Environmental IoT startup Oizom secures seed funding
Oizom Instruments, an internet of things (IoT) startup focussed on curbing pollution, has raised an undisclosed amount in seed funding from Centre for Innovation, Incubation & Entrepreneurship (CIIE).
A unit of Indian Institute of Management-Ahmedabad, CIIE incubates technology-based businesses.
Oizom said in a statement that it plans to deploy a Data-as-a-Service (DaaS) model for predictive analytics of environmental health.
"The main use of proceeds includes improving the existing product, new R&D and marketing to tap new opportunities," Oizom's chief marketing officer Jainam Mehta told TechCircle.
The company offers environmental data infrastructure for monitoring, tracking, managing and reducing toxic pollutants in the air, water and soil.
Founded in 2015, Oizom has a mobile application that can explore, analyse and compare the air quality of over 100 cities globally. Oizom Terminal, its analytics platform, provides reports and charts as per the requirement of their clients.
The startup’s co-founder Ankit Vyas said that the company’s solutions are currently live in 10 major cities across four countries.
The Oizom data platform comes with a multichannel interface enabling data access using different media such as web browsers, mobile apps, TV screens, LED display, SMS, emails, website widgets and voice-activation.
“We have seen Oizom evolve over the years. Environmental monitoring and data backed solutions are the need of the hour for today’s cleantech products. We look forward to being a part of Oizom’s next phase of growth,” said Chintan Antani, senior manager for seed investments and portfolio at CIIE.
CIIE claims to have made around 100 investments and mentored about 5,000 startups since 2009.
Last September, CIIE invested an undisclosed amount in Heelium Sports Pvt. Ltd, a startup which makes customised running shoes.
In August last year, Bharat Inclusion Initiative, the seed fund set up by CIIE , invested an undisclosed sum in financial technology platform Kaleidofin.
The fund will invest in social-impact startups and also mentor them over a period of 3-4 years across areas such as financial inclusion, livelihood, education and health.