KARACHI: Jaffer Business Systems (JBS) has acquired significant share of Energy N Automation (ENA), a Green Tech, Power and IoT startup by investing Rs300 million.
The investment agreement was signed between JBS and ENA in an online ceremony, while adhering to Government’s Covid-19 SOPs. JBS is amongst the leaders in the Information Technology industry in Pakistan. Over the years, JBS has been successfully providing innovative, unique, and cost-effective solutions to businesses.
After acquiring significant share of Blutech 4 years ago, ENA is the second startup to become part of JBS. ENA is a startup, founded in 2016, that provides Internet-of-Things (IoT) and power solutions to businesses focusing on the financial sector. ENA’s mission is to connect the world through IoT and contribute to a greener world by reducing carbon footprint and fuel consumption, thus redefining power, and connectivity. Our vision for 2024 is to connect to 25,000 IoT devices leading to energy savings up to 32,500MW, also install 10,000 supercapacitor modules and reduce 105 million litres of fuel consumption, reduction of 300,000 tonnes CO2 emissions: work of 14 million trees.
On this occasion of signing ceremony, Syed Veqar Ul Islam, CEO, Jaffer Business Systems (Pvt) Limited, said that Against common belief, it is observed that only 16 percent startups fail due to lack of access to finance. “Our model of investment, while promoting entrepreneurship, provides for the structure and platform, which is essential to the success of a new setup. Our role is to work with startups in a manner that we mitigate the risks of failure and provide them with the structure, governance, and support, which helps them to scale, innovate and be successful,” he added.
Amir Salman, CEO of ENA, said that with a vision to power and connect the business world ENA aim to enable the world with the latest hybrid technologies that save fuel, reduce operational costs, and significantly contribute towards a green environment.
“As we move into the future, our IoT used cases will develop connectivity that helps reduce power consumption and provides for a better control of electricity bills and saves against misuse. JBS provides us with the right platform and brand image, which will significantly help us exceed our goals for scale, excellence, and innovation”, he added.
It may be mentioned here that JBS strategy is to make material impact on the entrepreneurial ecosystem of the country, by enabling and helping structure startups for success. JBS plans to further invest in at least 8-10 more startups that are offering innovative products and solutions to create an impact on the lives of people, businesses, and communities in the areas it operates in. From JBS’s dynamic platform, ENA will scale and innovate further with excellence.
Being one of the leading IT companies, JBS is constantly striving to improve and strengthen the entrepreneurial ecosystem by supporting and assisting new startups and budding entrepreneurs of Pakistan.
Copyright Business Recorder, 2021