Hero Electronix buys Zenatix, forays into Internet of Things space

Hero Electronix, the electronics and technology venture of the Hero Group, on Tuesday forayed into the Internet of Things (IoT) space with the acquisition of Gurugram-based Zenatix for an undisclosed amount.

Founded in 2013 by Indian Institutes of Technology (IIT)-Delhi engineers, Zenatix has built its own proprietary IoT stack, which includes hardware, cloud-based software and big-data analytics.

Bullish on the segment, Hero Electronix Founder Director Ujjwal Munjal said the company aims to invest Rs 3-4  billion over the next 3-5 years to expand in the IoT space.  

The company is eyeing revenues of around Rs 10 billion from the vertical in the next