Goswami focused on revenue building and export plans
AutomatiCH, a Mumbai-based startup transforming homes and farms in the Asia Pacific and Middle East regions into intelligent infrastructure, is raising Rs.8.8 million from seed fundings for business growth and serving the US$9,036.64 million Smart Home Automation market in India.
“Sixty per cent of the funds will be utilized in initial stock manufacturing, while the rest will be utilised in business process such as Marketing, Manpower, Utilities and Technical Assets as well as working capital,” said Shivam Goswami, Managing Director of Chandrahas Technologies Pvt Ltd, the parent group of AutomatiCH.
“We are also focused on the Asia Pacific and Middle East export markets,” he said.
Goswami aims to build a revenue of Rs.460.9 million by 2024-25 and Rs.395.5 million in 2023-24.
The 2020 startup is working its way into growth phase and acknowledges a loss of Rs.20.9 million in revenue in 2022-23.
The start-up is mentored by industry veterans like Rajat Choudhary from Mumbai and Gurdip Singh from Singapore having rich experience in Information Technology and Media, respectively.
“With the proliferation of IoT devices, consumer needs a secure way to connect devices across diverse platform and start-up like AutomatiCH are bridging the gap with their path breaking innovations,” said Choudhary who is mentoring and launching series of start-ups in India and Asia Pacific.
“With our multi-segment approach, we are confident of achieving Rs.460.9 million revenue by end of 2024,” Goswami told Fiinews.com on 3 Oct 2021.
He cited growth avenues based on the National Smart Home Market forecast of US$9,031.64 million.
Goswami elaborates on his target revenue based on AMC sales of Rs.1.2 million, General Insurance sales of Rs.23.1 million, OEM sales of Rs.33.7 million, Smart Home sales of Rs.68 million and PCBA exports and sales of Rs.334.9 million.
AutomatiCH will be complementing businesses in competitive landscape led by global leaders Schneider Electric, Philips, Pert and SmartiQo.
The startup’s sales channels are B2B, D2C, e-commerce, distribution network and retail network
“We Supply in Bulk AutomatiCH Products to Business like Construction Companies, Real-Estate Developers, Electrical Contractors, Interior Designers and Architects,” said Goswami.
“We are developing a good distribution Network across India with our Promising Partnership Program.
“With our alternative easy to partner initiatives, we are also working hard on building a retail network to make our products available pan-India,” he stressed.
Chandrahas Technologies, registered in Palghar, Maharashtra, manufactures premium quality Smart Home Switches. #technologies #investment #banking #economy #exports #manufacturing /fiinews.com
