Inspira Enterprise, has announced its partnership with iRAM Technologies, specialised in smart street lighting and parking solutions based on Internet of Things to develop convergent solutions for India's smart cities.
Apart from infusing fund in the company, the stake sale will give iRAM access to Inspira Enterprise’s sales force and established relation with government verticals in the Smart City space. iRAM will use this investment for new product development, feature enhancement in existing products, build on their R&D and hire new talent. Also, Vishal Jain, Director, Inspira Enterprise, will join the board of iRAM, bringing with him his insights and expertise in large strategic business deals.
Udaya Bhaskar Rao Abburu, CEO & Managing Director, iRAM Technologies, said, “This investment is significant for iRAM Technologies. Besides infusing fresh funds in the company, it will give us access to Inspira’s well entrenched sales team and their existing relations with government agencies. This is a strategic move that will give fillip to the growth strategies of iRAM and help us emerge as a key player in the smart city solutions space.”