Private equity firm Matrix Partners India today said it has invested Rs 60 crore in Chetas Control Systems, a solution provider to water utilities.
“It has invested Rs 60 crore as the sole investor in the first institutional round of funding of Chetas Control Systems,” Matrix Partners said in a statement.
Chetas is a leading provider of turnkey water metering solutions to water utilities in the country. It has installed about 4 lakh domestic and bulk water meters in the country, it said.
“This capital infusion provides Chetas the growth capital to bid for larger projects and strengthen our leading position in turnkey water metering,” Chetas Managing Director Mahesh Deshmukh said.
Earlier this month, Matrix Partners announced it has invested Rs 50 crore in Maharana Infrastructure and Professional Services, an integrated service provider to educational institutions.
Source: MSN