CIMCON Software raises Rs 52 Cr in new funding round led by Niveshaay
The newly raised funds will be used to strengthen CIMCON’s working capital base, provide support for large operations and maintenance contracts, and expand its capacity.
CIMCON Software on Tuesday said it raised Rs 52 crore in a new funding round led by alternative investment fund management firm Niveshaay.
The round also saw participation from Vivek Jain, Managing Director at Action Tesa and GrowthSphere; Saket Agarwal, former Director at Apollo Pipes and Apollo Tricoat; and Ayush Mittal, Co-founder of Screener.in, among others.
CIMCON provides integrated hardware and software solutions for smart water, lighting, and oil and gas infrastructure. The company designs and manufactures its own remote terminal units—electronic devices used in industrial or utility systems that collect data from sensors and send it to a central system—and develops SCADA software to enable data-driven operations.
SCADA, which stands for Supervisory Control and Data Acquisition, is a software used to monitor and control industrial systems remotely.
The company will use the fresh capital to strengthen its working capital base, provide support for large operations and maintenance (O&M) contracts, and expand its capacity in utility automation and digital infrastructure.
The firm also plans to use a portion of the funds to enhance its manufacturing capabilities and scale delivery operations across India and global markets.
CIMCON works with utility firms and EPC partners across India and internationally, offering solutions that combine faster deployment, lifecycle O&M support, and operational efficiency.
The company currently has approvals in over 11 states, and expects to close FY25 with a revenue of around Rs 100 crore and EBITDA margins above 30%.
Niveshaay, which invested in the startup as part of its Niveshaay Sambhav Category II Fund, focuses on small and mid-sized companies across energy transition, manufacturing, defence, technology, and consumer sectors, among others. Its portfolio includes Mokobara, Smallcase, and Innovist, among others.
“CIMCON has built a strong foundation in automation through its RTUs, SCADA systems, and O&M expertise, addressing critical needs in how water utilities and infrastructure operate. This segment forms an essential layer in India’s move toward smarter, data-led systems, and CIMCON is well-positioned to play a significant role in that transformation,” said Arvind Kothari, Founder and Fund Manager, Niveshaay.
Edited by Suman Singh