Description
Overview of ThingsUp:
ThingsUp helps companies to make their products smart, connected and IoT enabled within weeks. Their current focus is serving clients from the Cold Supply Chain and Electric Vehicle segment.
Following are a few highlights of ThingsUp’s Solution:
- The End to End tracking feature set of the platform sets ThingsUp apart from the players who are providing one feature set as the complete solution.
- Currently the ThingsUp platform manages 10,000 IoT nodes at any given point and this can go to a capability of 1 Mn IoT nodes in the future.
- With respect to the sensor’s capability, in their entire track record of operations there were only 0.1% sensors that were replaced due to damage.
- Notable clientele of ThingsUP include Amul, Rebel Foods, Govind Milk, Caravan Logistics, and Noto ice creams.
- The diary based clients using ThingsUp, save 30% to 40% of the wastage in their cold supply chain. A client company with a turnover of 100 to 150 Cr INR faces losses of 2-3 Cr INR due to supply chain challenges, with the ThingsUp solution one can save around 1 to 1.4 Cr INR ( while investing around 15 to 20 lakh in the solution).
Also, following are the few highlights of the last quarter metrics of ThingsUp for your reference:
- Last Quarter Revenue: 1.23 Cr INR
- MoM Growth percentage: 22%
- Added 4 new Enterprise customers
Details of the round :
The company is looking to raise INR 3.75 Cr in the current round. With a Pre-Money valuation of INR 25 Cr. Have firm commitments from a micro VC for INR 1 Cr.
They are looking to raise 1.5 Cr from Lead Angels Network. Deal Leads – Mr. Senthil and Mr. Saumil have sent in their commitment of INR 5 lakhs each.
The minimum commitment to the company is INR 5 Lakhs. In case commitments exceed the ask amount, allotment will be on the “First Come, First Serve” basis.
