According to the agreement, netCOR Solutions will invest in Gaia Smart Cities to support the development of the firm.
Gaia said the acquisition will enable the company to grow rapidly in the IoT market with solutions for both industrial automation and smart cities.
Gaia currently has 24 active customers across India and is currying out pilots with another 10 customers.
Gaia’s cloud-based product portfolio includes smart metering-as-a-service, smart asset tracking-as-a-service, and smart industrial automation as a service. These solutions are already being piloted in different cities.
Also, Gaia’s consulting team is actively engaged in developing smart city plans for seven of the 33 winning cities under the 100 Smart Cities Mission being supported by the government of India.