Smartron to raise Rs 250 crore funding to fuel expansion Technology firm Smartron is raising up to Rs 250 crore from investors in the US and the Middle East as it looks to expand its bouquet of products, including smartphones and an electric scooter.

NEW DELHI: Technology firm Smartron today said it will invest Rs 100 crore over the next two years to set up research and development (R&D) and manufacturing operations in Chhattisgarh The company, backed by cricket icon Sachin Tendulkar , has signed an agreement with the state to bring smart technology and product ecosystem to elevate the technological framework of the state."The MoU is for a period of two years. Smartron will invest Rs 100 crore in setting up R&D and manufacturing in the state," Smartron founder and Chairman Mahesh Lingareddy told .He added that the association will bring in a number of smart technologies, jobs and manufacturing and product ecosystems to the state."We look forward to partnering with the government of Chhattisgarh to transform the state's technological infrastructure and deliver highly intelligent and personalised services in the areas of health, home, education, governance, infrastructure, agriculture and energy," he said.Smartron will also participate in various government initiatives like the Smart City project, the SKY programme. The company will be able to fulfil the state's requirements for smart products and technologies on an ongoing basis.The company has raised about Rs 150 crore from investors in the US and the Middle East. It is working towards building an ecosystem of Internet-connected devices that would include smartphones, smartbands, home security products and an electric two-wheeler.