Jaffer Business Systems (JBS) invested 300 million rupees to acquire a significant stake in ENA (Energy N Automation), a Green Tech, Power, and IoT startup.
JBS and ENA signed the investment agreement through an online ceremony in accordance with the Government’s COVID-19 SOPs. JBS is a market leader in Pakistan’s information technology industry. JBS has a long history of supplying companies with creative, one-of-a-kind, and cost-effective solutions.
Since purchasing a major stake in Blutech four years ago, ENA is JBS’s second startup acquisition.
On this occasion, Syed Veqar Ul Islam, CEO of Jaffer Business Systems (Pvt) Limited, said, “Contrary to popular opinion, only 16% of startups fail due to a lack of financing.” While encouraging entrepreneurship, our investment model offers the framework and forum necessary for a new venture’s success. Our job is to work with startups in such a way that we minimise failure risks and provide them with the framework, governance, and support necessary to scale, innovate, and succeed.”
ENA is a 2016 startup that specialises in Internet-of-Things (IoT) and energy solutions for companies in the financial sector. ENA’s goal is to link the planet through the Internet of Things and to contribute to a greener world by lowering carbon emissions and fuel consumption, thus redefining power and connectivity. Our goal for 2024 is to connect 25,000 IoT units, resulting in energy savings of up to 32,500MW, as well as to instal 10,000 supercapacitor modules and save 105 million litres of fuel, 300,000 tonnes of CO2 emissions, and the equivalent of 14 million trees.
“We are an organisation with a vision to power and bind the business world,” said Amir Salman, CEO of ENA. We strive to provide the world with cutting-edge hybrid technologies that save fuel, minimise operating costs, and contribute significantly to a greener climate. As we progress into the future, our IoT-enabled devices will establish connectivity that aids in power conservation, improves control over energy bills, and protects against misuse. JBS provides us with the necessary forum and brand awareness to greatly assist us in exceeding our size, excellence, and innovation goals.”
JBS’s plan is to have a material effect on the country’s entrepreneurial environment by encouraging and assisting entrepreneurs in achieving success. JBS intends to continue investing in at least eight to ten additional startups that have creative products and solutions that improve the lives of individuals, companies, and communities in the regions in which it operates. ENA will scale and innovate further with excellence using JBS’s dynamic framework.
As a market leader in information technology, JBS is actively working to develop and enhance Pakistan’s entrepreneurial ecosystem by promoting and assisting new startups and aspiring entrepreneurs.