Hero Electronix, a Hero Group company, has announced its entry into the IoT space with the acquisition of Gurgaon-based Zenatix, an enterprise-focused Internet-of-Things (IoT) solutions company. Hero Electronix believes that IoT can fundamentally enrich people’s lives and bring in tremendous efficiencies in business.
Nikhil Rajpal, CEO, Hero Electronix, adds, “We spoke to over 100 companies in the IoT space over the last year and chose to partner with Zenatix as we believe they are uniquely positioned. They are one of the few companies in IoT which have a very strong proprietary solution and have demonstrated scale with over 1,500 deployments across the country. We believe we can meaningfully accelerate their growth by leveraging related solutions in the Hero Electronics ecosystem like AI-driven video analytics, voice integrations and multiple product platforms that can be very relevant to their clients.”
With this acquisition, Hero Electronix has rapidly expanded into the IoT space, helping enterprises tackle business challenges through the deployment of connected-devices. Founded in 2013 by IIT-Delhi engineers, Zenatix has built its own proprietary IoT stack, which includes hardware, cloud-based software and big-data analytics. Zenatix’s current customers include banks, ATM management companies, retail chains and QSR outlets. They help improve efficiency and control in their operations and enhance customer experience. Leveraging its advanced Machine Learning (ML)-based model, Zenatix analyzes over 10 million data points every hour and deliver significant value in areas such as predictive maintenance and consumer experience analytics.
Hero Electronix has a strong platform which Zenatix can leverage to strengthen its presence in the market. Hero Electronix plans to work closely with Zenatix to introduce new solutions to its existing clients and enter new segments. One of the aims of the company is to help address business challenges in retail, hospitality and logistics verticals through the deployment of IoT and emerging technologies. Also, Hero Electronix plans to widen the reach of Zenatix by foraying into global markets – countries such as SE Asia with similar challenges as the India market.
Launched in 2013 by IIT-Delhi alumni, Amarjeet Singh, Rahul Bhalla and Vishal Bansal, Zenatix’ solutions enable customers connect their physical assets (e.g., ACs, refrigeration, lighting, ATM machines, DVRs) over the Internet so that these assets can be controlled and monitored centrally in an automated fashion. The solution, thus, delivers energy efficiency and business compliance for its BFSI and retail customers. Additionally, it helps customers identify inefficient equipment that either leads to inflated power consumption or may break down soon. Zenatix primarily works with banks with a minimum 1,000 branches and large retail chains with at least 100 stores.
According to Rahul Bhalla, CEO, Zenatix, “We started Zenatix with the aim to address a niche problem that was waiting to be discovered. While we use IoT and big-data analytics to introduce automation for retail and BFSI customers, through our partnership with Hero Electronix, we aim to expand these solutions to new areas and segments. The Indian IoT market is still at a nascent stage and with Hero Electronix as our partner, we aim to scale up to the next level.”
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