ConnectM Technology Solutions, a green energy technology firm out of Marlborough, has announced the creation of Keen Labs.
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ConnectM Technology Solutions, a green energy technology firm out of Marlborough, has announced the creation of Keen Labs, a wholly owned subsidiary devoted to innovation and tech product development.
“Keen Labs represents the next chapter in ConnectM’s evolution,” Bhaskar Panigrahi, ConnectM CEO and chairman, said in a Monday press release “By creating a separate subsidiary for our technology products, we can bring sharper focus to product innovation, intellectual property development, and partnerships in high-growth markets such as AI, energy storage, and industrial IoT.”
Keen Labs will consolidate ConnectM’s AI and technology assets, working to broaden the company’s offerings to enterprise customers, including AI, battery systems, and industrial Internet of Things, the latter of which is sensor equipment used to communicate data in industrial operations.
ConnectM intends for Keen Labs to coordinate mergers and acquisitions that will propel product innovation in the fields of mobility, logistics, and energy transition.
“Our goal is to create a technology ecosystem that unites modern energy, efficient mobility, and smart logistics through AI-driven intelligence and automation. The strong revenue and margin growth already demonstrated by our technology platform show the scalability of our model, and we expect that momentum to continue as Keen Labs becomes the hub for future M&A and organically developed innovations,” Nayeem Hussain, Keen Labs president, said in the release.
This new venture comes after ConnectM was delisted from the Nasdaq stock market in May, with a potential buyout group halting its $62-million acquisition offer in June.
The company announced in March that it would appeal the delisting and began trading on the OTCQB Venture Market in October.
Mica Kanner-Mascolo is a staff writer at Worcester Business Journal, who primarily covers the healthcare and diversity, equity, and inclusion industries.
