Polaris Smart Metering Private Limited has raised ₹710 crore (approximately $80 million) in funding from British International Investment for its subsidiary, Hooghly Smart Metering Private Limited. The investment will support the deployment of over 2.2 million smart meters across West Bengal and accelerate the company’s advanced metering infrastructure (AMI) expansion.

A portfolio company of I Squared Capital, Polaris provides end-to-end smart metering solutions, including manufacturing, installation, communications infrastructure, and software platforms.

The company currently holds an order book of approximately $1.1 billion, covering projects across Uttar Pradesh, West Bengal, and Manipur, totaling 7.5 million electric meters. It has also established a strong presence in smart gas metering, with 1.6 million meters deployed.

BII continues to expand its India portfolio, with investments in companies such as Ather Energy and U GRO Capital, supporting sustainable infrastructure growth.