(Left to right) Ranjit Nair, Yogesh Kulkarni and Vinay Nathan.
Making products smart
Entrepreneurs: Vinay Nathan, Ranjit Nair, Yogesh Kulkarni
Firm Altizon Systems Pvt. Ltd
Set Up In: 2013
Education: MIT Sloan School of Management; University of Pune; University of Pune
The founders are well-versed with sensors, cloud (term used for services that run on a network like the Internet) applications and Big Data (the trend of making business sense from the humongous amounts of data generated by individuals and companies), saw an opportunity in the industrial Internet of Things space, and this prompted them to start their own venture.
“The objective was to make existing products smart so that they give adequate information and data to the manufacturers or users to improve efficiency,” said Vinay Nathan.
A device is attached to the products made by a particular company, and it collects data and information, which gets synced through a cloud application.
“This application is mostly used by pump, auto component and motor manufacturers, as it gives out information on the workings under certain temperature and pressure conditions,” added Nathan.
Altizon has another application meant for assembly-line production companies. It is a cloud application that is integrated with operating systems.
The company charges anywhere between $2 and $6 per month per data extracted for the on-premise (along with device) solution.
Altizon currently works with 12 customers and is looking to raise a series A round of funding by the end of the year. The company raised its pre-series A round of funding from Hive India, Infuse Ventures and Persistent Systems Ltd