ConnectM, a company backed by Sasken and IDG Ventures, focuses on Telecom, Utilities, Industrial, Construction, IT/ITES Enterprises and Transportation market segments. ConnectM’s USP is to collect data remotely and use domain specific analytics to deliver actionable business intelligence. ConnectM addresses business problems by providing consulting and end-to-end solutions.
Applications in the after market services domain, like remote condition monitoring & predictive maintenance, water management, energy conservation, and remote asset management are being revolutionized by the advent of M2M communication.
According to this report, ConnectM is planning to tap the energy conservation market and is seeing increased business from telecom sector and will be rolling out its solution to 500 towers.
ConnectM, a joint venture firm of Sasken and IDG Ventures, is betting on green energy. The company is seeing good traction in telecom and utilities verticals. “We have seen increased business from telecom sector in the past few months. The company will be rolling out its solutions to 500 towers in India shortly,” said Murali Ramalingam, MD of ConnectM.
ConnectM, which claims that its solution can help save up to 20 per cent of energy bills, has rolled out its energy management solutions to 1.6 million sq ft of commercial space in India.
A study by the firm found that 600 of the largest companies alone spend in excess of $25 billion on energy. Of these, IT services, banking, hospitality and media spend the most on IT infrastructure, building assets and field equipment.
The company said that energy management can help reduce these spends by at least $2.5-$3 billion for the enterprise. At two times that sum, the energy management market in India can easily be pegged at upwards of $5 billion.
Panchabuta has recently mentioned that there is an active consideration by Indian government to ask telecom companies to install solar panels to generate backup power for cellphone towers. A proposal is being finalized by the ministry of new and renewable energy (MNRE) aimed at containing the use of polluting diesel generators to provide back-up power.