On an everyday basis we use monitoring to keep track of gas, stock prices, traffic patterns, housing costs, weather etc, to make decisions effectively. Monitoring the ecosystem is analogous to monitoring health. Keeping in mind the long term and short term monitors for a healthy business environment is as important as sensing health rates of a newborn. Afterall, decisions taken scientifically (on data) have a better potency than making decisions on gut feeling or ignoring them. For companies to establish an efficient business and keeping environmental norms in mind, it has become a necessity to sense the surroundings and keep check of factors like pollution. For governmental agencies it’s important to know what projects are harming and how to make an effective policy to sense growth and not damage. The cost for sensing or monitoring services are exorbitant, to provide effectual sensing services Yuktix came into being.
About & Services
Founded by Rajeev Jha in October 2013, Yuktix provides sensor based smart solutions for environment sensing, agriculture and smart infrastructure. Rajeev has worked for Oracle, AOL, Everypath, Indegene and Citrix. Prior to Yuktix, he was working on another venture Favsales to enable payments via Facebook. He did his masters from IIT Kanpur and PGSEM from IIM Bangalore.
The startup is currently dealing in three sectors, namely Agriculture, Urban and Industrial. “We’re primarily into smart sensing, sensors are a way to get data from the physical world. Let’s say an industrialist wants to know the air pollution level in an area, they can use our product. Companies willing to replace their manual sensing to automatic sensing and get the automated data, they can take our services.”
Agriculture: In regard to the environmental aspect, agricultural indicators are used to assess the ways in which agriculture affects environmental quality and how changes in agricultural practices change the environment. 1) Crop Disease Prevention 2) Smarter Greenhouse 3) Post Harvest Monitoring and Remote Management can make any agricultural activity capable of producing more and keeping the environment safe for more production.
Urban: The biggest problem the populace living in urban areas are facing is the air they breathe. This problem is not only a concern when people are not on the roads or travelling, it’s a threat to people staying indoors too. According to the website, Each transit through traffic not only pumps significant amounts of carbon monoxide, sulphurous and nitrogenous gases in people’s systems, but it also lodges carbon particles, dust and VOCs in their lungs. Moreover, besides poor ventilation, indoor air may get contaminated by the formaldehyde released from the wall paints and furnishings. Other volatile organic compounds ( VOCs) such as benzene, styrene, toluene, and other bio-aerosols contained in perfumes and fragrances of cleaners may further contaminate the indoor air.
Industrial: In the age of Internet of Things, industries can have diverse sensing needs. Most of the current industrial installations can be optimized and made more efficient when connected with sensors to measure equipment parameters. Also, the data currently being transmitted over MODBUS and other industrial connectivity channels can also be connected to the cloud via Yuktix devices.
The company is monetising by providing automated data. Rajeev stated that their team deploys the device, generate data and gives it to the user. Moreover, the services are charged for once during the rollout and then the company pays a recurring cost for using those services, Rajeev added. ‘The startup is dealing in a device subscription based model’.
Right now we’re a part of ‘Smartcity Jaipur’, IIS, IIT-D, etc, a few telecom operators have approached us for service for the rollout of their towers to measure some variables,” Rajeev said.
He further added, “Sensors/machines can be expensive, one company is trying to rollout a device where we’re licensing them the design.”
Funding & Market
The company is currently being bootstrapped. Rajeev quoted, “We’re looking to raise funds to complete our product roadmap, gain traction and ramp-up our sales.”
According to marketsandmarkets, “Industrial IoT Market by Technology, Software, & Geography – Global Forecast to 2020”, the IIoT market is expected to reach USD 151.01 Billion by 2020, at a CAGR of 8.03% between 2015 and 2020.
Sensing devices are not very well understood by the market. Most of the sensing/monitoring devices are either too expensive or have to be imported from some European country or both. This is an untapped field and the investors need to understand its governmental, semi-governmental, industrial and civilian applications.