Mumbai-based early-stage venture capital fund, Unicorn India Ventures (UIV) has announced its fourth investment from its Rs 4 billion Fund-II in the internet of things (IoT)-enabled smart grid automation start-up, Probus Smart Things.

India is looking to smart grid infrastructure to help tackle an out-of-control electricity theft problem and improve reliability. Theft costs the Indian power sector $16.2 billion per year.

Amol Kotwal, Director, Energy & Power Systems Practice, Frost & Sullivan, speaks on what can be done to turn around the distribution scenario in the country to boost the prospects of the power sector.