OAKS Asset Management leads Keus in Rs 1 billion funding round

09 Feb 2024 CW Team

In what is claimed to be the most significant investment in the smart home automation sector, Hyderabad-based startup Keus Smart Home has secured Rs 1 billion in a funding round led by private equity player OAKS Asset Management in its inaugural external funding round.

Keus disclosed that OAKS Consumer Fund, a mid-market PE fund, spearheaded the funding round with Rs 800 million, and the founders Briject Chandwani and Subram Kapoor contributed the remaining amount.

Vikram Nirula, founding partner of True North PE and former MD of The Carlyle Group PE, along with Amit Mehta, director and head of the Family Office at LNB Group, are already counted among the early supporters of Keus Smart Home.

The startup announced its intention to utilise the funds to establish new experience centres in major cities such as Delhi NCR, Bangalore, Pune, and Mumbai, while also extending its footprint in Tier I & II cities and strengthening its position as a market leader in Hyderabad.

Additionally, the funds raised will be allocated for the development of new product offerings in home automation and lighting, strategically positioning the brand in the premium homes segment, according to Keus.

Subram Kapoor, the executive director and founder of Keus, stated that the funding will establish Keus as a pioneer in the smart home automation sector. He emphasised, "Keus products are centered around design thinking-based deep innovation, converging with an ethos of operational excellence and customer service."

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