This Digital Twin Tech Pioneer Company To Become Face Of Telematics In India
“If you build a customer-centric, value-driven product, it will always find a good level of adoption in the market,” Anup Patil, CEO of Intangles expresses while speaking about the biggest learning so far
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The Pune-based startup is at the forefront of solving real-world problems of commercial vehicle fleets by allowing them to monitor, benchmark and conduct predictive maintenance of assets to enhance their overall uptime and profitability. Intangles is on a mission to transform the way fleet operators across the mobility industry commence business by leveraging its proprietary digital twin technology. Its core vision is to become the de facto vehicle health monitoring solution provider of original equipment manufacturers globally.
Brief us about your company, its business model and operations.
We are working with physics-based analytics and machine learning to simulate the real-world environment in a virtual space, providing real-time and predictive insights, augmented with a large repository of repair strategies and recommendations. Intangles’ solutions allow fleet operators to monitor, benchmark and conduct predictive maintenance of assets. These solutions are currently powering vehicles for over 6,000 fleet operators across eleven countries.
How are you different from the existing competitors?
Our core differentiator is the derivation of easily discernible, actionable insights from complex telemetry data streams, targeted at fulfilling the KPIs of the everyday fleet manager. This envelopes highly accurate performance statistics (fuel consumption, distance, run hours), predictive alerts for failure with the highest levels of precision, diagnostics alerts with elaborate metadata (causes, repair strategies) and comprehensive reports on schedules and pilferages.
Fleet managers are now able to preempt critical engine breakdowns resulting in lower downtimes and maintenance costs. Visibility on the route and application-specific performance aggregates is enabling them to better plan their operations with a focus on higher margins. Fuel pilferage alerts are enabling a direct reduction in trip overheads. Automated reports are reducing dependency on manpower.
In a first of its kind scenario in India, OEMs are leveraging ML for analysing real-time data from retailed vehicles for improving products and providing proactive service in the truest sense.
What is the monetisation model?
Our current monetisation model basically consists of device cost and platform subscription.
Additionally, the kind of insights that we generate from the performance of systems that we monitor, gives us enough data to understand which particular component fails when, how and under what conditions. It lends credence to a lot of monetisation opportunities in the insurance and finance sector where the risk of underwriting a fleet operator is completely dependent upon the health and safety of its fleet.
We bring in new insights on how well a fleet is maintained, how well its drivers are driving, what are the driver scores in each and every segment, and what kind of preventive steps fleet operators are taking on the basis of the alerts that we raise. There is a fleet score that Intangles generates and this can act as a guiding principle for any insurance company to understand the kind of risks that they are underwriting.
What challenges are you facing in running your business?
Although the Digital Twin technology lends itself to various business opportunities across industries, we sometimes fall short of bandwidth to pursue those opportunities. With the kind of exponential growth that we are seeing, we sometimes have to let go of business opportunities in adjacent industries because of the sheer demand from the mobility space itself.
what has been the impact of the pandemic? How has been your customer's response so far post lockdown?
The pandemic has only accelerated the growth of Intangles. The lockdown pushed the demand for remote monitoring and this is where our technology-empowered operations teams across the mobility sector monitor the health and performance. Customers saw value because they got much needed real-time insights into the performance of remote assets and along with precise and timely suggestions to their operations teams for them to make informed decisions. The very fact that we grew at 90 per cent in the pandemic year is a testimony to the value we brought to their businesses during the pandemic.
What are the traction details (achievements of the company)?
We have already onboarded 7 OEMs in the 11 countries that we are operational. Additionally, we have more than 6,000 fleet operators on the platform as of today. With some of the largest names in the mobility space already signed up as our customers, we are looking at achieving five times growth in the current FY.
How do you look at expansion?
Intangles is on the brink of heralding a new chapter of innovation in vehicle performance and safety across India and the world. As Digital Twin pioneers in mobility, the spectacular growth that we have achieved hardly comes as a surprise. While we are consolidating our position in the Indian mobility ecosystem, the outlook is very positive for new opportunities in North America, Europe, Australia and APAC. Our impressive growth and expansion story is merely a testament to the game-changing potential of Predictive Analytics enabled by the Digital Twin technology.
What is the market size and opportunity?
As per the latest reports, the vehicle health monitoring market is estimated to cross US$ 55 billion by 2027. The market data displays a strong growth potential for vehicle health monitoring systems due to the rising demand for autonomous vehicles globally. The rapid increase in the sales of commercial vehicles across the globe will also fuel the vehicle health monitoring market demand.
What are your future plans, with respect to the Indian Market?
We want to be the very face of telematics in India when it comes to EVs in the commercial vehicle industry, across the spectrum of last mile delivery to long haul. In terms of technology, we want to consolidate our position as pioneers in leveraging Digital Twin technology for serving use cases such as motor health and battery health. We are also strengthening our position in the IC engine-powered medium to heavy commercial vehicles segment and expanding our analytics suite around vehicle health monitoring, driver ranking and fleet operations automation.
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