Polaris Grids
Polaris Smart Metering Private Limited, trading as Polaris Grids and formerly known as Gram Power, is a private Indian energy technology company headquartered in Jaipur, Rajasthan[1] The company is a portfolio entity of the global infrastructure fund I Squared Capital.[2] It was founded in 2010 at the University of California, Berkeley, by Yashraj Khaitan, who developed its foundational technology as part of his graduate research into electricity access and smart grid systems.[3]
Polaris Grids operates in the advanced metering infrastructure (AMI) sector,[4] designing, manufacturing, and deploying smart electricity meters, smart gas meters, and the proprietary AMI software platform Avdhaan.[5] The company is among the first entities appointed as an Advanced Metering Infrastructure Service Provider (AMISP)[6] under the Rural Electrification Corporation (REC)[7] framework, with active deployments across multiple Indian states, including Bihar,[8][9] Uttar Pradesh,[9][10] Ladakh,[9][11] Manipur,[9][10] and West Bengal.[9][12] In its early years under the Gram Power name, the company's work in clean energy access was recognised by NASA, which selected it among its top 10 Cleantech Innovations.[13][14][3]
The company's commercial focus is on India's national smart metering rollout, a programme driven by the Ministry of Power's Revamped Distribution Sector Scheme (RDSS),[15][16][2] which targets the replacement of conventional electricity meters with prepaid smart meters across the country. Through its AMISP appointments, Polaris Grids is responsible for end-to-end meter deployment, communication infrastructure, and data management for millions of consumers under long-term concession agreements with state distribution companies (DISCOMs).[17]
Infobox
Polaris Grids: Info Box
| Legal name | Polaris Smart Metering Private Limited |
| Formerly | Gram Power (India) Private Limited |
| Company Type | Private |
| Industry | Energy technology · Advanced Metering Infrastructure (AMI) |
| Founded | 2010; University of California, Berkeley |
| Founders | Yashraj Khaitan |
| Headquarters | Jaipur, Rajasthan, India |
| Key people | Rajeev Sharma (Chairman),[6] Kishore Khaitan (Director), Yashraj Khaitan (Founder and CEO),[18] Ashish Agarwal (Director), Varun Unnikrishnan (Director)[16] |
| Products | Smart electricity meters, smart gas meters,[11] Avdhaan (AMI software), Consumer app |
| Operations | Bihar, Uttar Pradesh, Ladakh, Manipur, West Bengal, Rajasthan, Kerala, Karnataka, Odisha, Andhra Pradesh, Punjab, Tamil Nadu, Telangana, Maharashtra, Madhya Pradesh, Himachal Pradesh |
| Other offices | Gurugram; multiple Indian cities |
| Website | https://www.polarisgrids.com/ |
| Other Companies | Polaris operated in its markets through various wholly-owned subsidiaries including:
Gomati Smart Metering Pvt. Ltd. Saryu Smart Metering Pvt. Ltd Hooghly Smart Metering Pvt. Ltd. Sangai Smart Metering Pvt. Ltd. |
History
Founding and Origins (2010–2012)
Gram Power was founded in 2010 at the University of California, Berkeley, by Yashraj Khaitan[3] a graduate of the EECS department. The concept grew from Khaitan's fieldwork in rural Rajasthan, where communities lacked reliable electricity access. In 2011, Gram Power won first place in the Energy Efficient Technologies category at Big Ideas @ Berkeley, receiving seed funding from the Arthur H. Rosenfeld Fund for Global Sustainable Development and the UC Berkeley Blum Center for Developing Economies.[19] Later that year, the company was selected as one of ten innovations at the LAUNCH: Energy Forum — a joint initiative of NASA, USAID, the U.S. Department of State, and Nike — chosen from over 200 submissions, which provided its first angel funding.[13]
In March 2012, Gram Power commissioned India's first solar-powered smart microgrid in the village of Khareda Lakshmipura, Rajasthan, approximately 130 kilometres south of Jaipur.[1] The system combined a centralised solar array, battery storage, and wireless monitoring for energy theft detection.
Early Growth and Commercial Operations (2012–2018)
Following the Khareda Lakshmipura microgrid, Gram Power expanded its solar-powered smart microgrid solution to approximately 30 remote communities in Rajasthan, providing prepaid electricity to villages outside the reach of the national grid.[3] In 2014, the company received a grant of USD 999,961 from USAID under the agency's Development Innovation Ventures (DIV) programme, to evaluate the developmental impact of microgrid-based electrification and to scale installations across unelectrified villages in the state. The project, conducted in partnership with UC Berkeley, aimed to install microgrids in up to 40 villages; in practice, a total of 55 kWp capacity was deployed across 10 villages, with site recruitment proving difficult due to the absence of a government-published list of villages ineligible for grid extension.[20]
During the course of the USAID project, Gram Power piloted its smart metering technology on the national grid with a utility in Bihar, where it reduced distribution losses in pilot areas from 80% to 8% within three months and improved power availability approximately twofold.[20] This outcome informed a strategic pivot in 2016, when the company shifted its primary focus from off-grid microgrids to smart metering and power distribution management for grid-connected utilities.
Grid-scale expansion (2018–2023)
Following its strategic pivot to grid-connected smart metering, Gram Power secured its first utility-scale AMISP appointment in 2018, when it was appointed by SBPDCL (South Bihar Power Distribution Company Limited) to implement advanced metering infrastructure across South Bihar — one of the earlier such appointments made under India's emerging national smart metering framework.[8]
In 2022, the company was awarded a 10-year AMISP contract by the Ladakh Power Development Department (LPDD) through the Rural Electrification Corporation (REC), covering smart metering and power distribution management across the union territories of Ladakh and Kargil. Both the Bihar and Ladakh appointments were secured while the company was still operating under the Gram Power name, before its 2023 rebranding.
Recent developments (2023–present)
Following the 2023 rebranding, Polaris Grids secured AMISP appointments across five Indian states. The company was appointed by SBPDCL (South Bihar Power Distribution Company) for South Bihar; by MVVNL (Madhyanchal Vidyut Vitran Nigam Limited) for the Gomati and Saryu regions of Uttar Pradesh[21][22]; under a 10-year REC contract covering Ladakh and Kargil; by MSPDCL (Manipur State Power Distribution Company) for the Sangai region; and by WBSEDCL (West Bengal State Electricity Distribution Company) for the Hooghly district.[23]
In 2023, MVVNL awarded Polaris contracts to install over 5.1 million smart meters across the Lucknow and Ayodhya/Devipatan clusters in Uttar Pradesh — valued at approximately ₹5,200 crore — under a 10-year Design-Build-Finance-Operate-Own-Transfer (DBFOOT) agreement. In the year 2024, concurrent letters of award from West Bengal and Manipur added a further 2.3 million meters worth over ₹2,400 crore.[24]
In early 2025, Polaris signed a contract with THINK Gas to supply 1 million smart gas meters — reported as India's largest gas meter supply deal at the time, valued at over ₹500 crore — along with HES and Meter Data Management System (MDMS) support.[25] A further agreement was signed with Megha Gas for 600,000 prepaid smart gas meters across 62 districts in ten states, with Meter Data Management System support.[26][27]
In December 2025, founder and CEO Yashraj Khaitan indicated that the company — which at that point held approximately 10% market share in India's smart metering sector — was exploring a public listing in India and international expansion, contingent on the decision of majority shareholder I Squared Capital.[28]
In February 2026, Polaris achieved manufacturing and deployment of over 1 million smart meters under the RDSS programme, marking the milestone with a ceremony at its Jaipur facility attended by senior government officials, including Ajitabh Sharma, IAS, Additional Chief Secretary (Energy), Government of Rajasthan.[6][22][29][30]
In May 2026, Polaris secured $80 million in financing from British International Investment (BII), the UK's development finance institution, to support the deployment of over 2.2 million smart meters in West Bengal through Hooghly Smart Metering Private Limited.[31][32]
Products and Technology
Smart Meters
Polaris Grids manufactures a range of smart electricity meters under the product names Garud (single-phase), Eon (three-phase direct connect), and Prime (three-phase LTCT for high-load commercial and industrial use), all supporting prepaid and postpaid billing modes and field-swappable RF/cellular communication. The company's smart gas meter range, marketed under the name Nebula, uses diaphragm metering technology with IoT-enabled electronics for prepaid billing and remote tamper detection, and is designed for city gas distribution companies.[25][26]
Software Suite
The company develops and operates Avdhaan, a proprietary AMI software platform built in-house, covering meter data management, billing, analytics, GIS mapping, and field operations. The platform can be deployed as an integrated suite or as individual modules.[33]
The company serves government utilities under AMISP contracts, city gas distributors, and private sector clients, including real estate developers and co-living operators.[6][34][35]
Major Projects
| Project | Year | Client | Region | Scale |
| First solar smart microgrid | 2012 | Community | Khareda Lakshmipura, Rajasthan | Pilot |
| SBPDCL AMISP deployment[8] | 2018–ongoing | South Bihar Power Distribution Corp. | Bihar | Large-scale AMI |
| MVVNL deployment (Gomati and Saryu)[36][37] | 2023–ongoing | MVVNL | Uttar Pradesh | 5.1 million meters |
| Ladakh & Kargil smart metering[11][38][39] | 2022–ongoing | REC | Ladakh UT, Kargil | 10-year contract |
| Manipur (Sangai region)[40] | 2024–ongoing | MSPDCL | Manipur | — |
| West Bengal (Hooghly)[41][42] | 2024–ongoing | WBSEDCL | West Bengal | 2.2 million meters |
Partnerships and Investors
In February 2023, I Squared Capital — a global infrastructure investment fund managing over $36 billion in assets — acquired a controlling stake in Polaris through its ISQ Growth Markets Infrastructure Fund, committing $100 million to support the company's expansion into large-scale national grid AMI contracts.[28][43][44][45]
In May 2026, British International Investment (BII), the UK government's development finance institution, provided ₹710 crore (approximately $80 million) in financing to Polaris' wholly-owned subsidiary Hooghly Smart Metering Private Limited for the deployment of 2.2 million smart meters in West Bengal.[46][47]
Awards and Recognition
In 2011, Gram Power won first place in the Energy Efficient Technologies category at Big Ideas @ Berkeley, an annual student competition administered by the UC Berkeley Blum Center for Developing Economies. The competition that year drew more than 200 entries, with over 50 teams sharing $265,000 in prizes; Gram Power was among the winners described by the university as developing "a novel microgrid system to deliver ultra-affordable electricity access in developing economies."[13][19]
Later in 2011, Gram Power was selected by NASA from ten clean-technology start-ups worldwide for recognition at the LAUNCH: Energy Forum, a challenge co-organised by NASA, USAID, the U.S. Department of State, and Nike. Berkeley Engineering reported that the selection "put them on the radar of USAID and angel funders."[3][13]
In 2012, Gram Power was selected as a Climate Solver by WWF-India, under the Energy Access theme, as part of the WWF's global initiative to identify and support innovative low-carbon technologies developed by small and medium enterprises. WWF-India lists Gram Power's Smart Microgrid as among its 2012 Climate Solver awardees.[48]
In a 2013 column for The New York Times titled "When E.T. and I.T. Meet ID", foreign affairs correspondent Thomas L. Friedman cited Gram Power as his chosen example of energy technology innovation in India, describing the company's smart microgrid system and its co-founder's vision for rural electrification.[32]
Founder and CEO Yashraj Khaitan was named to the Forbes 30 Under 30 Asia list in the Rising Leaders category in 2019, while leading Gram Power.[49] He was also recognised with the Global Indian Award presented by Prime Minister Narendra Modi, an honour covered by Times Now; the award is referenced in Gram Power's 2016 USAID Final Report alongside the WWF recognition as evidence of the company's international profile.[20][50]
References
- ↑ "Polaris Smart Metering gets Rs 5,200 crore smart meter project in Uttar Pradesh". The Economic Times. 2024-01-29. ISSN 0013-0389. Retrieved 2026-05-25.
- ↑ 2.0 2.1 Dev, S. S. (2025-12-22). "India's Smart Electricity Metering Expands At Scale As Polaris And Wirepas Deploy Dual-Communication Solution". SolarQuarter. Retrieved 2026-05-25.
- ↑ 3.0 3.1 3.2 3.3 3.4 "Prepaid power". Berkeley Engineering. Retrieved 2026-05-25.
- ↑ "India's smart metering sector sees boost". https://www.awazthevoice.in. Retrieved 2026-05-25. External link in
|website=(help) - ↑ "Polaris - Avdhaan Dashboard". avdhaan.lpdd.polarisgrids.com. Retrieved 2026-05-25.
- ↑ 6.0 6.1 6.2 6.3 India, Energética (2026-02-11). "Polaris Smart Metering Crosses one Million Smart Meters Under RDSS, Expands Capacity to 10 Million Units Annually - Asia Pacific | Energetica India Magazine". Energetica India Magazine, India Energy News, Renewable Energy News, Conventional Power Generation, Companies Guide... Retrieved 2026-05-25.
- ↑ "Global funds, Adani, GMR, others in race for NIIF's smart meter business - The Economic Times". m.economictimes.com. Retrieved 2026-05-25.
- ↑ 8.0 8.1 8.2 Pillai, Venugopal (2025-03-28). "Bihar leads in smart meter installations". Your Gateway to Power Transmission & Distribution. Retrieved 2026-05-25.
- ↑ 9.0 9.1 9.2 9.3 9.4 India, Energética (2024-05-08). "Polaris Gets Contract of INR 2,246 Crores to Install 2.2 Mn Smart Meters in West Bengal - Asia Pacific | Energetica India Magazine". Energetica India Magazine, India Energy News, Renewable Energy News, Conventional Power Generation, Companies Guide... Retrieved 2026-05-25.
- ↑ 10.0 10.1 "Wirepas brings its RF Mesh to Europe's Grids after success in India". wirepas.com. Retrieved 2026-05-25.
- ↑ 11.0 11.1 11.2 www.ETEnergyworld.com. "Polaris Smart Metering to rollout 10 mn smart electricity meters in India to modernise power distribution". ETEnergyworld.com. Retrieved 2026-05-25.
- ↑ www.ETEnergyworld.com. "Polaris Smart Metering secures ₹710 crore finance from BII for West Bengal rollout". ETEnergyworld.com. Retrieved 2026-05-25.
- ↑ 13.0 13.1 13.2 13.3 "TriplePundit • NASA Energy Forum Announces Top Ten Energy Innovations". triplepundit.com. Retrieved 2026-05-25.
- ↑ "Energy Conservation Day: 10 innovative start-ups that are making a difference". The Week. Retrieved 2026-05-25.
- ↑ admin (2026-02-12). "Polaris Smart Metering deploys over 1 million smart meters under RDSS". Power Line Magazine. Retrieved 2026-05-25.
- ↑ 16.0 16.1 India, T&D (2026-02-10). "Polaris Smart Metering crosses 1-million smart meters milestone". Your Gateway to Power Transmission & Distribution. Retrieved 2026-05-25.
- ↑ https://dumindia.in/images/2026/DUMBrochureLS.pdf 18
- ↑ "Yashraj Khaitan, founder and CEO, Gram Power: To survive as species, we need environment and not the other way around". The Times of India. 2022-06-05. ISSN 0971-8257. Retrieved 2026-05-25.
- ↑ 19.0 19.1 blum (2013-03-22). "Gram Power". Blum Center. Retrieved 2026-05-25.
- ↑ 20.0 20.1 20.2 https://clausen.berkeley.edu/wp-content/uploads/assets/clausen_open_pages/3/Final_Report_-_Gram_Power-2.pdf 22
- ↑ PTI News (2025-12-18). Smart Meter Revolution in UP | Transparent, Reliable & Digital Power under CM Yogi Adityanath. Retrieved 2026-05-25 – via YouTube.
- ↑ 22.0 22.1 admin (2026-02-11). "Polaris Smart Metering crosses 1 million smart meters milestone, advancing India's RDSS-led power distribution reform | Odisha Business News Weekly". Odisha Business News. Retrieved 2026-05-25.
- ↑ "Polaris Secures $80 Mn From BII For Smart Meter Deployment In India". BW Businessworld. Retrieved 2026-05-25.
- ↑ https://www.business-standard.com/companies/news/polaris-smart-metering-gets-rs-5-200-crore-smart-meter-project-in-up-124012900408_1.html 26
- ↑ 25.0 25.1 "Polaris Smart Metering to supply 1 million smart gas". 2025-02-26. Retrieved 2026-05-25.
- ↑ 26.0 26.1 arora, jayati (2025-04-11). "Megha Gas signs agreement with Polaris Grid for purchase of smart meters". CGDIndia. Retrieved 2026-05-25.
- ↑ "Industry calls for coordinated action to scale natural gas in India's energy mix". www.aninews.in. Retrieved 2026-05-25.
- ↑ 28.0 28.1 Baruah, Rituraj (2025-12-17). "I Squared-backed Polaris eyes going public, plans international expansion | Company Business News". mint. Retrieved 2026-05-25.
- ↑ https://gpsurvey.s3.amazonaws.com/news_and_media/pdfs/TOI.pdf 31
- ↑ Desk, CXOtoday News (2026-02-10). "Polaris Smart Metering crosses 1 million smart meters milestone, advancing India's RDSS-led power distribution reforms". CXOToday.com. Retrieved 2026-05-25.
- ↑ Pathak, Shashank. "Polaris raises $80 Mn from British International Investment". entrackr.com. Retrieved 2026-05-25.
- ↑ 32.0 32.1 Friedman, Thomas L. (2013-02-13). "Opinion | When E.T. and I.T. Meet ID". The New York Times. ISSN 0362-4331. Retrieved 2026-05-25.
- ↑ polarisgrids. "Polaris Smart Metering Secures $80 Million in BII Financing to Accelerate India's Smart Meter Rollout in West Bengal". Express Press Release Distribution. Retrieved 2026-05-25.
- ↑ "Polaris plans Rs 4,500-cr expansion, battery storage foray". The Financial Express. 2026-02-11. Retrieved 2026-05-25.
- ↑ admin (2024-03-10). "Brisk Pace: Significant progress in smart meter deployments". Power Line Magazine. Retrieved 2026-05-25.
- ↑ www.ETEnergyworld.com. "Polaris bags contract for Rs 5,200 crore smart meter installations in Uttar Pradesh". ETEnergyworld.com. Retrieved 2026-05-25.
- ↑ India, T&D (2024-01-30). "Polaris lands Rs.5,200-crore smart metering orders in Uttar Pradesh". Your Gateway to Power Transmission & Distribution. Retrieved 2026-05-25.
- ↑ "Polaris Smart Metering to Deploy 10 Million Smart Meters in India". www.constructionworld.in. Retrieved 2026-05-25.
- ↑ "Polaris Smart Metering executing 10 million smart meters across India, aims to double market share". The Tribune. Retrieved 2026-05-25.
- ↑ Kala, Rishi Ranjan (2024-05-08). "Polaris secures ₹2,452 crore smart meter rollout contracts in West Bengal, Manipur". BusinessLine. Retrieved 2026-05-25.
- ↑ Excelsior, Daily (2026-04-16). "Polaris Smart Metering secures Rs 710 cr finance from BII for its arm Hooghly Smart Metering". Daily Excelsior. Retrieved 2026-05-25.
- ↑ https://indiatechnologynews.in/polaris-lands-%25E2%2582%25B92246-crores-deal-for-state-of-the-art-smart-meter-rollout-in-west-bengal/ 44
- ↑ www.ETEnergyworld.com. "I Squared Capital acquires controlling interest in Polaris Smart Metering". ETEnergyworld.com. Retrieved 2026-05-25.
- ↑ Standard, Business. "Polaris Smart Metering raises $100 mn in funding from I Squared Capital". www.business-standard.com. Archived from the original on 2025-04-21. Retrieved 2026-05-25.
- ↑ admin (2023-02-08). "Polaris Smart Metering Raises $100 Million in Funding from I Squared Capital". Equitypandit. Retrieved 2026-05-25.
- ↑ "Smart Meter Push: Polaris Secures Rs 710 Cr Financing". BW Businessworld. Retrieved 2026-05-25.
- ↑ "Smart metring gains momentum in India, Polaris secures USD 80 million from British International Investment". ANI News. Retrieved 2026-05-25.
- ↑ "Climate Innovations". www.wwfindia.org. Retrieved 2026-05-25.
- ↑ "Leading second in 'Forbes 30 Under 30 Asia 2019' list, India moves up contributing 59 candidates abide..!". www.newsbharati.com. Retrieved 2026-05-25.
- ↑ "Amazing Indians Awards 2016: Yashraj Khaitan gets 'Global Indians' award". The Times of India. Retrieved 2026-05-25.
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