Titan invests in IoT start-up CoveIoT

Titan invests in IoT start-up CoveIoT

Posted by M.Venkatesh on November 9th 2017

Titan Company Limited, which is a  part of the Tata Group, has invested $3-5 million in a wearable tech internet of things ( IoT) startup CoveIoT.

The investment deal would be the first its kind by a strategic investor in the IoT space. Cove is the registered brand name of the start-up KaHa which is based in Singapore and also has offices in Bengaluru. As reported in the Economic Times earlier, the funds are going to be deployed towards product development, as well as research, analytics and so on.

Founded in 2015 by Pawan Gandhi, Sudheendra Shantaram and Justin Tang, KaHa is a smart wearable technology company that provides an end to end IoT platform for brands to launch smart wearable products. The startup is focusing on a wide range of sectors within security, from targeting women centric security issues to daily convenience items such as GPS tracking, digital payments through wearable technology and monitoring devices for health and wellness. Sources claim CoveIoT’s security and monitoring features can accurately track the location of an individual wearing the device.
Most recently, the startup has launched PRiSM brand of classic smart watches at Hongkong Watch Fair, in September this year followed by launch of fitness tracking device in October. 
The Ministry of Electronics and Information Technology (Meity) has added smartwatches, along with CCTV cameras and recorders, iris scanners, and optical fingerprint scanners among 13 new electronic products to the Electronics and Information Technology Goods (Requirement for Compulsory Registration) Order, 2012, making it compulsory for manufacturers of these products to meet standards as stipulated by the Indian government, and companies will also not be allowed to import any non-compliant product for sale in the country. This will come into effect from February 2018. The standard that is required to be followed in case of smartwatches and CCTV cameras are covered by the Information Technology Equipment – Safety General Requirements.






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