Jan 4: Picostone Technology, the startup company that is into home automation solutions, has made its Gujarat foray with a range of products that are set to allow people to have remote control of all home devices. In Gujarat, the company would be focussing on 6 cities – Ahmedabad, Baroda, Gandhinagar, Botad, Rajkot and Surat, to begin with.
Picostone has also signed up with Gujarat’s leading distributor in aiding their expansion plan and promoting their products reach across individual end users across Gujarat.
According to the company, Gujarat is the third location in its expansion plan, post Mumbai and Chennai. High smartphone penetration, increasing disposable income, improving lifestyle and growing awareness and need of tech-based products provide a huge growth opportunity for Picostone.
Gujarat holds strategic importance for new age home automation startups like Picostone as it has the second highest smartphone penetration in India, a rising youth population and has the least unemployment rate amongst all states in India.
The company is also in talks with leading real estate developer from Gujarat, especially Ahmedabad and Vadodra, in incorporating its home automation products as a value added offering to their home buyers.
Picostone home automation products that can control nearly all home devices like lights, fans, air-conditioners, water-heaters, curtains and motion sensors. These products are designed to provide ease of managing & controlling devices, provide malfunctioning warnings and save energy usage leading to monetary savings.
Picostone Technology had raised around Rs 5 crore from Metaform Ventures, a US based investor group headed by Nilesh Jain in India.