Smartron secures $200 million from GEM

Smartron today announced that it has signed an agreement with the Global Emerging Markets Group (GEM) in which GEM will provide a Share Subscription Facility of up to $200 million, to be drawn at the option of the company.

Smartron has launched laptops, wearables and smart home hub as well as ebikes, and battery packs to IoT modules, all powered by tronX, its own AIOT SW platform over the past 5 years.

The company has been launching many products powered by tronX platform across personal (Mobile), Smart Home, Smart Infra, EV, and Energy markets, which it is planning to focus for the next 3 to 5 years.

Mahesh Lingareddy, Founder & Chairman, Smartron Group, said:

This up to $200M investment announcement between Smartron and GEM will help support the Company’s future growth and potential public listing plans. Over the next 3-5 years, Smartron will be focused on driving growth by targeting primarily Smart Home, Smart Infra, EV, and Energy verticals powered by tronX platform, manufactured by tworks, and cared by tlife. The tronX platform is also being offered as a B2B service to Companies that are targeting various AIoT applications. Smartron is uniquely positioned to benefit from huge opportunities across the INDO-US corridor thanks to the ongoing global supply chain challenges and (re)alignments.

Author: Srivatsan Sridhar

Srivatsan Sridhar is a Mobile Technology Enthusiast who is passionate about Mobile phones and Mobile apps. He uses the phones he reviews as his main phone. You can follow him on Twitter and Instagram