- Nimble’s products cater to multiple verticals such as transportation and logistics, telecom infrastructure, green energy and healthcare industries
- Capital will be used to develop new technologies, expand R&D and also for marketing
- Recently, Twitter acquired AngelPrime’s portfolio firm ZipDial
- This is AngelPrime’s first investment in IoT space
AngelPrime, a Bangalore-based seed-stage VC fund, has invested US$ 500,000 in Nimble Wireless, an India- and US-based company specialising in IoT (Internet of Things) and M2M (machine-to-machine) technologies.
Nimble Wireless will use the capital to develop new technologies, expand research and development capabilities, and also for marketing to enable faster growth.
Started in 2007 by Siva Sivakumar and Naveen Sabhapathy, Nimble helps customers to wirelessly connect, control and manage their remote assets. The company provides M2M and connected wireless products and cloud-based software services encompassing cellular, GPS, and Bluetooth and Zigbee technologies.
Nimble connects critical industrial assets to cloud and gathers intelligence to monitor, control and manage them through wireless sensors. The company offers customised M2M/IoT products geared towards multiple verticals such as transportation and logistics, telecom infrastructure, green energy, and healthcare industries.
“We are already a revenue-generating company and are profitable. We have around 100 clients across India and the US. We are seeing a huge growth opportunities in the cold storage segment in India and asset tracking space in the US. This funding will help us tap the local market,” Nimble’s Co-founder and CEO Sivakumar told e27.
“We see a huge potential for companies in the IoT segment in India and Nimble Wireless has been growing exponentially over the last two years with a strong leadership team. Chennai has been witnessing a good number of entrepreneurs in the technology startup ecosystem and we will be happy to invest in more startups in the near future,” said Shripati Acharya, Managing Partner, AngelPrime.
AngelPrime is a Bangalore-based seed fund and incubator started by serial entrepreneurs Bala Parthasarathy, Sanjay Swamy, and Acharya. The fund recently roped in former MakeMyTrip senior executive Amit Somani as a Partner. AngelPrime has invested in around half-a-dozen companies including ZipDial (acquired by Twitter), Ezetap, Smart Owner, Synup and HackerEarth.
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