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Telematics4u (T4U), a company that provides services around Internet of Things (IoT) segment, is planning to triple its revenues by the 2017 fiscal year and also looking at a possibility of an Initial Public Offering (IPO).
The Bengaluru-based company, which was founded in 2009, has clocked ₹17 crore in revenue in the 2015 financial year, is targeting ₹65 crore in revenues in the 2017 fiscal. Further, the company is looking to invest ₹100 crore in the next 3-5 years as it intends to increase its presence in India and markets abroad.
“Our growth momentum has been strong and we are even considering a possibility of an IPO in the next couple of years,” said Pratap Hegde, founder of T4U. The emphasis would be on expanding the network within South-East Asia, Africa and West Asian markets, added Hegde.
T4U's solutions are used across various sectors such as sand mining in Karnataka and Andhra Pradesh. Similar solutions have been deployed for Jindal in Africa.
The company is betting on opportunities arising out of the ‘Digital India’ initiatives, coupled with increased use of technology to track vehicle accidents, thefts and other transportation management solutions. “We believe that technologies like IoT can bring in a lot of transparency to sectors like mining, coal and other natural resources-related areas.”
T4U works on a franchisee model. “We just manage technology and understand that in India, humans need to be involved,” said Hegde. The company appoints franchisees who work on commissions based on sales, service delivery and collections, which are all monitored through technology.
Industry watchers opine that in India, usage of IoT has to be looked beyond data collection. Vijay Ratnaparkhe, President and Managing Director, Robert Bosch Engineering and Business Solutions, believes that as leakages continually add to rising costs in the economy, companies will have to start looking at IoT from an efficiency standpoint as well as understanding of business better.
According to a recent report by 6Wresearch, it is estimated that by 2018, the Indian telematics market will reach $113.7 million, growing at a CAGR of 22.8 per cent.
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