Polaris Smart Metering

What Polaris Smart Metering does

Polaris Smart Metering (formerly Gram Power) is an India-headquartered smart metering and Advanced Metering Infrastructure Service Provider (AMISP) founded in 2010 by Yashraj Khaitan. The company designs, manufactures, and operates an end-to-end smart metering stack for state electricity distribution companies (DISCOMs) and city gas distribution companies in India, competing for 10-year concession contracts under the government of India's Revamped Distribution Sector Scheme (RDSS).

Its product portfolio spans single-phase, three-phase, and LTCT smart electric meters (Garud 1.0, Eon 1.0, Prime 1.0), a data concentrator unit (Rajdut 1.0), residential/commercial/industrial smart gas meters (Nebula G1.6/G6/G25), and the Avdhaan software suite integrating Head-End System (HES), Meter Data Management (MDMS), Geographic Information System (GIS), and AI-powered analytics. The company also holds a Wirepas-enabled dual-communication capability that allows meters to switch between mesh and cellular networks without dedicated gateways.

Polaris generates revenue primarily through two streams: (1) AMISP managed services under multi-year concessions with state DISCOMs (UP/MVVNL, WBSEDCL, MSPDCL, SBPDCL, LPDD) covering supply, installation, and 10-year operations and maintenance, and (2) direct hardware sales and supply contracts to city gas distribution companies (Think Gas, Megha Gas). The company is controlled by I Squared Capital following a $150M majority investment in February 2023 and operates through a Singapore parent (Polaris Smart Metering Pte. Ltd.) with Indian operating subsidiaries.

Name

Polaris Smart Metering

Legal name

Polaris Smart Metering Private Limited

Website

https://polarisgrids.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Smart Metering

NAICS

Instrument Manufacturing for Measuring and Testing Electricity and Electrical Signals (334515), Totalizing Fluid Meter and Counting Device Manufacturing (334514), Electric Power Distribution (221122)

SIC

Instruments For Meas & Testing Of Electricity & Elec Signals (3825), Electronic & Other Electrical Equipment (No Computer Equip) (3600), Totalizing Fluid Meters & Counting Devices (3824)

akta.pro primary industry

AMI Smart Meters (Electric) & Meter Hardware (EUADAFAA)

akta.pro secondary industries

AMI/AMR Smart Meter Deployment & Operations (Head-End, Network & MDM) (EUAJACAD), Meter Installation, Exchange & Field Services (EUADAFAF), Revenue Protection, Theft Detection & Meter Analytics (EUADAFAG), Metering & Grid Measurement (Smart Meters, CT/VT, PQ Meters) (IMAGAAAH), Metering Hardware & Field Services (AMI/AMR meters, endpoints, installation, maintenance) (EUANAIAA)

Keywords

• Smart metering solutions
• Advanced metering infrastructure
• Smart electric meters
• Smart gas meters
• Utility management software

Headquarters

HQ city

Jaipur

HQ country

India

HQ region

Asia

Offices8 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Supply Chain, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Smart Meter Hardware Sales: Sale of smart electric meters (Garud 1.0 single-phase, Eon 1.0 three-phase, Prime 1.0 LTCT) and smart gas meters (Nebula G1.6, G6, G25) to utilities and gas distribution companies
2. AMISP Managed Services: 10-year concession contracts as Advanced Metering Infrastructure Service Provider covering supply, commissioning, installation, and maintenance of smart meters under government RDSS scheme
3. Technology Solutions Licensing: Plans to offer proprietary technology solutions including Avdhaan software platform to other smart metering companies domestically and internationally

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels7 records

Core offering

Polaris Smart Metering manufactures and supplies smart electric meters (Garud 1.0, Eon 1.0, Prime 1.0) and smart gas meters (Nebula G1.6, G6, G25), along with a Data Concentrator Unit (Rajdut 1.0). The company operates as an Advanced Metering Infrastructure Service Provider (AMISP) under 10-year concession contracts, deploying, installing, and maintaining these meters for state electricity distribution companies and gas distribution utilities in India. Its Avdhaan AI-powered software suite integrates Head-End System, Meter Data Management, GIS, and analytics modules to deliver end-to-end utility management.

Product overview

Polaris Smart Metering offers a comprehensive smart metering portfolio consisting of hardware products and an AI-powered software platform. The hardware lineup includes four smart electric meter variants (Garud 1.0 single-phase, Eon 1.0 three-phase, Prime 1.0 LTCT, and Rajdut 1.0 data concentrator) and three smart gas meter models (Nebula G1.6 residential, G6 commercial, and G25 industrial). These hardware products are managed through the Avdhaan AI-powered software suite, which integrates Head-End System (HES), Meter Data Management System (MDMS), Geographic Information System (GIS), and analytics modules to provide end-to-end utility management. The company also provides consumer-facing mobile applications for both electric and gas meters.

Differentiator

Problem solved

Functional benefit

Brands

• Polaris Nova: New manufacturing facility in Rajasthan, India, being developed to double annual smart meter production capacity from 5 million to 10 million units by mid-2026.
• Nebula
• Garud 1.0
• Eon 1.0
• Prime 1.0
• Rajdut 1.0
• Avdhaan

Products and services

• Garud 1.0 Single-phase smart electric meter with field-swappable RF/cellular communication, designed for residential electricity metering with smart grid connectivity.
• Eon 1.0 Three-phase 4-wire direct connect smart energy meter with RF mesh or cellular communication for commercial and residential consumers.
• Prime 1.0 Three-phase LTCT (Low Tension Current Transformer) smart energy meter for high-load commercial and industrial applications.
• Rajdut 1.0 Data Concentrator Unit (DCU) with integrated RF and GSM/GPRS communication for aggregating smart meter data and interfacing with the Head End System.
• Nebula G1.6 Residential smart gas meter for domestic natural gas consumption measurement and monitoring.
• Nebula G6 Commercial smart gas meter for small to medium business natural gas consumption measurement.
• Nebula G25 Industrial smart gas meter for large-scale industrial natural gas consumption measurement.
• Avdhaan Software Suite AI-powered integrated software platform comprising Head-End System (HES), Meter Data Management System (MDMS), Geographic Information System (GIS), and Analytics modules for end-to-end utility management by DISCOMs and gas utilities.

Quantifiable outcome

• 84% reduction in distribution losses in Bihar (SBPDCL) project
• +4 more outcomes

Named customers7 records

Segments6 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature4 records

Partnerships

Three partnerships are on record, tiered core and major.

• WirepascoreTechnology or Integration · 1 December 2025Technology partnership for dual-communication solution enabling Polaris smart meters to switch between mesh and cellular networks without dedicated gateways. Deployed across 1 million meters with plans for up to 5 million additional deployments.
• Think Gas DistributionmajorChannel Partner/ Reseller/ Distributor · 1 February 2025First commercial order for 1 million smart prepaid gas meters (Nebula series) with order value over Rs 500 crore. Meters deployed across 49 districts in 10 states.
• Megha GasmajorChannel Partner/ Reseller/ Distributor · 1 January 2025Supply and service agreement for 0.6 million prepaid smart gas meters across 62 districts in 10 states.

Scale indicators12 records

Recent moves8 records

Expansion highlights4 records

Direct peers

• Secure Meters: Established Indian smart meter and energy management solutions provider serving utilities and C&I customers; comparable product portfolio and similar end-market focus on Indian power distribution.
• HPL Electric & Power: Indian manufacturer of energy meters (including smart meters), switchgear, and lighting; competes with Polaris in DISCOM tenders under RDSS and shares exposure to government utility demand.
• Genus Power Infrastructures: Largest Indian AMI and smart meter manufacturer with deep DISCOM relationships and integrated AMISP offerings; most directly comparable competitor in the RDSS opportunity and India's premier domestic AMI peer.

Broad incumbents

• Landis+Gyr: Global leader in smart metering and grid management; competes in India via tenders and global utilities, with broader portfolio and deeper international footprint than Polaris.
• EDMI (Osaki Electric): Asia-Pacific smart metering specialist (owned by Osaki Electric); competes with Polaris in regional tenders and shares strong presence in CGD and electricity utility markets across Asia.
• Larsen & Toubro (Smart World & Energy): Large Indian conglomerate with smart metering and communication network capabilities; competes in AMISP and broader smart-grid projects under RDSS.
• Itron: Global AMI and smart infrastructure major serving utilities worldwide; comparable end-to-end AMI stack and an established competitor in emerging-market deployments.

Emerging players

• Holley Technology: Chinese smart meter manufacturer with growing international and emerging-market presence; comparable hardware-led AMI offering targeting utility customers in developing economies.
• CyanConnode: UK-based smart metering and mesh-network specialist focused on emerging-market utilities; comparable in targeting small/mid-sized DISCOMs and gas distribution with AMI solutions.

Others

• Tata Power Solar / Tata Group Energy Solutions: Adjacent Indian energy major active in distribution and renewable integration; serves as ecosystem participant and indirect competitor in DISCOM modernization and AMI deployments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/PolarisGrids
• Facebookfacebook.com/PolarisSmartMetering

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries4 records

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Polaris Smart Metering