iRam Technologies, a Bangalore Based innovative start-up developing solutions for what has been billed as the ‘Internet of Things’, today announced the closing of an undisclosed amount towards its seed capital from strategic investors, including Livewire Advertising Pvt. Ltd. And iNetSolv. A portion of the fund will be used for financing its R&D, hiring, prototypes and beta trials.
iRam will initially produce solutions and tools for end-users to reduce their energy consumption and facilitate smart grid implementation. These solutions will be based on IPv6 and cost-effective wireless solutions that can be adapted to suit the Indian market.
In response to the initial financing, Mr. Idris T. Vasi, iRam co-founder, commented: “We now have a terrific opportunity to accelerate the development and deployment of next generation IPv6-based solutions. We are pleased to have a leading set of investors who share our vision.”
Mr. Arvind Tadakamalla, Managing Director of Livewires Advertising, observed: “We are pleased to partner with one of the leading IPv6 start-up innovators in India. We made this investment because we believe that the evolving facets of the Internet would democratize its benefits and spread them more widely in India and other emerging countries. Thoughtfully applied, the socalled ‘Internet of Things’ can help produce significant efficiencies for small, medium and large companies, utilities and government organizations.”
A typical Indian (the common-man) has still not seen the benefits of Internet Technology. This provides iRam a great opportunity to develop various applications for Indian market. “This funding would help us to realize our mission to bring Internet Technology and Applications closer to people improving their living standards,” said Mr. Syam Madanapalli, iRam Cofounder and MD.
About iRam Technologies
iRam Technologies is a Bangalore based startup founded by experienced professionals based in Bangalore, Singapore and the US with a mission to develop innovative smart-grid products and solutions that will enable machines and humans to seamlessly connect to the Mobile Internet. iRam’s products connect and will be an integral part of the ‘Internet of Things’, whereby multitudinous devices, appliances and objects connect to the Internet for various solutions, including energy conservation and process automation through remote control and management. In this regard, iRam’s initial target markets are Smart Grid, Building/Residential Automation and Environmental Monitoring.
For additional information, please visit www.iramtechnologies.net
