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Reliance Industries ventures into Internet of Things

  • Reliance Industries Ltd’s
    venture capital arm has signed an agreement with US-based software company
    Ecorithm Inc to bring to India
    a technology that will help collect and exchange data to boost the Internet of
    Things.
  •  
  • GenNext Ventures plans to
    apply Ecorithm’s suite of technologies to building systems and various other

    • Reliance Industries Ltd’s
      venture capital arm has signed an agreement with US-based software company
      Ecorithm Inc to bring to India
      a technology that will help collect and exchange data to boost the Internet of
      Things.
    •  
    • GenNext Ventures plans to
      apply Ecorithm’s suite of technologies to building systems and various other
      enterprises to improve operations, optimize systems and minimize energy use,
      RIL said in a statement.
    •  
    • Ecorithm is a company
      specializing in IoT, which is essentially collection and analysis of data of a
      maze of electronic devices, connected and communicating with each other over
      the Internet.
    •  
    • Reliance Jio Infocomm’s soon-to-be-launched
      4G services promises to provide a platform for seamless connectivity of
      communication devices over high-speed Internet, and act as the base for IoT,
      the statement said.
    •  

    •  
    • The Narendra Modi government,
      too, has stressed the implementation of IoT technologies under its Smart Cities
      Mission, which aims to create 100 smart cities in India over the next five years.
    •  
    • “We believe that smart
      technologies will form the base for the Government of India’s smart city
      initiative. Ecorithm’s technology will be one of those smart technologies,”
      said Vivek Rai Gupta, managing director, GenNext Ventures.
    •  
    • Ecorithm’s True Analytics
      Platform (company’s trademark name) enables any system capable of producing a
      continuous flow of sensor data to be optimized at a highly granular level,
      thereby saving energy, while optimizing performance and the resulting use,
      comfort and operability, the statement said.
    •  
    • “We’re so pleased to partner with
      a company with as many forward-thinking businesses, as it represents a huge
      opportunity to deploy our revolutionary technology in India across
      many business sectors,” said Dan Tishman, chairman of Ecorithm.

     

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