Gram Power

About Gram Power

Polaris, formerly known as Gram Power, operates as an energy technology company with a focus on smart grid and metering solutions. The company was founded in 2010 by Yashraj Khaitan and Jacob Dickinson, both engineering graduates from the University of California, Berkeley. Khaitan, the current CEO, comes from an enterprising family and turned down a job at Ericsson to establish the company, driven by his experiences in rural India.

Initially, the company concentrated on rural electrification, deploying solar-powered smart microgrids in remote Indian villages to provide reliable, on-demand power. A significant milestone was the establishment of India's first solar-powered smart microgrid in a Rajasthan hamlet in March 2012. In 2016, the business pivoted to concentrate on smart metering technology and power distribution management for the national grid, addressing the significant issue of power theft and distribution losses. The company's technology was recognized by NASA in 2011 as one of the top 10 cleantech innovations globally.

Polaris's business model is centered on providing an integrated smart metering platform as a service. This includes in-house developed smart meters, communication infrastructure using proprietary RF Mesh technology, and a comprehensive software suite called Avdhaan for data management and analytics. This allows clients, primarily power distribution companies (Discoms) and state electricity boards, to digitize their infrastructure, automate billing, and manage their grids more efficiently. Revenue is generated through large-scale contracts, often structured as Design-Build-Finance-Operate-Own-Transfer (DBFOOT) agreements, where Polaris supplies, installs, and maintains the meters for a multi-year period. They also serve clients like co-living and PG operators.

The core product is a complete smart metering solution designed to reduce energy losses. Its smart meters enable prepaid billing, remote power control, and automatic readings. For end-users, the system offers transparency through a mobile application, allowing them to monitor consumption, manage budgets with alerts, and make payments similar to mobile recharges. A key feature is the system's ability to detect tampering and wirelessly monitor the grid for abnormalities, significantly curbing electricity theft. In February 2023, the company, rebranded as Polaris, secured $100 million in funding from I Squared Capital to finance large smart metering contracts across India.