IoT Solution Provider EroNkan Bags Funding From One Of Country’s Oldest VC Firm GVFL

Image
IOT

EroNkan, a company which offers IoT based solutions to enterprises working in various industries has bagged an undisclosed Series A capital from Ahmedabad based VC firm GVFL.

Launched in 2014 by Ketan Parekh, Vish Desai, and Rajan Vasa, the platform offers tools, technology, consulting services and insights into industrial processes, machine performance and shop-floor dynamics allowing the enterprise companies make decisions which help them improve productivity, quality across the company.

EroNkanThe firm said that the fresh funds will help the company enhance its technology platform and scale operations as well. Industries like food and beverages, pharmaceuticals and manufacturing are the main focus of EroNkan. While the firm is headquartered in Ahmedabad, it has a development centre in Bangalore. The IoT solutions of EroNkan also helps manufacturers track operational equipment efficiencies (OEE) in real-time, allowing them to improve quality and productivity.

EroNkan CEO & Co-founder Ketan Parekh commenting about the capital infusion said, “The Industry 4.0 and manufacturing analytics market has a huge potential for growth and the capital infusion from GVFL will be used to enhance the plant, works technology platform and to scale operations. We will be able to grow faster in India and also start planning its foray in the international market."

Sanjay Randhar, Managing Director of GVFL commenting on the investment said, EroNkan has the requisite expertise and insights to enable many industries to adopt the IOT and data automation technology to work towards setting up the Industry 4.0 standard. We are happy to back promoters with a good professional track record in establishing and sustaining businesses in the past."

Add new comment

About Author