Singularity Automation
Smart Home Security Products.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
* | N/A | Acquisition | |
| Total Funding | 000k | ||
Singularity Automation, established in 2017, is a technology firm based in Bengaluru, India, that provides a cloud-based Internet of Things (IoT) platform for the shared economy sector. The company was founded by Akash Goel, Chakradhar Reddy Veeramreddy, and Gaurav Gupta. The founders, both alumni of IIT Kharagpur, bring experience in IoT product development and software engineering, with Reddy having previously worked at Samsung Health Care. Goel, a serial entrepreneur, has a background in scaling early-stage businesses and has exited two previous technology startups.
The company's core business revolves around offering a Software-as-a-Service (SaaS) model to clients in co-living, co-working, student housing, and budget hotel segments. This platform enables property managers to oversee their assets across multiple locations, aiming to improve operational efficiency and centralize control. Revenue is generated through this subscription-based model. The system integrates with various smart devices and sensors, such as smart locks and smart meters, through open APIs, making it device-agnostic.
The platform's features are designed to automate and streamline property management tasks. These include functionalities for smart check-ins, online rent and utility bill payments, energy management, and fraud detection. By providing analytics and a centralized dashboard, Singularity Automation helps property owners monitor equipment utilization and reduce operational costs. The company has secured $1.24 million in funding over three rounds, with its latest Series A round in March 2020 led by IvyCap Ventures Advisors. This capital is intended to support the development of additional IoT products and facilitate expansion into new markets.
Keywords: property technology, IoT platform, co-living management, co-working solutions, smart building automation, SaaS for real estate, student housing technology, budget hotel automation, access control systems, energy management solutions, property management software, Akash Goel, Chakradhar Reddy Veeramreddy, IvyCap Ventures, smart rental management, automated billing, facility management, asset utilization, operational efficiency, enterprise IoT