Bhubaneswar-based IoT enabled climate tech startup Aurassure has raised INR 4 Crore in a seed round led by Unicorn India Ventures.
The funds raised will be deployed to strengthen product capabilities by creating a data analytics team, acquiring product certifications for international scaling, and sales team expansion for growing reach to multiple cities.
Aurassure using its powerful IoT enabled intelligent systems has the capabilities to collect real time data and analyse it to provide accurate forecasts and updates on disasters and frequently changing weather patterns like floods, air pollution, and rainfall along with other climate data which can empower governments and citizens in making decisions for a healthy and safe lifestyle. The Company has successfully onboarded prestigious clients including Tata Realty, L&T Realty, P&G, Honeywell, IIT Bombay and Google. Aurassure has witnessed a 40% QoQ growth and has expanded its operations to cities like Bhubaneswar, Chennai, Aurangabad, Rajkot and Delhi.
Aurassure aims to bring people together to fight against the rising issues of the environment, namely pollution, global warming, and climate change. Akanksha Priyadarshini, Co-founder & CEO, Aurassure, says, “Empowering communities with hyperlocal data to build resilience against climate change is not just a mission, it’s a responsibility we wholeheartedly embrace. Together, we’re not just innovating but driving a positive change for a healthier, more resilient, and sustainable future, one city at a time. Our vision goes beyond data collection. We aim to be instrumental in policy-level decision-making by providing vital insights to form responsible environmental practices. We also plan to offer robust decision support systems and environmental consultancy services, guiding governments and organisations in making sustainable choices.”
Aurassure’s mission is to improve the liveability of cities of the world, impacting billions of lives by enabling responsible climate actions through real-time data & AI. The company provides cutting-edge sensor-based devices and AI-powered analytics platforms that empower governments, corporations, researchers, and communities to make informed decisions and take meaningful action to protect our environment. The Company has recently launched Aurassure Care, a smart air quality monitoring device for indoor environment monitoring that can be integrated with BMS and air purification solutions. It can also enhance the green ratings of commercial spaces. The Company also has products like Aurassure Trust for flood monitoring designed to provide crucial and timely insights for flood-prone areas and Aurassure Infra for outdoor air quality weather and GHG monitoring.
Commenting on the investment, Bikram Mahajan, Partner, Unicorn India Ventures, says, “Although the global environment monitoring market is valued at over $12 billion, of the 1.4 million devices needed just for air quality monitoring, only 3% are operational, underscoring the urgent need for action and the vast market potential. In our quest for a scalable climate-tech venture, Aurassure stood out. In a world choked by data silos and the escalating threat of climate change and air pollution, the Aurassure platform leverages AI, machine learning, and data points from multiple devices to generate accurate insights and actionable intel. Driven by a powerhouse team, Aurassure resonated with our ethos of championing disruptors, and we’re thrilled to partner with them as they redefine environmental monitoring to pave the way for a cleaner future. “
Aurassure’s notable revenue growth in the last one year underscores the escalating demand for smart environment tech products and services, setting the stage for the company to potentially multiply its earnings by 6x in 2024. In the next 12 – 18 months, Aurassure aims to deploy over 1000 sensor devices in 8 cities across the country. It is also targeting to expand in Southeast Asia and Africa, and subsequently, into Europe and the United States. The company’s growth plans for the next year are marked by geographical expansion, revenue diversification, team strengthening, and global readiness along with certifications for international scaling.
About Aurassure:
Aurassure, a Bhubaneswar-based climate tech startup, is a pioneering environmental technology company committed to revolutionizing sustainability efforts through hyperlocal data insights. Founded by NIT Rourkela alumni, including Akanksha Priyadarshini, Vamsi Krishna, Raviteja Cherukuri, and Omprakash Patra, with a combined experience of over 25 years in developing IoT-based products, with a mission to improve the liveability of cities around the world impacting billions of lives by enabling responsible climate actions through real-time data & AI. We specialize in providing comprehensive data on air quality, urban flood monitoring, weather patterns, and more. Our cutting-edge sensor-based devices and AI-powered analytics platform empower governments, corporations, researchers, and communities to make informed decisions and take meaningful action to protect our environment. With a visionary mission to transform our world, Aurassure strengthens resilience and environmental sustainability, fostering a greener and healthier future.
About Unicorn India Ventures:
Started in 2016 by Bhaskar Majumdar and Anil Joshi, Unicorn India Ventures is a technology focused early-stage venture fund that invests capital in emerging and visionary startups. Unicorn India Ventures launched its first fund with a corpus of Rs 100 crore From its first Fund, UIV has invested in 17 companies like SmartCoin, Open Bank, Sequretek, Pharmarack, Genrobotics, Clootrack, FutureCure to mention some. The Internal Rate of Return (IRR) was more than 60 percent year over year. The Fund has emerged as the best performing early stage fund in India with the stellar exits provided by the fund to its LPs.
Fund II is a Rs 300 crore fund launched in 2020 that has invested in 20 companies so far like Gamerji, ForeignAdmits, Probus, Daalchini, Esmito, Finin. Most of the portfolio is scaling up fast and has had several uprounds.
Unicorn India Ventures has recently announced its first close of Rs 1000 crore Fund III. The first close reached at Rs 225 crore. With this Fund, UIV aims to build a portfolio of 25 startups that are focused on global SaaS and digital platforms. From the sector’s perspective, the Fund is looking at newer sectors of climate tech, agritech, spacetech and the semiconductor ecosystem
