New Delhi, Nov. 28, 2014: Angel investor and incubator Indian Angel Network (IAN) has announced an undisclosed investment in LoudCell, a startup that is striving to save diesel cost and reduce wastage/inefficiency for diesel generator owners in India and other emerging economies.
IAN said in a press statement that LoudCell offerings, based on the Internet of Things (IoT) and Cloud technology platforms, enable quick scalability. They deliver the most critical need for fuel and energy management at extremely low costs, and is designed to be tamper-proof.
India alone has an estimated installed base of more than 5 million such generators of capacity greater than 15 KVA, and growing. These generators consume US $13 billion worth of diesel, annually. The manufacturing sector faces a huge production and wastage costs.
The LoudCell technology is applicable to India and all emerging economy markets – such as Africa and South East Asia, therefore catering to an even bigger and growing market, claimed IAN. The criticality of this technology rests on the single fact that developing economies are struggling to meet their production costs accruing to high level of fuel costs and spillovers. In addition, it reduces the extensive carbon emission which is an increasing concern for these economies. LoudCell aims to help consumers reduce the carbon footprint, creating a significant environmental impact and estimates to save 0.5 million tons of carbon emissions by 2018. LoudCell is based out of India as well as the United States.
According to a statement by LoudCell co-founders Ramesh Gupta and Ashish Srivastava, the investment raised through IAN will be used for manpower recruitment, business growth, building the LoudCell brand, further development & enhancement of the current products and increasing the portfolio of products.
Pradeep Gupta – IAN co-lead for this investment who will join the LoudCell board said, “IAN’s investment in the venture is primarily driven by the fact that India has a huge market for diesel consumption as it is fast becoming a manufacturing base for most companies. However, the consumers have very limited options in terms of controlling fuel and energy consumption. The limited competition for LoudCell increases the probability of LoudCell becoming a huge player.”
Image Credit: LoudCell
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