IoT start-up Briston mops up $1,50,000

NEW DELHI: Briston Technomach, a Delhi-based internet-of-things (IoT) and machine-to-machine (M2M) technologies start-up, has raised its seed round funding of $1,50,000 and is further planning to expand its operations to eight major cities, including Mumbai, Bangalore, Kolkata and Chennai in next three months.

The company, founded by IIT alumni duo Arpeet Gupta and Avnish Kumar, has raised the seed investment by an undisclosed angel investor.

“Energy is a very important aspect in an emerging country where the demand is always greater than the supply. The investment has brought us opportunities to expand into energy usage reduction tools for the consumer market that can make a great impact on the society and reduce overall energy demand," said Arpeet Gupta, CEO, Briston Technomach.

Briston Technomach is presently introducing a technology called "Fuelark" which is a featured product clubbed with data analytics. It helps clients in reducing fuel pilferages by providing them real time fuel consumption data.

“We are planning to set up a data analytics lab, higher new talent and strengthen the technological backend and are in touch with several leading telecom and aviation companies and figuring out how they can leverage this new technology to bring down their operational costs. Besides India, we are also targeting other emerging markets in Asia," said Avnish Kumar, CTO, Briston Technomach.

The company aims to hit an annual revenue of $5 million by the end of financial year 2016.