Established in 2014, Hug Innovations is a next-gen Wearable and IoT solutions-based company, currently operating from Cupertino, California and Hyderabad, India. The company specializes in IIoT and has built diversified innovative solutions for global brands. It has developed a patented technology for Human Machine Interaction using Gesture. This Gesture recognition technology uses an ingenious blend of ML, AI, Cognitive Science, and Contextual Intelligence to deliver an unparalleled touchless interactive experience with connected device.
The Resilient Leader
Backed by more than nineteen years of experience in the IT industry, Raj Neravati is the Founder and CEO of HUG Innovations. He had successfully stirred various profiles with a proven track record of managing and generating profitable outcomes for companies like Cigniti and AppLabs. No matter what the corporate experience one has, the startup world teaches something new and distinctive. Raj is no different and has faced several challenges in raising money, stabilizing hardware eco-system for manufacturing and finding the best talent. He says, “Persistence and determination are the two key factors that helped him in staying where he is today,”
Surpassing Challenges
For any emerging startup, the two major challenges are raising funds and rolling out a product which can withstand the complexities of the market. Similarly, when Hug started its initial journey, wearable market was evolving with respect to the choice of System On a Chip (SOC), chipset and the screens. As per finance is concerned, the company faced every challenge with protruding will and successfully raised 1.4 MM Pre-Series A.
Even today, offering the right product at right price and quenching the clientele is not an easy task. The wearable market is continuously evolving and spreading its wings across various industries like Health care, Insurance, Financial Services etc. As such, Hug has efficaciously strived hard to stay futuristic in terms of innovation and embraced tech-enabled advancements to its core!
Unique Strategies Outshining Others
Innovative Technology | Superior Consumer Experience | Great Quality | Competitiveness
“We always position our products for mid-market and consider ourselves as premium for middle class. We don’t compete with the big players or reduce ourselves to compete with Chinese market,” states Raj.
Hug Innovations is amongst the frontrunners, which has developed a gesture-controlled patent pending technology which helps it to stand tall amongst its peers when it comes to innovation. Along with IoT and IIoT, the company has also pivoted itself into Consumer Appliances and Agri-tech. It has developed proprietary IP using AI that makes it unique and different from the market.
At Hug Innovations, meritocracy is followed as a principle which creates a sense of ownership among everyone. Instead of believing that innovation is a leader’s responsibility, the company believes that employees are the cornerstones which majorly contribute to its success voyage. Considering employees as brand ambassadors, there are financial packages defined to incentivize them to think and act differently and get rewarded. Employees get to attend several technical workshops and conferences where they interact with consumers and get firsthand experience on innovation. This empowers the company to go back to the drawing boards and sharpen its decision-making processes in order to craft out new-age solutions.
Noteworthy Accolades
Over the years, Hug has created a niche in its sector by adding several feathers to its hat including:
- 16th fastest growing companies in India by Deloitte Fast 50, 2018
- Cool Vendor in Wearable Technologies by Gartner, August 2018
- Top 10 Start-ups for Innovation, Global Mobile Challenge, Mobile World Congress -Barcelona 2017
- Top 8, Qualcomm Design in India 2017
- Industrial Final Winner at “Innovation & Entrepreneurship International Competition” in Pingshan, China 2017
- Top 3, Design4india by Facebook
- Top 10 Hottest Start-ups by Nasscom India, Emerge 50 League of 10, 2017
An Advisory Note
India as an economy is a place flooded with opportunities for entrepreneurs to bring innovative solutions to the table and unlock the doors of success. However, it takes time to figure out and execute right strategies and solutions which can withstand the complexities of the market. The company advices the beginners to have at least a two year roadmap in order to stay relevant and focused. It also guides them to embrace change, be persistent, learn from failures and succeed from those learnings.
Future Maneuvers
There will be a raise in the number of startups that would disrupt the world with utmost prominence. The Venture Capitals (VC’s) will play a significant role in taking risks on leveraging futuristic technologies and be more bullish like never before.
Acknowledging this scenario, Hug Innovations is planning to pull-in a creative blend of AI and IoT by consistently focusing on innovation and R&D of these technologies. Apart from all this, the company is all set to start the process of raising Series A funds.
