Polaris Smart Metering announced that it has secured ₹710 crore in financing from British International Investment (BII), the UK’s development finance institution and impact investor, for its subsidiary Hooghly Smart Metering Private Limited.
Funding to boost smart meter deployment in West Bengal
According to a company statement, the financing will support the deployment of over 2.2 million smart meters in West Bengal. This initiative is expected to strengthen Polaris’ footprint in Advanced Metering Infrastructure (AMI) and contribute to India’s broader energy transition agenda.
The rollout will help make power distribution more efficient, open, and reliable, which is in line with national efforts to modernise the electricity network.
Strengthening AMI capabilities and operations
Polaris Smart Metering is a homegrown, integrated provider of smart metering solutions, delivering end-to-end AMI capabilities. It makes meters, installs them, builds communications networks, and makes software platforms that help utilities run more efficiently and provide better service to customers.
The latest funding is expected to accelerate Polaris’ expansion and reinforce its position in India’s evolving smart metering market.
Leadership comments highlight strategic importance
Commenting on the development, Yashraj Khaitan, Founder & CEO, Polaris, said,
“This financing marks an important milestone in Polaris’ journey to help build a smarter, more transparent, and future-ready power distribution ecosystem for India.”Shilpa Kumar, Managing Director and Head of India, British International Investment, added,
“We are pleased to support Polaris Smart Metering as India strengthens its power distribution network.”
Company background and vision
Polaris Smart Metering, formerly Gram Power, is a cutting-edge energy technology company that works to make electricity smart, cheap, and easy to get. The company is still a big part of improving India’s digital energy infrastructure.
This investment will help Polaris grow its deployment pipeline and make India’s power distribution system even more modern.
Electrify your feed! Click here to join our Whatsapp group and to get the latest updates, expert insights, and innovations driving India’s energy storage revolution.
