NEW DELHI: Homegrown technology firm Smartron is on an acquisition spree. After the February takeover of e-bike firm Volta, Smartron has now picked up a majority stake in smart home automation startup MiQASA and is eyeing other possible “investment and collaboration” opportunities in a wide range of segments.
It specialises in designing and developing smart accessories for homes such as smart switches, locks, and cameras, to lights, appliances and controls for home automation.
Mahesh Lingareddy, founder and chairman of Smartron, told Express that the arrangement with MiQASA will see capital infusion and support from the firm. Meanwhile, the start-up’s inclusion in the Smartron fold will expand the ecosystem of the latter’s flagship product -- artificial intelligence-driven IoT platform tronX. The deal will also see MiQASA re-christened as ‘tronX things’.
“Smartron’s investment will help MiQASA scale faster, but we will also expand the tronX ecosystem. That is why we are not looking at this as an acquisition, but a partnership. We want to be known as a company that is building a strong startup network in the country,” Lingareddy said.
According to the firm, since inception, Smartron has invested around Rs 200 crores and is looking at furthering this investment to set-up R&D, launch multiple products and partner with different companies to develop products and devices across various IoT verticals under tronX.
Lingareddy added that the firm might also opt to buy minority stakes in firms, depending on the size and other factors.