Silvan’s consumer offerings will see strong adoption soon.”