Smart home automation player Keus Smart Home has raised Rs 100 crore from private equity investor OAKS Asset Management, the company announced on Monday. The round was led with Rs 80 crore by OAKS Consumer Fund, a mid-market PE fund while the company’s founders, Brijesh Chandwani and Subram Kapoor, participated in the round for the balance amount.
Subram Kapoor, Executive Director and Founder of Keus Smart Home, says, “Keus products are all about design thinking based deep innovation, converging with an ethos of operational excellence and customer service. This round of funding will position Keus as a vanguard in the smart home automation space.”
Keus said it is the largest amount invested in the smart home automation segment in India by any player and will use the capital to launch new experience centres in Delhi NCR, Bengaluru, Pune, and Mumbai, expanding to Tier I & II cities. In addition, the funds will be used to develop new product offerings in home automation and lighting and strategically position the brand in the premium homes segment.
Vishal Ootam, Founder and CEO of OAKS Asset Management says, “We are pleased to lead the funding round for Keus Smart Home and support their vision of transforming the home automation landscape in India. We love Keus’ commitment to design thinking and their DNA of constant innovation and are confident that this will position them as the bellwether in this space.”
Keus Smart Home includes Vikram Nirula (Founding Partner, True North PE, and Former MD, The Carlyle Group PE) and Amit Mehta (Director and Head of Family Office at LNB Group) among its early investors.
Founded in Hyderabad in 2017, the company has built a wireless automation system for premium and luxury Indian homeowners. The company had previously raised capital from India Value Fund in 2009. Its founders Brijesh Chandwani and Subram Kapoor had earlier founded fibre-based high-speed broadband service Beam Telecom and exited from the business in 2014.
Keus Smart Home has so far collaborated with the architects and interior designer community in Hyderabad to deploy its smart home system in over 1,500 premium and luxury residences.
The home automation market in India is expected to grow to $25.64 billion in size by 2030 in comparison to $4.83 billion in 2022, as per research firm Research and Markets.
