Bengaluru-based AngelPrime, a seed-stage Venture Capital Fund announced an investment of $500,000 in Nimble Wireless, a Chennai-based company specializing in IoT and machine-to-machine (M2M) technologies. Nimble Wireless will use this new funding to develop new technologies, expand research & development capabilities and also for marketing.
Founded by Siva Sivakumar and Naveen Sabhapathy, Nimble Wireless helps customers to wirelessly connect, control and manage their remote assets. The company provides state-of-the-art M2M and connected wireless products and cloud based software services. Also, the firm is working on launching its next generation products and solutions with more advanced features and technologies such as advanced environmental sensors, BLE, industry leading battery life, location accuracy and user friendly mobile & web applications.
AngelPrime was started in 2011 by serial entrepreneurs Bala Parthasarathy, Sanjay Swamy, Shripati Acharya and Amit Somani, it is focused on start-ups with disruptive ideas that are looking to redefine certain market segments in India and globally. It’s portfolio companies include ZipDial (acquired by Twitter), Ezetap, Smart Owner, Synup and HackerEarth.