JBS invests Rs300mln in ENA
Business
April 9, 2021
KARACHI: Jaffer Business Systems (JBS) has invested Rs300 million to acquire significant share of Energy N Automation (ENA) , a green tech, power and internet of things startup, a statement said on Thrusday.
The investment agreement was signed between JBS and ENA in an online ceremony, while adhering to Covid-19 SOPs. JBS is amongst the leaders in Pakistan’s IT industry.
After acquiring significant share of Blutech four years ago, ENA is the second startup to become part of JBS.
JBS CEO Syed Veqar Ul Islam said, “Against common belief, it is observed that only 16 percent startups fail due to lack of access to finance.