Pradyuth Technologies Private Limited is a product development company incorporated on 18th September 2015. The company currently is operating in the field of Internet of Things (IoT) starting with home automation under the brand name Smarterify.
Key persons of the company include:
Sandeep S : Co-Founder and CEO.
Sreekanth N : Co-Founder and CTO.
Anil Kumar K: Co-Founder and COO.
All three have degree in Bachelor of Engineering (B.E) from Visveswaraya Technological University, and had a previous stint in Tata Elxsi as Senior Engineers.
Executive summary (Contd.)
Smarterify has launched it's first home automation product in amazon.in and is shortly launching five premium product variants of smart switches, all five variants are retrofittable to the conventional modular setup present in households. The products will be available in online market places amazon.in and paytm in B2C model. The company is expanding the reach to offline market as well, and planning to expand the operations in B2B model as well.
Smarterify is participating in a pioneering and booming market of Internet of Things, and is looking for an investment of 0.5 million $ for a 10% equity stake in company.
The funds will be used across four major categories:
Currently Smart home or IoT as a whole is still in nascent stage in India, but the revenue of smart home market amounts to 355.4 million USD in 2016. The revenue is expected to show an annual growth rate (CAGR 2016-2020) of 43.75% resulting in a market volume of 1517.7 million USD in 2020.
Household penetration is at 0.10% in 2016 and is expected to hit 0.51% in 2020. The average revenue per smart home currently amounts to 1366.50 USD.
Talking on global market and going by reports, Gartner, Inc. forecasts that 6.4 billion connected things will be in use worldwide in 2016, up by 30 percent from 2015, and will reach 20.8 billion by 2020. In 2016, 5.5 million new things will get connected every day.
According Juniper research report, consumer spending on smart homes is projected to reach $100 Billion by 2020.
Market analysis (Contd.)
Home automation market can be classified as below:
Market analysis (Contd.)
Market analysis (Contd.)
When talking about Smart Homes, customers mostly talk about security features, digital security, secured homes etc. However, apart from security, customers also talk about convenience related benefits of Smart Homes.
The Main factors driving the adoption of Smart Home are:
Customers don’t really care much about curtain controls, video conferencing and communication between rooms, communication across floors etc.
Market needs (Contd.)
Our products and mission
Our mission is to bring cutting edge technologies into the hands of common man with ease. We had initially launched one product variant SM-MS401 in two colors white and grey. After a brief period we incorporated the reviews and suggestions by distributors and potential customers and we will launch premium variants in 5 different colors shortly.
All the variants will be available in 5 different color variants viz. Dazzling White, Elegant Black, Teak Wood, Maple Wood, Metallic Silver.
Smarterify smart switches offer a rare combo of modular touch switches and cutting-edge technology of home automation which is very difficult to find in market.
Along with this we have another USP i.e, there is no need for hub or any other extra device whatsoever, all the customer has to do replace their existing modular switch and install our Smarterify smart switches.
The main features of our product are:
Product features (Contd.)
Wi-Fi enabled: Our products are Wi-Fi enabled i.e, supports 802.11 b/g/n which facilitates easy connection and long range detection.
Remote access: You can control your appliances from anywhere in the world.
Touch enabled: Our smart switches are capacitive touch enabled which enhances the ease of use and aesthetic value of your home.
Modes: You can set the ambiance of your home by controlling all your appliances in one shot!
Scheduling: You can schedule your appliances before hand.
Retrofittable: Our smart switches are retrofittable in conventional modular switch setup making it a hassle free experience for installation.
Smarterify approaches the smart home market in a unique way, since the company has many USP’s. The company identifies below companies as main competitors:
Silvan Innovation Labs Pvt Ltd: An old player in the business, operating mainly in B2B model, and having implemented so many projects for the likes of Tata Promont, the company has proved as one of the main players in Home automation in India, the company also secured funding recently.
Cubical Laboratories Private Limited: Based out of New Delhi, cubical laboratories are also one of the good players out there in the market. With funding in their kitty, they are one of the companies to watch out for.
Leaf Technologies: With their product Air, Leaf technologies has been one of the new companies to operate in smart home market. They are currently operating in B2C model as well.
Main competitors (contd.)
The giants ofcourse Cisco, Schneider Electric, Qualcomm etc., already are beefing up their operations. Recent acquisition of ARM Holdings by Japanese giant SoftBank has given more impetus that Internet of Things is surely marking the fourth Industrial Revolution
The team is planning to launch more variants of products based on the market survey, and provide complete customized solutions which includes sensor integration which helps in making homes smarter and also helps in intruder detection ensuring complete safety for homes.
The products which the company is planning to launch in the near future are:
Company is also planning to enter wearable category and launch fitness trackers and smart watches.
Our product pricing is focused mainly on the value that our product offers to the customers, it is very competitive when compared to our competitors, seeing the features and USP’s that the products have, we are mainly focused on acquiring more customers by giving them high quality products which is combined with bleeding edge technology so that it doesn’t become burden to them.
We are planning to tie up with tradeindia to boost up our offline sales, and reach our products into the hands of more dealers and distributors.
In online market place, we are planning to launch the product in paytm as well shortly apart from amazon.in
Courtesy of graphs and data depicting the market needs in the presentation : Schneider electric white paper.
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Public - 10/3/16, 11:09 AM