Denvik Technology, a Chennai-based provider of cutting-edge IoT solutions raises a strategic investment round led by CI Hub, an investment firm that invests growth capital in high potential Indian companies to help them accelerate their global expansion.
The investment will be used by Denvik to expand their customer base for Industrial IoT solutions further in Europe and the MENA region (Middle East, North Africa), scale the team and accelerate market adoption of their latest IoT-driven smart solution for the global poultry farming market.
Commenting on the strategic investment, Syed Bukhari, Founder & Vice Chairman, Gibraltar Technologies; Founder Director, CIIC; Founder & Director, CI Hub, said “We are excited to invest in a deep-tech company like Denvik Technology with a proven track record of success. The team at Denvik have a wealth of experience in building and deploying cutting-edge, robust, easy to use IoT solutions. The global IoT market is a huge opportunity as enterprises of all sizes look to benefit from IoT technology. We believe that Denvik is uniquely positioned to grow and take advantage of this large addressable market.”
Mohammed Mohideen, Co-founder, Denvik Technology Private Limited, said “We have been successfully delivering cutting-edge technology solutions for global clients for the last 15 years. With this strategic investment, we will be expanding further in key markets like the Middle East and Europe and establish near-shore offices to better service our clients there. We will also use the investment to accelerate sales and scale adoption of our latest product offering “Ornithon” which tackles the unmet needs of poultry farmers world-wide.”