Smart home automation company Keus has raised Rs 100 crore ($12 million) in its first external round led by private equity player OAKS Asset Management. The OAKS Consumer Fund invested Rs 80 crore and the company’s founders, Brijesh Chandwani and Subram Kapoor, participated in the round with the remaining capital.
The company will utilise the funds by launching new experience centers in major cities, including Delhi NCR, Bangalore, Pune, and Mumbai, expanding in tier I and II cities, and consolidating its position in Hyderabad, Keus said in a press release.
Founded in Hyderabad in 2017, Keus caters to the needs of premium and luxury Indian homeowners. It has so far collaborated with the architects and interior designer community in Hyderabad to deploy its advanced smart home system in over 1,500 premium and luxury residences.
The firm will also develop new product offerings in home automation and lighting, and strategically position the brand in the premium homes segment.
The OAKS Consumer Fund has currently deployed around Rs 1,000 crore across eight investments including Wow Momo, Incred, Credable, Troo Good, FoodLink and now Keus Smart Home.