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Hero Electronix, a Hero Group Company, entered IoT space with the acquisition of enterprise focussed IoT start-up Zenatix.
https://inc42.com/buzz/hero-electronix-forays-into-iot-with-acquisition-of-zenatix/
The acquisition is the part of the ₹400-crore investment planned by Hero Electronix in the IoT space. Ujjwal Munjal, Founder Director, Hero Electronix, said the rest of the investment will be used in building its own consumer facing IoT products, acquisitions and growth. The new products will be announced before this year end, he added.
While the new product segment directed at consumers will be branded under Hero Electronix, enterprise solutions will continue to be branded under Zenatix.
Zenatix has built its own hardware, cloud-based software and big data analytics platform that helps enterprises tackle business challenges like servicing ACs on time or predicting when refrigerator would fail for a restaurant through deployment of connected-devices.
The acquisition will also help Zenatix expand its clientele from banking, retail and quick service outlets to range of sectors like logistics. Though Zenatix currently caters to Indian audience, there are plans to take Zenatix globally.
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Zenatix Solutions has developed such a solution. Called WattMan, this end-to-end IoT-based building management system (BMS) can help businesses cut their electricity consumption by up to 30 per cent and substantially mitigate their maintenance struggles.
WattMan lets businesses like retail chains, banks and cold storages identify an upcoming infrastructural malfunction and take preventive measures accordingly. For example, Mother Dairy is using WattMan to check whether the storage cooling system at its outlets is drawing excess electricity than what it should. They get the cooling system serviced while arranging for a backup before the actual breakdown happens, essentially preventing unnecessary hassles, spoilage of products and interrupted business hours.
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