Picostone to focus into 6 city expansion in Gujarat, partner with real estate developers to provide home automation solutions
Home automation startup Picostone Technology has forayed into Gujarat with a range of products that will allow people to have remote control of all home devices. The startup is focussing on 6 cities Ahmadabad, Baroda, Gandhinagar, Botad, Rajkot and Surat in Gujarat to begin and has signed up with Gujarat’s leading distributor in aiding their expansion plan and promoting their products reach across individual end users across Gujarat.
Virang Jhaveri, co-founder and CEO of Picostone stated ‘Gujarat is the third location in our expansion plan post Mumbai and Chennai. High smartphone penetration, increasing disposable income, improving lifestyle and growing awareness and need of tech-based products provide a huge growth opportunity for us’.
Gujarat holds strategic importance for new age home automation startups like Picostone as it has the second highest smartphone penetration in India, a rising youth population and has the least unemployment rate amongst all states in India.
‘We are also in talks with leading real estate developer from Gujarat, especially Ahmedabad and Vadodra, in incorporating our home automation products as a value added offering to their home buyers’ added Mr. Jhaveri.
Picostone home automation products that can control nearly all home devices like lights, fans, air-conditioners, water-heaters, curtains and motion sensors. These products are designed to provide ease of managing & controlling devices, provide malfunctioning warnings and save energy usage leading to monetary savings.
‘Home automation products have moved beyond their traditional function of ease of management to providing users with value based services that can lead to monetary savings and, in certain cases, lives due to the integration of AI’ adds Niket Sarvaiya, COO and co-founder of Picostone.
Picostone Technology raised around INR 5 crore from Metaform Ventures, a US based investor group headed by Nilesh Jain in India.