DATOMS Series A: ₹25 crore for industrial IoT, and what came next

FundingIshaan VardhanOct 15, 20268 min read

Bhubaneswar-based industrial IoT startup DATOMS raised ₹25 crore (about $2.76 million) in a Series A round led by Vietnam’s Big Capital JSC in February 2026, with IvyCap Ventures joining and YourNest Venture Capital investing again. The round valued the company at about ₹110 crore after the money came in. This piece covers what DATOMS does, what the filings showed about its numbers, and what we could and couldn’t confirm about its progress since.

Key takeaways

• DATOMS raised ₹25 crore (about $2.76 million) in a Series A led by Big Capital JSC, announced on 23 February 2026. IvyCap Ventures joined and YourNest invested again.
• Regulatory filings reported by Entrackr put the post-money valuation at about ₹110 crore ($12.18 million) and FY25 operating revenue at ₹5.57 crore, up from ₹3.09 crore.
• Losses also grew, to ₹5.82 crore in FY25 from ₹4.38 crore, so the company still spent more than it earned.
• The startup said it monitors more than 25,000 machines and wants to reach 1 lakh (100,000) within a year. In October 2023 it reported about 5,000 connected machines.
• As of 4 October 2026 we found no newer public funding round or progress update.

The round, in order

The deal first showed up in regulatory filings. On 12 February 2026, Entrackr reported that DATOMS’s board had passed a special resolution to issue 58,349 Series A compulsorily convertible preference shares (CCPS) and two equity shares at ₹4,274 each. (CCPS are preference shares that convert into ordinary equity later, and they’re how most Indian venture rounds are structured.) According to the same report, BIG Global Investments JSC was putting in ₹15 crore, the YourNest Innovative Products VC Fund ₹6 crore and IvyCap Ventures ₹4 crore.

The company announced the round on 23 February 2026. Inc42 and Entrackr both reported ₹25 crore led by Big Capital JSC, with IvyCap Ventures and existing backer YourNest Venture Capital. Indian Startup News described Big Capital JSC as a Vietnam-based investment company. For readers outside India: one crore is 10 million rupees, so ₹25 crore is ₹250 million.

Entrackr put the post-money valuation at about ₹110 crore ($12.18 million). By our arithmetic, ₹25 crore of new money at that valuation works out to about 23% of the company, so the new investors hold a minority stake, not control.

What DATOMS actually sells

DATOMS was founded in 2021 by Amiya Samantaray, Asish Sahoo, Nataraj Sahoo and Amrit Biswal, and it has offices in Bhubaneswar and Bengaluru. Business Today reported in 2023 that the business operates under the company name Phoenix Robotix Pvt Ltd.

The product is a cloud platform for monitoring and managing machines spread across many sites. On its own website, DATOMS pitches itself as an industrial IoT platform for equipment makers (OEMs) and system integrators. The idea is that a company building generators or compressors can ship “smart”, internet-connected versions without building its own software team. The platform has five listed modules: device management, asset management, dashboards and reports, alerts and event management, and site management.

The use cases on the site are mostly heavy, power-hungry equipment that sits in remote places: diesel generators, solar inverters and plants, telecom sites, elevators, HVAC chillers, air compressors, cold storage, fleet fuel management and EV infrastructure. Customer names cited by the company and the press include Tata Steel, ONGC, ABB and Dalmia Bharat Cement (Inc42), and Mahindra Powerol, JSW and GMMCO (DATOMS website). The site also says the company holds a SOC 2 Type II certification, a security audit large enterprise buyers commonly ask for.

DATOMS also runs a partner programme for three kinds of partner: equipment manufacturers, vendors and distributors, and system integrators. That makes it a channel-led business. Much of its reach comes from companies that embed or resell the platform, not from DATOMS selling to every factory itself.

Why equipment makers buy this

A generator or compressor maker that sells thousands of units has little visibility once they leave the factory. Connected monitoring lets the maker see fuel use, running hours and faults remotely. It can then sell service contracts, schedule maintenance before a breakdown, and show buyers data on uptime. DATOMS said the Series A money would go partly into AI-driven predictive maintenance and energy management, according to Entrackr. Predictive maintenance means using machine data to flag a likely failure before it happens.

The numbers behind the round

Because DATOMS is a private company, its financials come from filings with India’s Registrar of Companies, as reported by Entrackr. These are the figures it published:

Scroll the table sideways →

Source: Entrackr, 12 February 2026. India’s financial year runs from April to March, so FY25 ended on 31 March 2025.

By our arithmetic, revenue rose about 80% in a year, while the loss widened by about a third. The company still lost slightly more than it earned in FY25. At the round’s post-money valuation of about ₹110 crore, investors paid roughly 20 times FY25 revenue. That’s a price that assumes growth continues at something like the FY25 pace.

From 5,000 machines to 25,000

The clearest sign of progress is the machine count. When DATOMS raised a $1.2 million (about ₹10 crore) pre-Series A round led by YourNest Venture Capital in October 2023, Inc42 reported that it had connected more than 5,000 machines and served over 100 clients. Business Today said at the time that it was growing 15% a month. Earlier backers named in that round included Ridik Capital and angel investors Mohit Garg (founder of Mindtickle), Saroj Mishra (co-founder of Tazapay) and Prateek Gera, according to Entrackr.

By February 2026, the company said it was monitoring more than 25,000 machines, five times the 2023 figure, and wanted to reach 1 lakh within a year (Entrackr). The customer count it gives, “100+”, hasn’t changed since 2023. That suggests most of the growth came from existing customers connecting more machines, not from many new logos. Usage expanding inside existing accounts is usually a healthy sign for this kind of business.

Inc42 put DATOMS’s total funding before the Series A at more than ₹20 crore, from investors including YourNest, Operators Studio, APT Research, Ridik Capital, Warmup Ventures and BeyondSeed. Reports describe the earlier rounds differently, so we use the figures each outlet published, not a total of our own.

Where the money is going

According to Inc42, DATOMS plans to use the Series A to:

• strengthen its product and technology
• expand into new markets
• hire across engineering, data science, operations and enterprise sales
• build out AI and analytics, including predictive maintenance, performance optimisation and energy management

CEO Amiya Samantaray told Indian Startup News that the funding would help turn industrial assets into “connected, self-aware systems”. The company hasn’t publicly named the new markets. In 2023, it said it planned to expand across India and the Middle East.

The hiring plan matters for job seekers: engineering and data science roles at a Series A IoT company in Bengaluru and Bhubaneswar. For comparable openings, see our engineering jobs in Bengaluru page.

What has happened since February

As of 4 October 2026, we found no further funding round, acquisition or major public announcement from DATOMS after the Series A. We also found no public update on whether it is on track for its 1 lakh machine target, which was due around February 2027. We’ll update this article if the company publishes new figures. FY26 results (April 2025 to March 2026) should eventually appear in regulatory filings, and they’ll be the first independent check on whether revenue kept growing at the FY25 pace.

Why it matters

DATOMS sells plumbing: the software layer that lets equipment makers and industrial operators see their machines. That market grows slowly, deal by deal, and a ₹25 crore round is small by global standards. But the numbers show something a pitch deck can’t: real customers such as steelmakers and cement companies, five times as many machines in about two and a half years, and revenue that nearly doubled in FY25.

The risks are also clear. Losses were still higher than revenue in FY25, and a company that sells mainly through equipment makers depends on those partners winning their own sales. The next filings will show whether the Series A bought efficient growth or just more of the same burn.

For founders, the round shows that non-traditional investors are now active in Indian deeptech. A Vietnam-based firm led this Series A, and Indian funds followed. You can follow more rounds like this on our funding tracker.

FAQ

How much did DATOMS raise in its Series A?

₹25 crore, about $2.76 million, announced on 23 February 2026. Big Capital JSC led the round, and IvyCap Ventures and YourNest Venture Capital took part.

What is DATOMS’s valuation?

Entrackr, citing regulatory filings, reported a post-money valuation of about ₹110 crore ($12.18 million) for the Series A. No later valuation has been published.

Who founded DATOMS?

Amiya Samantaray (CEO), Asish Sahoo, Nataraj Sahoo and Amrit Biswal founded it in 2021. The company is based in Bhubaneswar and also has an office in Bengaluru.

What does DATOMS do?

It runs a cloud platform that connects industrial machines such as generators, compressors and solar equipment, so manufacturers and operators can monitor them remotely, get alerts and plan maintenance.

Is DATOMS profitable?

No. Filings reported by Entrackr show a net loss of ₹5.82 crore in FY25 on operating revenue of ₹5.57 crore.

Sources

1. Entrackr, “Exclusive: Deeptech IoT startup Datoms to raise Rs 25 Cr in Series A”, 12 February 2026. Link
2. Entrackr, “Deeptech IoT startup DATOMS raises Rs 25 Cr in Series A led by Big Capital JSC”, 23 February 2026. Link
3. Inc42, “DATOMS Nets ₹25 Cr To Fuel Expansion Of Its Industrial IoT Platform”, 23 February 2026. Link
4. Indian Startup News, “Industrial IoT platform DATOMS raises Rs 25 crore in funding from Vietnam-based Big Capital JSC”, 23 February 2026. Link
5. Inc42, “Deeptech IoT Startup Datoms Bags Funding To Offer Connected Machines To OEMs”, 26 October 2023. Link
6. Business Today, “Deeptech IoT start up Datoms raises $1.2 million led by YourNest VC”, 26 October 2023. Link
7. Entrackr, “DeepTech IoT startup Datoms raises $1.2 Mn led by Yournest VC”, 26 October 2023. Link
8. DATOMS, “Industrial IoT Platform for OEMs & System Integrators” (company website), accessed 4 October 2026. Link
9. DATOMS, “Partners”, accessed 4 October 2026. Link

Featured image: Bhubaneswar, Odisha, where DATOMS is headquartered. · Photo: Sailesh Patnaik / Wikimedia Commons, CC BY-SA 4.0

How this article was made: researched and drafted with AI assistance by the 100xFounder editorial desk, using only the sources listed in it; every figure links to its source. Read our editorial policy, or report an error through our corrections policy.

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