Comments
Zicom Electronic Security Systems Ltd is in talks with private equity firms to raise ₹ 200 crore.
Zicom plans to raise the funds through sale of equity stake of its subsidiary created to offer security as a service. Zicom is launching four platforms under this subsidiary aimed at offering a combination of security services through a mix of mobile apps, internet of things and connected machines.
Pramoud V Rao, Managing Director of Zicom, told BusinessLine , “We moved to offering security as a service few years ago. This business now accounts for ₹50 crore revenue. We are looking to raise funds to expand our platform.” Zicom expects to grow the services business to ₹200 crore in the next few years. Overall Zicom’s revenue is at ₹800 crore which is expected to cross over ₹1,000 crore once the services platform gains scale.
Zicom ventured into the IoT space in 2013. Since then, the company has undertaken several innovations including ATM surveillance systems and a mobile application called Ziman. Ziman allows the user to instantly verify outsourced assistants such as maids, drivers and security guards using the Aadhaar. It also has handset-to-handset tracking feature allows external tracking for up to three handsets. Additionally, the application also comes with a geo-fencing facility that uses the global positioning system (GPS) or radio frequency identification (RFID) to define geographical boundaries like school attendance zones or neighborhood boundaries. This element helps parents ensure that their children are always in safety zones
Zicom also monitors security at over 7,000 bank ATMs with security cameras that posses two-way communication technology and sensors monitored by personnel to help prevent theft and burglary. “ When our personnel sitting at our command centre sees a theft happening in the ATM, he presses a panic button that sounds an alarm,” Rao said adding that this model has been cost effective in maintaining the bank ATMs. “ They used to spend ₹ 40,000 now they spend ₹4,000,” he said.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.