5 Promising IoT Startups
IoT will have a great impact on the economy by transforming many enterprises into digital businesses and facilitating new business models, improving efficiency and new forms of revenue.
IOT (Internet of Things) is a renaissance that is taking place globally and very rapidly. It has transformed the world inside-out. Technology companies are in race to adopt this as soon as possible to stay in the game.
Following are a few questions that come to mind while talking about IOT.
• There is a lot of hype around IoT right now. Is the hype justified?
The hype is absolutely justified, and it’s backed up by the numbers. The world will see 25 billion Internet “connected things by 2020 – just a short five years away. It is estimated that the IoT will produce close to $2 trillion of economic benefit globally. IoT will have a great impact on the economy by transforming many enterprises into digital businesses and facilitating new business models, improving efficiency and new forms of revenue.
• What are the verticals that are furthest along with IoT?
Right now, the top two verticals using IoT are manufacturing and utilities. In terms of numbers of things, manufacturing has a slight lead with almost 307 million installed units in 2015 compared to 299 million units for utilities. This makes intuitive sense; control systems using sensors have always been an integral part of manufacturing and automation processes, and we certainly see a lot of smart meter deployments by utilities leading to energy efficiency improvements and operations like automatic billing, energy management and monitoring. One of the fastest growing verticals is retail.
• How the IoT will change our world?
Most people will be surprised at how invisible the technology is, even when it is so pervasive. But the implications of IoT on every aspect of life will be profound. Certainly, there will be great benefits including more efficiency and less waste, but it may also lead to some gray areas. For example, in some cases, machines will start to replace human decision-making. We can already see some potential issues today with both simple machines like meters and complex machines like cars and jet engines becoming intelligent and connected.
There are many promising startups in India which is based on Internet of Things. Let us know about the top 5.
Altiux innovation is software and product engineering services company with a focus on IoT. Their software and services portfolio encompasses the entire IoT ecosystem including edge nodes, gateways, IoT platform and data analytics solutions and can be leveraged by Semiconductor companies, OEMs and system integrators to develop highly differentiated products for the connected world for accelerating design, development and deployment of cutting edge IoT solutions.
Their product engineering services portfolio includes consulting services, device engineering services, application engineering services and analytics services to help build highly differentiated IoT solutions.
2) Altizon Systems
Founded in April 2013, by Vinay Nathan, Yogesh Kulkarni and Ranjit Nair and funded by The Hive, Infuse Ventures and Persistent Venture Fund, Altizon is headquartered in Pune, India and has a presence in Palo Alto, CA.
Altizon is the world’s first Industrial Internet Platform Company focused on making Enterprises Internet of Things (IoT) ready. Their flagship product, the Datonis IoT Platform, available both in a SaaS as well as in a Hosted model, helps in building IoT product in weeks by providing device connectivity kits, a device management layer, a highly-scalable, real-time, big-data analytics engine and alerting and monitoring services.
Datonis easily integrates with the existing IT systems to provide a seamless transition between your IoT devices and your IT infrastructure management tools. They work with enterprises from Manufacturing and Cleantech sector. Primarily, their customers use Datonis for Condition Monitoring, Predictive Analytics, operations and for driving Consumer Insights.
Catering to the needs of today’s senior citizens who prefer to live independently, in an assisted living environment or retirement community, Cooey has targeted the lack of mechanism that captures their comprehensive medical history and hospital services.
Cooey has developed dynamic, holistic, personalized and easy-to-understand solutions that empower chronically ill patients to safely and securely manage their health information from a single spot – accessible anytime, anywhere.
Cooey’s end-to-end health-monitoring IoT platform allows the users to collect, store, analyze and share their medical summary with the doctor, while providing insights and personalized health tips to patients based on their medical profile. Further, it helps connect users with various healthcare service provides to get personalized services, viz., medicines, lab tests, or home care services, delivered to their doorstep.
Cooey has introduced three devices so far – Wireless Body Fat Analyzer and Blood Pressure Monitor were launched on Flipkart in November 2015. It’s Smart Glucometer is coming soon. The Company was founded in 2015 by Manu Madhusudanan and Prabhakaran T P.
EcoAxis is amongst the pioneers in the Industrial IoT space in India. Since 2007, EcoAxis has analyzed over 7.5 Trillion1 data points and delivered valuable business insights to top manufacturing, hospitality and commercial facilities and has helped reduce cost, maximize efficiency and gain improved control over productivity leaks, unlocking potential and business value from captive data.
EcoAxis solutions include, SuperAxisTM, a cloud-based analytics platform that provides integrated analytics on critical process and business information.
Additionally, their Smart Manufacturing Suite integrates machinery inputs and processes within plants and factories to improve operational efficiencies. Further, access across the value chain to reports, notifications and predictions help continuously optimize business results.
Also, their Smart Sustainability Suite generates intelligence from captive ecosystem to consistently improve quality and comfort for the end-user, thereby allowing resource optimization in a sustainable and responsible manner. Leverages the twin competencies of Resource monitoring (electrical energy, fuel, water, air and noise) and Resource usage analytics for facilities, plants such as WTP, STP, chillers, pollution monitoring.
Then they also have a Smart Technology Suite that enabling OEM products such as batteries, compressors, boilers and the like, to be “intelligent” in order to improve efficiency and maximize product-life while reducing total cost of ownership.
Entrib aims to bring new age IT to the manufacturing shop floor with their product ShopWorx.
ShopWorx is a real time big data monitoring & analytics solution, specifically targeted towards operations of a manufacturing shop floor and has been customized for two verticals – Plastics Manufacturers and Automotive Assembly line. Using real time data from devices, sensors, machines, big data based analytics, combined with the power of mobile apps, ShopWorx brings people, machines and processes in a unique manner solving specific problems seen in the Indian Manufacturing industry.
They have saved $200,000+ for Smart Customers, Monitored 50 Million+ Products, Connected 700+ Smart Machines, Saved 100,000+ hours for Smart Customers, and more. Further, Entrib is also working on getting ShopWorx to predict machine downtime, maintenance, energy consumption and connecting the machines to the enterprises.
Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house
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