Chennai-based WEGot Utilities, has raised INR 135 million from an investor club, including leading point of sale software solution provider, GoFrugal Technologies, Bangalore-based Brigade Innovations and a group of angel investors. The Spice Route Legal team advising
WEGot comprised of Mathew Chacko, Nikita Swamy, Kavya Pankaj, and Aishwarya Prasad.
WEGot Utilities is a start-up that works on utility management of essential resources such as water, gas, and electricity aiming to measure, manage and conserve these resources. In a world striving to achieve sustainability, utility management is of utmost importance. The purpose behind establishing WEGot Utilities is to ensure the judicious utilisation of all essential and finite resources.
The company uses remote communication and data analytics based on a gamification model, to determine usage patterns and reduce wastage. Devices can be controlled from remote locations and there is a detailed usage report accessible to the user to ascertain that finite resources are used in a sustainable manner. To ease out the entire process, WEGot has also integrated a payment gateway on its platform, that can help the users make electricity, water and gas bill payments in a timely manner and keep a track of spending.
The purpose of the latest round of institutional fundraising is to enable the platform to expand its operations, which is an essential requirement in the current climate of resource scarcity.
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