Polaris, a homegrown integrated smart metering and digital energy infrastructure company, said it has secured financing of Rs 710 crore (approximately $80 million) from British International Investment (BII), the UK’s development finance institution and impact investor, for its subsidiary Hooghly Smart Metering Private Limited. The financing will support the deployment of over 2.2 million smart meters in West Bengal, further strengthening Polaris’ Advanced Metering Infrastructure (AMI) footprint and contributing to India’s broader energy transition agenda.
Polaris said it delivers end-to-end AMI capabilities across meter manufacturing, deployment, communications infrastructure, and software platforms. With a growing footprint across multiple states, Polaris is focused on modernising India’s electricity distribution ecosystem.
Commenting on the development, Yashraj Khaitan, Founder & CEO, Polaris, said, “This financing marks an important milestone in Polaris’ journey to help build a smarter, more transparent, and future-ready power distribution ecosystem for India. It will strengthen our AMI deployment in West Bengal and further reinforce our commitment to investing in technology, execution capability, and manufacturing scale. At Polaris, our ambition goes beyond meter installation — we are focused on enabling a more efficient, accountable, and financially resilient grid that can support India’s renewable energy ambitions and long-term energy transition.”
Shilpa Kumar, Managing Director and Head of India, British International Investment, said, “We are pleased to support Polaris Smart Metering as India strengthens its power distribution network. Smart meters play a crucial role in reducing losses, improving reliability and enabling better integration of renewable energy. This investment reflects our continued commitment to India’s green and energy efficient future.”
About Polaris Smart Metering
Polaris Smart Metering has been founded by Yashraj Khaitan. Polaris Smart Metering, formerly Gram Power, is an Indian energy technology company providing end-to-end advanced metering infrastructure (AMI), including meter manufacturing, deployment, and software.