Tata Power and Social Alpha announce funding in Industrial IoT startup ‘URJ

Kolkata, Apr 06 (UNI) Tata Power and Social Alpha have introduced funding in Industrial IOT startup ‘URJA’ – an revolutionary answer consisting of Smart Sensors and Analytics platform based by Saurabh Jhamb and Anant Jhawar in 2017.
With the infusion of latest funding, the corporate goals to scale up its gross sales technique, broaden B2B enterprise and strengthen their back-end expertise utilizing superior synthetic intelligence/machine studying capabilities.

URJA has been awarded a patent on the sensor expertise and analytics platform that generates ‘real-time actionable insights’ for manufacturing facility flooring monitoring & automation. The URJA sensors manufactured in-house have enabled small and medium companies to avoid wasting on their electrical energy consumption by detecting power losses and predicting upkeep of manufacturing equipment. With this providing, Tata Power goals to be a totally built-in Energy as a Service (EaaS) answer supplier with area of interest Smart Energy Management choices. Tata Power believes in rising applied sciences which can assist business & industrial customers to effectively handle their power consumption via its choices.

“We are glad to strengthen our partnership with a deep tech company like URJA. It shares our goal of delivering enhanced value-added energy management experience for customers. With this seed support, we look forward to creating a robust solutions to offer newer services to our customers in the space of energy consumption and optimization.” mentioned Dr Praveer Sinha, CEO & MD, Tata Power.

According to Founders, URJA is estimated to doubtlessly save over USD 2 billion via its patented Sensors & Analytics platform and has already tracked ₹20 Cr price power consumption via URJA EcoSense until now.

“We are just scratching the surface of how powerful device-level insights can be when it’s offered at a massive scale to a Manufacturing & Power ecosystem. The financial backing of Social Alpha and Tata Power will help us execute our vision even more rapidly and build scalable products, learning from experience, perspective and relationships of a leading Power Company,” mentioned Saurabh Jhamb, Chief Executive Officer, URJA.

RISE Institute Sweden has estimated that device-level power improvements comparable to URJA have potential to allow the avoidance of 13 MtCO2e per 12 months by 2030. URJA is being incubated since 2019 at Social Alpha’s Clean Energy International Incubation Centre (CEIIC), a joint initiative of Government of India and Tata Trusts, and supported by Department of Biotechnology (DBT), BIRAC, Tata Power and Tata Power-DDL. CEIIC is India’s first worldwide incubator in clear power below the aegis of Mission Innovation.

Manoj Kumar, Founder and CEO of Social Alpha, mentioned, “We incubated URJA at our Clean Energy Lab – Clean Energy International Incubation Centre in 2019. We have, since then, seen their progress and commitment to build an energy efficient future with their patented sensor technology innovation. At Social Alpha, we are committed heavily to strengthen our investments in clean energy and climate tech start-ups as the world combats climate crisis. With our co-investment in URJA alongside Tata Power, the company will have access to our entire ecosystem of technology and business offerings and investor network to help them become growth-ready. The future is bright for clean energy start-ups and we can’t wait to see the journey unfold for URJA.”
This follows a spurt of funding in IoT & Smart Sensor applied sciences by main world corporates throughout the coronavirus lockdown.

UNI XC RN

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