IoT start-up Sensorise expecting Rs. 160 crore this fiscal

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IoT start-up Sensorise expecting Rs. 160 crore this fiscal
IoT start-up Sensorise expecting Rs. 160 crore this fiscal

The IoT start-up provides e-SIM-based end-to-end connectivity solutions for internet-of-things and machine-to-machine communications that are used for car diagnostics, mineral ore tracking, fleet management etc

Domestic IoT start-up Sensorise, on account of an increase in the adoption of connected devices communications and portfolio expansion, expects to more than double its revenue to Rs. 160 crore this fiscal, a senior company official said.

The company had recorded revenue of Rs 72 crore in 2021-22, said Vijaya Vivek Kamath, CTO of the IoT start-up Sensorise.

“We have been doubling our turnover every year. We are now venturing into various industrial use cases and overseas. The current business bringing growth for us and we are looking at venturing into end-to-end solution for large system integration along with our parent firm Rosemerta. This year we expect to close at Rs 160 crore,” Kamath said.

The IoT start-up provides e-SIM-based end-to-end connectivity solutions for internet-of-things and machine-to-machine communications that are used for car diagnostics, mineral ore tracking, fleet management etc.

Last week, at India Mobile Congress, communications minister Ashwini Vaishnaw unveiled Sensorise SenseIT Energy multi-access IoT device.

Kamath said that company’s solution is completely developed in India and the IoT start-up is also entering into overseas markets.

“We are on the verge of closing our first deal in South Asia. We are tying up local operators to support our solutions in their region,” she said.

The IoT start-up puts its SIM cards in devices in India and when they reach the destination, customers will be able to activate the solution as per the local network.

“We have been running pilots in Indonesia. We are looking for business in South Asia, South East Asia and the Middle East to start with. Overseas markets are expected to contribute 8-10 per cent in our total revenue and later this will flip in sometime when most of the revenue will come from foreign markets,” Kamath said.

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