Update: Speaking to MediaNama, Sumit D Chowdhury elaborated that Gaia Smart Cities has bought 100% stake in netCORE’s IoT business which includes all their IP, customers and six employees who were developing the platform. In return, netCORE will get a minority stake in Gaia Smart Cities. Chowdhury declined to give the size of the deal and the size of netCORE’s stake in Gaia Smart Cities.
Chowdhury added that netCORE’s platform will allow Gaia’s systems to switch between GSM and their existing low power WAN networks.
Earlier: Gaia Smart Cities, a machine-to-machine communications company, has acquired netCORE’s Internet of Things (IoT) business for an undisclosed amount in an equity deal, reports Press Trust of India. netCORE had started an IoT platform for real time data capturing and analysis called Cloud4One in 2014.
With this deal Gaia’s customer base has increased to 32, the publication added and will gain netCORE’s marquee customers including Amul and ACC Cements. We tried reaching to Sumit D Chowdhury, founder and CEO of Gaia, Smart Cities, via phone and text messages for a comment and will update once we hear from them.
Cloud4One essentially provides sensors to measure location, temperature, pressure, humidity, weight etc., on movable assets like trucks, cranes etc., and immovable ones like ATMs, generators, grids etc. Data is relayed to its servers for analysis, providing solutions for movable asset monitoring, remote machinery data, operations and maintenance and temperature controlled warehousing.
The platform also offered human asset management for field operations, sales force automation, field service fulfillment and remote attendance, along with solutions for logistics management.
Gaia Smart Cities was founded last year by former Reliance Jio president Sumit D Chowdhury and Bipin Pradeep Kumar. Its IoT solutions include smart water metering and sensor networks for asset tracking. Gaia also has a Command Center that monitors various events in a city which collects data generated from different sources and devices, and presents it to city administrators and businesses for different uses.
Other developments in IoT
– Earlier this month, Reliance Industries Limited invested $16 million in US-based IoT starteuo NetraDyne. According to RIL, the deal has “potential synergies with telecom and digital business initiatives of RIL (through its subsidiaries) apart from commercialization benefits in India.”
– Last month, IBM deployed its smart city solutions at the Rashtrapati Bhavan in Delhi in partnership with the Government. This includes energy management, water management, horticulture management, smart waste and smart security systems, controlled through the Intelligent Operation centre (IOC) and mobile applications monitors.
– In March, Cisco signed an MoU with the Andhra Pradesh government to set up an Internet of Everything (IoE) Innovation center in Visakhapatnam. The center would enable the company’s partners and startups to build IoT solutions and carry out rapid prototyping of products.
– In February, Nokia Growth Partners (NGP) announced a new $350 million fund IV, at the Mobile World Congress in Barcelona, for investing in IoT companies in the US, Europe, India and China.