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§ Private Profile · Pune, India
Thingsup is a technology company.
Thingsup provides an integrated Internet of Things (IoT) ecosystem, offering sensors, smart gateways, cloud infrastructure, and advanced analytics tools. Central to its offering is a powerful low-code platform designed for real-time monitoring and automation. This comprehensive suite allows businesses to seamlessly connect physical devices to the cloud, process data, and generate actionable insights through customizable dashboards and alerts, bridging the gap from device output to informed decision-making.
The company was co-founded by Akshay Ghadage, CEO, and Pranav Naiknavare, CTO. Their journey began around 2016-2017, initially developing a fleet management platform that quickly gained traction. Building on this experience, they evolved their core offering to introduce India's first low-code IoT platform in 2020-2021, driven by the insight to simplify and accelerate IoT deployments for diverse industries.
Thingsup serves a broad clientele, including OEMs, fleet operators, and enterprises across critical sectors like Electric Vehicles, Cold Chain Logistics, Energy Management, and Industrial IoT. The platform enables real-time asset tracking, predictive maintenance, and optimized operations for these clients. Their long-term vision is to establish themselves as the foundational infrastructure layer for global IoT, delivering enterprise-grade intelligence across a wide spectrum of connected environments.
Thingsup has raised $700K across 2 funding rounds.
Thingsup has raised $700K in total across 2 funding rounds.
Thingsup has raised $700K across 2 funding rounds. Most recently, it raised $600K Seed in December 2022.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Dec 1, 2022 | $600K Seed | GSF Accelerator, Lead Angels, Abishek Balendran, Udyat Ventures | AME Cloud Ventures, Andreessen Horowitz, General Catalyst, Hardware Club, Gokul Rajaram, Pras Hanuma | Announced |
| May 1, 2021 | $100K Seed | — | AME Cloud Ventures, Andreessen Horowitz, General Catalyst, GSF Accelerator, Hardware Club, M12, Gokul Rajaram, Pras Hanuma | Announced |
Thingsup is an enterprise-grade IoT platform that enables secure connection, management, and analysis of IoT devices and data via a low-code environment, rules engine, and customizable dashboards.[1][2][4] It serves industries like mobility, supply chain, logistics, manufacturing, and energy, solving challenges in real-time monitoring, device management, and operational efficiency for use cases such as electric vehicle tracking, cold chain monitoring, and fuel analytics.[1][2][4] With over $700K in total funding (including a seed round in December 2022) and revenue exceeding ₹5.1 Cr in FY23, the company demonstrates solid growth momentum from its Pune, India base, employing around 42 people.[3][5]
Thingsup, operating as Iobot Technologies India Private Limited, was founded in 2016 in Pune, India, initially focusing on IoT solutions for device management and data analysis.[2][5] Sources vary slightly on exact founding (some cite 2020), but 2016 aligns with its early startup profile and evolution into a scalable platform.[3][5] The idea emerged to address deployment hassles in connecting devices and apps, enabling businesses to build IoT solutions rapidly without heavy custom development.[1][3] Early traction came through pre-built templates for sectors like energy and logistics, culminating in seed funding of $706.78K+ by December 2022, which fueled platform enhancements and industry expansions.[5]
Thingsup rides the IoT and Industry 4.0 wave, capitalizing on digital transformation demands in emerging markets like India, where real-time asset tracking addresses logistics inefficiencies amid e-commerce and EV growth.[1][4][5] Timing is ideal with rising adoption of connected devices in supply chains and manufacturing, fueled by post-pandemic supply disruptions and sustainability pushes for energy/fuel optimization.[2][4] Market forces like AIoT integration and regulatory compliance (e.g., GDPR) favor its secure, low-code model over fragmented competitors like Spaceport or DT4o.[2] It influences the ecosystem by accelerating IoT deployment for SMEs and enterprises, lowering barriers to data-driven operations and enabling faster innovation in high-growth sectors.[1][5]
Thingsup is poised for expansion by deepening EV and logistics integrations, leveraging its low-code edge to capture more of the $13B+ global industrial IoT market amid AI-enhanced analytics trends.[1][2] Upcoming trends like edge computing and 5G will amplify its real-time monitoring strengths, potentially driving further funding and global partnerships. Its influence may evolve from regional player to key enabler in sustainable operations, building on current momentum to scale revenue and user base.[4][5] This positions Thingsup as a nimble force in IoT's maturing landscape, much like its platform streamlines device chaos into actionable efficiency.
Thingsup has raised $700K in total across 2 funding rounds.
Thingsup's investors include GSF Accelerator, Lead Angels, Abishek Balendran, Udyat Ventures, AME Cloud Ventures, Andreessen Horowitz, General Catalyst, Hardware Club, Gokul Rajaram, Pras Hanuma, M12.