ThingsCloud plans to solve India’s power crisis with smart solar inverters for homes

#News(Startup) [ via IoTForIndiaGroup ]

ThingsCloud was founded in 2015 by NIT Surat and University of Texas alumnus Amruth Puttappa. After working with energy companies in the US for seven years, Amruth returned to India and started up to solve the energy crisis in the residential market.

He was later joined by Co-founder & CTO, Anusheel Nahar (a University of Wisconsin-Madison grad in electronics and control systems). In 2016, Bengaluru-based ThingsCloud was incubated under NASSCOM’s 10000 Startups initiative. Earlier in 2019, it was recognised as the ‘Emerging IoT Startup of the Year’ by TiE.

[ See IoTDay 2019 where we Awarded ThingsCloud ]

ThingsCloud offers solar inverter solutions for residential energy systems. Its inverters allow residential societies to monitor their energy consumption, conserve 20-30 percent excess energy, and store backup power for utilisation during grid outages – a rather common occurrence in most parts of India.

ThingsCloud claims that its AI-powered solar inverters are 20-30 percent more energy-efficient than regular inverters and can save up to 50 percent in costs required to run a residential energy system. Its inverters understand India’s grid inefficiencies better than foreign machines too.

Its hybrid inverters are currently on sale in Karnataka, Tamil Nadu, and Andhra Pradesh.

ThingsCloud expects its revenue to go up to Rs 14 crore by the end of 2019 as it embarks on a pan-India expansion, starting with the top 14 cities. The startup further claims that it is “sitting on an order book of 35,000,” which it expects to fulfil by 2020. It has also filed for 20 IP patents for its innovative solution.