Domestic IoT start-up Sensorise expects to more than double its revenue to Rs 160 crore this fiscal on account of an increase in the adoption of connected devices communications and portfolio expansion, a senior company official said.
Sensorise Chief Technology Officer Vijaya Vivek Kamath said that the company had recorded revenue of Rs 72 crore in 2021-22.
“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 company 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, communications minister Ashwini Vaishnaw unveiled Sensorise SenseIT Energy multi-access IoT device at India Mobile Congress. Kamath said that company’s solution is completely developed in India and the company 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.
Sensorise put 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. PTI