How these entrepreneurs turned their weekend project into a million-dollar startup IoTfy

#News(Startup) [ via IoTGroup ]

Headings…
How these entrepreneurs turned their weekend project into a million-dollar
[Startup Bharat] Raipur-based Minocular is breaking new ground using drones
A team of serial entrepreneurs
From a weekend project to a profitable company
Market and competition
Growth
Business and plans
Internet of Things is no hype, poised to be a multi-trillion dollar market

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Started by serial entrepreneurs Arpit Chhabra, Sushant Taneja, Shashank Saxena and Shivam Dikshit in 2017, IoTfy is a chip-to-cloud company that helps consumer durable brands add IoT capability to their device categories with its chip-to-cloud IoT products.
These chip-to-cloud IoT designs are production-ready, cost-optimised for appliance categories such as air conditioners, water purifiers, water geysers, smart lights, smart fans and others,” says Arpit Chhabra, Co-founder and CEO of IoTfy.
“These include the Nucleo WiFi module, which communicates with the cooler control card and provides data connectivity, the iACE IoT Platform, and pre-configured device schemas topped with IoTfy’s analytics as per the OEM or brand’s demand.”
The co-founders claim that IoTfy is the only company in India that provides chip-to-cloud solutions and caters to the entire life cycle of IoT products.
Shivam Dikshit (29), Vice President, Marketing, previously headed business development and marketing at an IoT consulting firm and was able to establish a diverse customer base ranging from startups to Fortune 500 companies.
We started focusing on the Appliance and Consumer Electronics (ACE) space because use cases of IoT were plenty and numbers of appliances with IoT has a drastic growth potential compared to Industrial IoT,” he adds.
Sushant says that companies in the appliance and consumer electronics space are sourcing IoT solutions for their product lines majorly from three channels.
The startup believes it has disrupted the space by providing ready-to-use IoT appliance designs, that ensures production friendliness, thus making it suitable for mass production and adoption.
He adds that the company currently has ready-to-use IoT solutions for over 12 products lines including ACs, air coolers, fans, water purifiers, air purifiers, water geysers, chimneys, lights, etc.
The company is also helping three major air cooler brands to enable IoT in their product line

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