NEW YORK–(BUSINESS WIRE)–Smartron (www.smartron.com), an INDIA and US based global technology AIOT and EV OEM brand (the “Company”), is pleased to announce that it has signed an agreement (“Agreement”) with the Global Emerging Markets Group (“GEM”), an alternative investment group with operations in Paris, New York, and the Bahamas. Under the agreement, GEM will provide a Share Subscription Facility of up to $200 million, to be drawn at the option of the Company.
Over the last 5+ years, Smartron has developed a big HW portfolio from smartphones to laptops to wearables to smart home hub to smart things to ebikes to battery packs to IoT modules, all powered by tronX, its own AIOT SW platform built on deep technologies such as 5G, AI/ML, IoT, Robotics and Web3. The Company has been launching many products powered by tronX platform across Personal (Mobile), Smart Home, Smart Infra, EV, and Energy markets.
This up to $200M investment announcement between Smartron and GEM will help support the Company’s future growth and potential public listing plans. Over the next 3-5 years, Smartron will be focused on driving growth by targeting primarily Smart Home, Smart Infra, EV, and Energy verticals powered by tronX platform, manufactured by tworks, and cared by tlife. The tronX platform is also being offered as a B2B service to Companies that are targeting various AIoT applications. Smartron is uniquely positioned to benefit from huge opportunities across the INDO-US corridor thanks to the ongoing global supply chain challenges and (re)alignments.
About GEM
Global Emerging Markets (“GEM”) is a $3.4 billion alternative investment group that manages a diverse set of investment vehicles focused on emerging markets across the world and have completed over 500 transactions in 70 countries. GEM’s investment vehicles provide the group and its investors with a diversified portfolio of asset classes that span the global private investing spectrum. Its family of funds and investment vehicles provide GEM and its partners with exposure to Small-Mid Cap Management Buyouts, Private Investments in Public Equities (PIPEs) and select venture investments. GEM’s funds include the CITIC-GEM Fund (matured in December 2015), Kinderhook Industries (GP and LP non-voting stakes), GEM Global Yield LLC SCS, GEM India and VC Bank/GEM Mena Fund (GEM exited both its GP and LP stakes in these funds in 2015 and 2010, respectively).
About Smartron
Smartron (www.smartron.com) was founded with a vision to build INDIA and US based and focused global technology AIOT and EV brand offering intelligent products, solutions, services, and support for smart home, smart infra, EV and Energy markets powered by tronX, its own AIOT platform and a wide range of HW devices.
NEW YORK–(BUSINESS WIRE)–Smartron Funding Announcement