Plans to invest between Rs. 300-400 crore to expand into IoT space by 2020

Hero Electronix, a Hero Group company, 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 businesses. As sensors proliferate (India projected to have an installed IoT device base of ~2.0 billion units by 2020 (according to NASSCOM), and data connectivity becomes ubiquitous, a vast amount of real-time data can transform business processes. Further, artificial intelligence, deployed over this “ocean” of real-time data, can make help drive improvements in efficiency, and improve the velocity of operations, and provide new consumer insights.

Ujjwal Munjal, founder director, Hero Electronix, said: “At Hero Electronix, our vision is to solve real-world challenges through an innovative use of new technologies like IoT. If we examine the IoT space in India today, we only see the tip of the proverbial iceberg. As our team drives innovation, we are exploring acquisition and partnerships with start-ups like Zenatix, who are combining technology and data-driven insights for sectoral disruption. While our IoT solutions are for enterprises, to begin with, we are getting ready to venture into the consumer segment.”

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 analyses over 10 million data points every hour and deliver significant value in areas such as predictive maintenance and consumer experience analytics.