While energy efficiency initiatives have so far mainly focused on retrofits (more energy efficient light bulbs, air conditioners, etc.), it is equally important to drive efficiency on the consumption side. Co-founded in 2013 by Rahul Bhalla (CEO), Amarjeet Singh (CTO) and Vishal Bansal (COO), Zenatix makes IoT based products that use advanced machine learning models to reduce energy consumption of large commercial consumers by 10-30%.
The start-up’s IoT based Building Management System (BMS)—WattMan—is designed for customers ranging from quick service restaurants, cold storages, retail chains, bank branches and ATMs. “Given the distributed nature of retail/ banking set-ups (thousands of outlets/ branches, spread across the country), having a control over electricity spend and providing the right customer experience at the same time is a big challenge,” explains Singh. WattMan addresses these challenges in an automated manner through its cloud based intelligent controls driven by advanced machine learning algorithms. It employs proprietary firmware for performing automatic sensing and control. Collected data is used to develop machine learning driven models deciding optimal operational settings based on external factors like weather and footfall, thus allowing sophisticated control.
The other product, WattMate, delivers operational energy efficiency to large commercial buildings such as offices, hotels and hospitals through advanced energy data analytics. For industrial and manufacturing units, it has WattMonitor which is leveraged for real-time energy monitoring and energy trading services. It has another focused product called WattCharge that is designed to address apartment complexes’ billing and collection challenges.
Extensive research by Singhrevealed that commercial buildings waste more than 30% of the electricity they buy. Therefore, Zenatix decided to disrupt the traditional energy efficiency market by focusing on operational energy efficiency and using technology and advanced data analytics to achieve that. “Governments around the world are adding electricity generation capacities with a combination of non-renewable and renewable resources, but operational energy efficiency (use of existing infrastructure optimally) is largely overlooked,” says Singh. Currently, Zenatix is focused on retail chains and banks as the target customer segment in the India and South-East Asia markets.
Zenatix works on a SaaS based model and there is no cost involved for retrofitting the hardware as it charges customers on a subscription model that covers the cost of hardware and software. The benefit to the customer (largely quantified as energy efficiency) is three to four times the subscription amount. The amount of subscription depends on the size of the site, which varies from a small site like an ATM to that of a large grocery store.
The firm raised pre-series A round of funding led by pi Ventures with participation from its existing investor, Blume Ventures, in February this year.