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Gurugram-based IoT start-up Trak N Tell that provides sophisticated vehicle telematics solutions is looking to expand its product portfolio to include offerings in the personal safety and healthcare segments.
The company will also look to strengthen its presence in South India next fiscal onwards. Internet of Things refers to a network of physical devices, vehicles, home appliances and other items that are connected and can exchange data. Experts estimate that IoT will consist of about 30 billion objects by 2020.
According to Pranshu Gupta, founder and CEO, Trak N Tell, the firm’s new products are in the development stages at its R&D facility in Gurugram.
“By FY19, we will have 2-3 more products, and their variants, in our portfolio,” he told BusinessLine .
‘Hassle-free solutions’
The company’s primary offerings include hassle-free car-tracking solutions that keep an eye on the chauffeur by ensuring he does not take the vehicle out for a joy ride. The idea generated from Gupta’s personal experience, when he witnessed his driver misusing the vehicle.
For example, one of the company’s offerings provides features such as real-time tracking, an engine immobiliser, over-speeding alerts and geo-fence notifications, in addition to optional features such as a panic button for passengers and an AC on/off alert.
Such vehicle telematics solutions are currently being used by individuals and fleet owners (cabs as well as logistics vehicle providers) and even original equipment manufacturers (OEMs).
Trak N Tell’s turnover break-ups show 60 per cent coming from commercial segment, approximately 25 per cent from retail clients and the remaining from OEMs.
“We are looking at some more OEM partnerships in the next 12-18 months,” Gupta said.
According to him, the company will aim to double its turnover to ₹8 crore in FY18. In FY17, its turnover stood at ₹3.4 crore.
Around 5 per cent of the company’s turnover comes from export to African nations such as Nigeria, Libya and Rwanda, apart from those to Nepal, Bangladesh and Sri Lanka.
Gupta expects the company to break even by 2020 to become EBITDA (earnings before interest, tax, depreciation and amortisation) positive.
“Although we are profitable on an unit-economics basis, we are still burning cash if you consider overheads and so on.”
There are, however, no immediate, fund-raising plans.
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