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HomeSuccess StoryIoTfy Success Story: A B2B Startup to Help Consumer Durable Companies

IoTfy Success Story: A B2B Startup to Help Consumer Durable Companies

 

IoTfy Success Story

loTfy success story Most of us have grown up listening to stories where doors would open automatically on saying ‘Khulja sim sim’ or tales where lights would go on and off on uttering some magic verses or on just a clap of the hands. But all these unbelievable things have now become a reality, and there is not magic in it. IoT and AI has made many things possible and has simplified our lives in many ways.

Delhi based startup IoTfy is helping consumer durable companies meet this growing demand for IoT enabled goods by offering them ready to use IoT designs for various consumer durables, thus making IoT integration simple and fast. We interviewed Arpit Chhabra, Co founder and CEO IoTfy, to get more details about the startup.

IoTfy Highlights – Company Highlights

  • Startup Name-IoTfy
  • Headquarter-Delhi
  • Founder-Arpit Chhabra, Sushant Taneja, Shashank Saxena, Shivam Dikshit
  • Sector-IoT, Consumer Durables
  • Founded-2017
  • Parent Organization-IoTfy Solutions Private Limited
  • Website-www.iotfy.com

About IoTfy

IoTfy is a #MakeinIndia IoT & AI cloud suite that is making it simple for consumer durable brands to add IoT capabilities to their device categories. Through its Chip to Cloud IoT ecosystem, IoTfy works with India’s top consumer durable and appliance brands and enables them to create smart appliances that are responsive to Apps and Voice Commands.

IoTfy offerings primarily comprise of:

  • iACE IoT Platform
  • iota Device OS
  • White labelled Mobile Apps
  • Voice integrations

Apart from the above core products, the company also has other product modules for:

  • Service Management suite
  • AI & ML suite
  • Business Analytics suite
  • Sales & Dealer suite
  • Marketing suite

IoTfy recently launched GoCo (inspired by the caption ‘ Go Corona’) UV disinfectant bags, which disinfect the items put inside it. In the current times this product is truly of great help and customers can buy them directly from the website gocobags.com

“We are working towards creating an ecosystem for IoT in India. One thing for which we take a lot of inspiration from China is the ecosystem that they have developed around IoT products. We have started taking baby steps towards empowering ODMs in India to be a part of the larger IoT ecosystem, so that we together can fulfil local and global demands. We are providing them access to our Chip-to-Cloud IoT ecosystem, so that they can make their appliance categories smart .” IoTfy founder Arpit Chhabra says

IoTfy – USPs

Some of the USPs that makes IoTfy stand apart from its competitors are-

● Providing IoT Cloud cost as a one time SaaS fee based on the average lifespan of the product category.This stands out because brands/OEMs/ODMs traditionally work on a Bill of Material (BOM) cost for each product and with IoT coming into the picture, cloud becomes a variable cost. This is clearly out of their comfort zone, accounting for something variable to come up with their cost build-up.

● IoTfy is focused on various India specific requirements such as adding vernacular support on Mobile Applications, adding WiFi Direct functionality (using this end consumers can control devices without having need of a WiFi router, which is a must for market like India)

● Focusing on “RoI from IoT” from day 1 by providing 360 degree coverage of business requirements w.r.t after sales service, sales, and marketing through its product suites.

● Engaging with OEMs and ODMs alongside brands has helped IoTfy build an ecosystem of manufacturers to scale IoT products adoption in India.

● Onboarding Electronic Component Distributors (ECDs) as channel partners to upsell IoTfy’s iota – Device Operating System.

IoTfy – Founders & Team

It all started when Arpit and Shashank were sharing notes w.r.t the solutions they had developed in the past and realized both of them faced the same problems while developing custom cloud platform for their IoT solutions, and they realized there is a need of an IoT Cloud Platform that is easy to set up, use-case agnostic, and vertical agnostic. Moved by this common idea, all the four founder started to work on the concept of IoTfy, leading to the launch of the startup in 2017.

Presently, Arpit Chhabra (36) is the CEO of IoTfy. He has been a serial entrepreneur having built four start-ups & successfully exiting two of them. His last exit was an IoT product start-up, Ad-Box.

Arpit has worked with start-ups since the last 14 years with the last 7 years in IoT products. He has worn multiple hats both as the hacker and the hustler.

Arpit graduated from Delhi University (NSIT) with a Bachelor of Engineering degree in 2005

Arpit Chhabra, Co-founder & CEO IoTfy

Sushant Taneja (33) is Vice President, Technology at IoTfy. He heads the cloud and mobile apps technology development. He has an exhaustive hands-on experience of over a decade in IT technologies. He has the technical know-how of things working at scale and was working with Snapdeal before co-founding IoTfy. Previously, Sushant had co-founded Ekayan Software Labs and has been a founding member in StoreMonk.

Shivam Dikshit (30) is Vice President, Marketing at IoTfy. He has been previously heading business development and marketing for an IoT consulting firm and was able to establish a diverse customer base ranging from start-ups to Fortune 500 companies. He is a community builder and has been a founding member of PeerHack, Bootstrap Weekend & Hack4India.

IoTfy Core Team

IoTfy has a team of engineers with various expertise ranging from software developers to hardware engineers. The team has Front end developers with expertise in Javascript, HTML; Native Android and iOS developers; Cloud application developers with Python and Java skills. Firmware developers with expertise in embedded C/C++ and RTOS. The startup is in its growing stage and is currently hiring. Speaking about the hiring funda of IoTfy, founder Arpit Chhabra said,

“We look for people who are passionate about solving problems with practical aptitude. We believe that skills can be acquired, passion and problem solving attitude is something that we look for while we are hiring. Because of our previous experience in the field of IoT, we have been able to get onboard good technical talent.”

Why and How IoTfy was Started

IoTfy was started as a weekend project back in Dec of 2014, where Arpit, Sushant, Shashank and Shivam used to meet and do development hackathons. The idea at that point was to build a WordPress-like platform for IoT that can be used across the sectors for various IoT use cases. The team realized the need for an IoT platform that is easy to set up, use-case agnostic and vertical agnostic while developing custom IoT solutions for various clients in their previous organisations.

“Water Purifier has its own reasons to be our first offering for it being a very beautiful use case of IoT specially in the after sales market. Preventive maintenance, eliminating warranty frauds and maximizing after sales revenues we sought using IoT. We worked with the premium water purifier brand of India for this project. The response from the market was overwhelmingly positive.” says Arpit  about the initial offering of the company

The IoT Industry

The Internet of Things (IoT) in India now is not a thing of the future, it is growing and thriving right in front of our eyes. From Smart appliances to Smart Energy metering, from Industry 4.0 to Smart vehicles, IoT powered products are touching our lives on a daily basis.

“Looking at this growing market alongside Prime Minister Modi’s call to make India “Self Reliant” or “AtmaNirbhar” unearths some very interesting aspects. Particularly because building blocks of any IoT product or solution require seamless amalgamation of hardware, cloud stacks, mobile applications, data analytics, and artificial intelligence (AI), it is a huge opportunity for the Industry to make India “AtmaNirbhar”. Arpit adds

IoTfy – Name & Logo

IoTfy means IoTfying the device categories to make them smart. IoTfy also means IoT for you. Making IoT implementation simple and easy for consumer durable brands. The founder’s idea behind the name is to keep it relevant, short, catchy and easy to recall.

IoTfy – Funding

IoTfy is looking forward to raise a Series A funding. The IoTfy team intends to use the funds raised for

Tech team expansion for building new product features and adding support for new categories.

Expanding the client base in India (focus on hiring augmenting Pre-sales, Sales and Marketing teams)

Expansion in geographies outside India

IoTfy – Revenue Model

IoTfy levies a one time SaaS fee for the IoT cloud based on the average lifespan of the product category. IoTfy’s clients i.e brands/OEMs/ODMs are comfortable to work on a fixed cost system and the startup’s revenue model is designed considering this very comfort level.

IoTfy – Marketing Strategies

Acquiring clients is always challenging, however, the good part for IoTfy was that they were dealing with big brands who mostly had IoT in their roadmap. It was more about educating, consulting the customers and prospects w.r.t business cases and features IoT can open up, and finally helping them with technology implementation. As Arpit says,

“Our problem is half solved if there is a positive intent for IoT adoption, the remaining half is to help them develop trust in the IoT products and solutions that we offer. We counter that through quick Proof Of Concepts (POCs) on their existing appliances. This also helps us reduce our sales lead time and establishes our customer’s trust in our capabilities.”

IoTfy also has a strong network of channel partners who upsell our Device Licences (iota) to various brands and OEMs/ODMs. These licenses include the lifetime cost for the cloud usage and the firmware for the WiFi module.

What is IoTfy?

IoTfy is a leading IoT solutions provider for smart home automation, smart home lighting.

Who are the founders of IoTfy?

Arpit Chhabra, Sushant Taneja, Shashank Saxena and Shivam Dikshit are the founders of IoTfy.

When was IoTfy Founded?

2017