How iRasus Technologies is decoding battery data for businesses
Gurugram-based energy analytics startup iRasus has created technology to seamlessly analyse battery data to generate predictive insights across multiple industries.
When BITS Pilani alumni Arjun Sinha Roy and Anirudh Ramesh began observing the climatetech industry, they realised that the real business potential resided at the heart of a clean machine: its battery.
“You need a battery to transition energy from non-renewable sources to clean ones. And it was clear that the electric vehicle (EV) industry was going to be one of its biggest users," says Roy.
In 2018, the duo co-founded iRasus Technologies, an energy analytics startup that builds software to monitor battery health, track performance, and optimise energy usage for businesses.
“If we can understand batteries, analyse the data, understand energy profiles, and then use that data to address problems for businesses, a big problem will be solved. That is why we got into this industry,” Roy tells YourStory.
The team currently works out of a co-working space in Gurugram with 14 employees. “We have one person working out of Bengaluru and plan to expand into that city by the end of 2025 by hiring at least 10 more people,” adds Roy.
A platform to analyse data for battery users
Having spent 16 odd years working in the telecom industry, Roy has seen how day-to-day business operations rely on data analytics.
So, he wanted to build a platform that would do the same in the cleantech space. This led to the formation of the startup’s flagship product, Preksha, an AI-enabled SaaS platform that extracts and analyses data from batteries and provides insights to businesses in real-time.
The data is first extracted through the company’s hardware (usually a 4G telematics device), which is deployed either inside the battery or at the On-Board Diagnostics port of the EV.
“As the data is collected, it simultaneously gets decoded in Preksha, which then generates predictive insights for the user. With further analysis, we produce charts and dashboards for both an aggregate level view and an individual asset level view,” he explains.
One of the areas that iRasus focuses on heavily is fault management. Every battery system sends out native fault codes, which Preksha keeps detecting. The software then looks at the trends and decides whether the faults are critical or non-critical, based on which the business can make decisions.
“Our technology has also now reached a stage where it can predict certain events that might occur. So, if a particular fault keeps occurring and temperature elevation is also detected, we will look at the input parameters and understand if it is coming from the electrical system or the cooling system. Those insights are valuable as they lead to vital business decisions,” he says.
The B2B startup is working on further evolving its technology so it can reach a point where third-party applications can also be integrated, which would make the entire service cheaper for its clients. “It would help those businesses reduce cost and increase revenue,” adds Roy.
A pan-industry approach
In the EV space, iRasus works with two (or three) wheelers and buses on the same fundamentals. However, the difference lies in the monetary segment. While the startup has adopted standard market subscription models for two and three wheelers, there are additional charges for product integration in buses.
“The hardware is priced anywhere between Rs 2,000 and Rs 25,000, depending on the scale and capacity of the deployment. The larger the vehicle, the higher the price. The yearly subscription fee can also vary from Rs 1,000 to about Rs 10,000," says Roy, adding that the pricing might change in the future.
The company has about 10 clients right now, including Veera Vahana for its electric buses and HCD India for electric two-wheelers. “We are currently conducting about 20 pilots. We want to have around 25 clients by the end of this year,” he says.
Due to a battery’s versatility in usage, iRasus doesn’t want to limit itself to the EV sector. It is looking to work with various industries, such as Engineering, Procurement, and Construction (EPC) companies that are looking for diesel replacement, and with data centers that are transitioning from using fossil fuels to using batteries to manage their infrastructure.
It is also looking at working with drone companies, as heavier drones would require heavier batteries, which would need real-time monitoring. The startup has already received initial enquiries for defence projects.
“The expertise that we have built in understanding batteries in the EV space will help us to build the domain expertise required to make sure that the transition to battery energy and battery storage is seamless, safe, and affordable for these other industries as well,” says Roy.
Funding and growth
Roy believes as a battery is a very versatile product, the potential for business growth in this sector is also limitless. “More and more companies will move away from using fossil fuels and inevitably adopt a battery system. As that can only happen on the strength of battery storage. Whenever a business takes battery storage, they will all need a management platform for that asset. That’s where we come in,” he says.
iRasus Technologies raised Rs 4 crore in seed funding in 2024, co-led by Rohit Rajput and Srikar Reddy of Indian Angel Network. It is planning to raise an undisclosed amount in another round this October.
Rajput says, iRasus stood out to them. "They are working on one of the biggest problems in India's EV journey. What stood out to us was how well they could combine sophisticated tech with real-world applications,” he tells YourStory.
The startup is putting most of the funding into R&D. “We are one of the few companies heavily investing in understanding battery faults. Our fault management system will be part of the next version of our product that will be released in September,” says Roy.
While the startup’s competitors include Bengaluru-based Intellicar and Arlington-based Fluence, Roy believes iRasus stands apart due to its deep understanding of battery intelligence and its pan-industry approach.
“We believe this will be great for business. It’s already working. Last year, our revenue was about Rs 70 lakh. This year, as we onboard more clients, we are targeting the Rs 4 crore mark. We have a different approach than most, and I think we stand alone in it,” he says.