Gaia Smart Cities, Mumbai based firm working on smart internet solutions, has acquired the I0T (Internet of Things) business of Netcore, another Indian company providing communication systems. The deal was an all-equity one.
Speaking on the development, Sumit D Chowdhury Founder of Gaia stated that Gaia will acquire the IoT business of Netcore and Netcore will further invest in the company. This will give boost to the customers count of Gaia in the longer run.
Founded in 2015 by Bipin Pradeep and Sumit Chowdhury, Gaia works to provide IoT smart solutions based on the household needs. Most of them include access to water and electricity meter etc. It had recently worked with the Delhi government to read the readings on the household water meter. At the same time, Netcore provides communication solutions to business organisations.