In an announcement, Stanza Dwelling mentioned the acquisition is predicted to strengthen its in-house know-how ecosystem that serves as a spine of the enterprise.
It should additionally fast-track the corporate’s deal with growing highly-customised IoT-based options for the managed lodging sector.
Backed by IvyCap Ventures and Instances Web, Singularity Automation was launched in 2017 to develop and implement ingenious IoT-enabled options and merchandise for the managed dwelling area.
The Bangalore-based startup’s present product portfolio consists of good door locks, safe entry controllers and good vitality meters, amongst others.
Anindya Dutta, managing director and cofounder of Stanza Dwelling, mentioned, “Expertise has at all times been on the forefront of every little thing we do at Stanza Dwelling. We stay up for customising their present options and creating contemporary, IoT-based platforms collectively, as we construct a first-of-its-kind managed dwelling ecosystem”.
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Stanza Dwelling just lately raised $57 million (Rs 425 crore) in debt financing from Kotak Mahindra Bank, RBL Bank and Alteria Capital.
Up to now, Stanza Dwelling has raised near $220 million in debt and fairness mixed. Publish the acquisition, Stanza Dwelling may have a 100-plus member robust know-how workforce.
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